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The Ritz-Carlton’s Most Expensive Penthouse Sold for $12M

It went for $2 million below its asking price

The massive 48th-floor penthouse at the Residences at the Ritz-Carlton has been sold for $12 million, making it one of the city’s most expensive residential sales of the year.

The new owner has not been disclosed, but the word on the street is that the buyer already lives in the building.

The Philadelphia Business Journal suggests that it might be a local business owner, perhaps with ties to Comcast.

With an asking price of $14 million, the unit was at one point the most expensive home for sale in Philadelphia. It boasts panoramic views of the city, including a close-up of the William Penn statue atop City Hall. Yet the penthouse is a raw space that clocks in at a mind-boggling 8,610 square feet. That’s including two outdoor terraces.

It’s been a hot couple of weeks for big-time sales. On June 2, the penthouse at 500 Walnut sold for $17.5 million, becoming Philly’s most expensive real estate buy ever.

Take one last look inside the 48th-floor penthouse below.