Owners of private residences for sale above the new Ritz-Carlton hotel in downtown Portland will reside in rarified air. At 460 feet above street level, people at the top of the glamor-driven tower can relish unobstructed views of the Cascade mountains and Willamette River through their glass walls and from personal terraces.
With more privileges than even the NBA stars staying in the hotel suites below, owners of penthouses, on levels 34 and 35, and condos, on levels 21 to 31, will have exclusive access to owners-only luxury spaces, reservation preferences at the tower’s Bellpine restaurant on the 20th floor and perks at the pool and spa spanning the 19th floor.
Owners and their guests will arrive through a special entrance, steps from valet parking, and will be guided to a dedicated, high-speed elevator that bypasses offices on floors three to seven, and hotel rooms, the city’s first five-star accommodations, on levels eight to 18.
Round-the-clock concierge staff is on call “to make sure an owner’s every day feels like a vacation,” said Terry Sprague of LUXE Forbes Global Properties. His agency is selling the Ritz-Carlton Portland’s 132 private residences, which range from a $1.1 million, one-bedroom condo on the 21st floor, which is under contract, to the Tahoma penthouse at 550 S.W. 10th Ave. #3503, with a finished asking price of $8,999,000.
The hotel opened Oct. 31 and homeowners are expected to move in later this year, said Sprague. Hotel and restaurant guests can mingle with owners at the lobby bar and in the ballroom on the second level, but entree to the owners lounge and terrace on the eighth floor, with personal wine vaults and a golf simulator, is off limits to others.
Sprague, like other real estate agents bounded by Oregon’s Licensure Law, cannot talk about offers received for a property before the transaction closes.
At least 16 of the private homes are in escrow, according to online real estate marketplaces Redfin and Zillow. Most of the Ritz-Carlton Portland Residences are not listed on the public Regional Multiple Listing Service (RMLS) and are only available to review online at rcrportland.com/residences.
Penthouses, which are about 3,250 square feet, can be purchased with move-in ready layouts or as an unfinished shell, with the owner hiring an architect to create a customized floor plan that meets the homeowners association’s high standards. Each penthouse has a terrace and there are only four units on the top two floors.
Owners who invite friends and family to stay at the tower can book the Ritz-Carlton hotel’s 251 suites and guest rooms at a 20% discount.
The Ritz-Carlton tower occupies an entire block, the last undeveloped full block downtown where food carts once were parked at Southwest 10th Avenue and Southwest Alder Street. The property’s indoor-outdoor Flock food hall, with a bar, coffee shop and eight restaurants on Southwest Ninth Avenue, is expected to open in spring 2024.
The new building, with the Ritz-Carlton hotel entrance at 900 S.W. Washington St., and retail space on the street level, is near Darcelle XV Plaza, formerly the half-acre O’Bryant Square on Southwest Harvey Milk Street and Park Avenue. The building is also part of the six-mile Green Loop, connecting downtown shops, entertainment and restaurants to walking and biking paths.
Pending home sales
There are 132 residences planned for sale at the Ritz-Carlton Portland, the $600 million building known as Portland real estate developer Walter Bowen’s Block 216 project. Homeowner association fees are $1-$1.10 a square foot per month, based on location. Penthouses and condos have not been individually appraised and Multnomah County property taxes have not been determined.
Here are the units that have received an accepted offer and a sales contract has been signed, according to public databases. The sale price won’t be revealed until the transaction closes.
Units with one bedroom, full bathroom and powder room:
- $1.1 million: 550 S.W. 10th Ave. #2104 with 1,105 square feet of living space
- $1,105,000: 550 S.W. 10th Ave. #2103 with 1,142 square feet of living space
- $1,105,000: 550 S.W. 10th Ave. #2204 with 1,097 square feet of living space
- $1,105,000: 550 S.W. 10th Ave. #2304 with 1,091 square feet of living space
- $1,135,000: 550 S.W. 10th Ave. #2404 with 1,069 square feet of living space
- $1,135,000: 550 S.W. 10th Ave. #2503 with 1,142 square feet of living space
- $1,140,000: 550 S.W. 10th Ave. #2504 with 1,022 square feet of living space
- $1,235,000: 550 S.W. 10th Ave. #2704 with 1,082 square feet of living space
- $1,265,000: 550 S.W. 10th Ave. #2603 with 1,069 square feet of living space
- $1,275,000: 550 S.W. 10th Ave. #3004 with 1,082 square feet of living space
- $1,280,000: 550 S.W. 10th Ave. #3104 with 1,082 square feet of living space
- $1,335,000: 550 S.W. 10th Ave. #3003 with 1,165 square feet of living space
- $1,340,000: 550 S.W. 10th Ave. #3103 with 1,142 square feet of living space
Units with two bedrooms, two bathrooms and a powder room:
- $2,650,000: 550 S.W. 10th Ave. #3005 with 1,739 square feet of living space
- $2,810,000: 550 S.W. 10th Ave. #2106 with 1,641 square feet of living space
- $3 million: 550 S.W. 10th Ave. #2806 with 1,567 square feet of living space
— Janet Eastman | 503-294-4072
More Ritz-Carlton Portland news
• Take a first look inside Bellpine, The Ritz-Carlton’s sweeping new 20th-floor restaurant
• Portland agency to loan $3 million for Flock food hall in Ritz-Carlton tower
• What luxury looks like inside Ritz-Carlton Portland’s private homes
• Portland Ritz-Carlton tower lands law firm as first office tenant
• Highly anticipated Ritz-Carlton delays opening of downtown Portland hotel
• Portland Ritz-Carlton tower nears completion with few apparent hiccups, defying odds