Tahoe sales surge: duplex penthouse goes for $5 million
In another sign of a resurgent high-end real estate market arounda $5 million duplex penthouse at The Ritz-Carlton Residences, Lake Tahoe, has been sold to an unnamed buyer.
The sale of the 3,407-square-foot penthouse – featuring four bedrooms, three and a half bathrooms, a theater and spectacular views of Northstar Mountain and the surrounding area from an altitude of about 7,000 feet – was announced by the Beverly Hills-based international real estate investment and services company Kennedy Wilson.
The $5 million sale follows two other recent transactions at the site. The Residences are comprised of 23 luxury penthouses that became available for purchase in mid-February 2013. Fourteen homes remain on the market.
“We are delighted to have reached this sales benchmark as we kick off The Residences’ inaugural winter season,” said Stuart Cramer, president of Kennedy Wilson’s Residential Investment Group. “The strong sales affirm the enthusiasm we are seeing among buyers to acquire luxury vacation homes that provide the iconic services of The Ritz-Carlton and an elevated outdoor lifestyle set amid the stunning beauty of the Lake Tahoe region.”
According to Chase International, 2013 has seen a 60 percent year-over-year rise in home sales in the Lake Tahoe region.
The perks of ownership at The Ritz-Carlton Residences, Lake Tahoe, include special ski areas/services,valet parking, private-entry corridor/elevator and priority access to a spa, lounges and the Manzanita Restaurant.
Read more here: http://www.sacbee.com/2013/12/12/5995540/tahoe-sales-surge-duplex-penthouse.html#storylink=cpy
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