Penthouse at Ritz-Carlton Residences Tampa sells unfinished for $11.6 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: May 10, 2024

A buyer has paid $11.6 million for a full floor of the Ritz-Carlton Residences, Tampa.

A Kentucky-based entity closed on the penthouse condominium on Monday, according to Hillsborough County property records. Miami-based Related Group, the developer of the Ritz-Carlton Residences, announced the sale when the unit went under contract in 2021.

Toni Everett, founder of the eponymous South Tampa real estate company, told the Tampa Bay Business Journal that the buyer purchased the 11,140-square-foot condo unfinished. Everett is the exclusive listing agent for condos in the Ritz-Carlton Residences.

It appears that the buyer combined two units into one, based on marketing materials for the Ritz-Carlton Residences that list penthouses at 5,570 square feet. The sales price represents a new record for aggregate pricing for condos in Tampa. The previous record, $8.34 million, was set by Tampa Bay Lightning owner Jeff Vinik's purchase of a penthouse in the Tampa Edition. That condo is 6,687 square feet.

The Ritz-Carlton Residences has 170 condos in two towers as well as 12 townhouses. The first phase saw an average price per square foot of $1,000.