Hi y'all, welcome back to Selling Austin - your weekly local real estate recap.

Inside: $27.5M Texas Penthouse 🤑 + Tallest Building in Texas is Leaking? 🥴 

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WHAT'S INSIDE

• 🔢 THE DATA

• 🤠 WHAT'S HAPPENING AROUND TOWN

• 🤤 HOUSE WORTH DROOLING OVER

🔢 THE DATA

👋 Hi, I'm Kirtana! I'm an ex-dentist turned Realtor - let's work together! Email me, tweet me or send me a carrier pigeon. 🐦️

Texas just got its most expensive condo listing ever.

A penthouse at Houston's upcoming Ritz-Carlton tower hit Zillow last week for $27.5M. 

The numbers:

• 9,715 sq ft = ~$2,800/sqft

• 2 stories, mezzanine, private pool inside the unit 🏊

• 4th most expensive home in all of Texas right now

• Most expensive condo on the market in the state

Background:

• The Ritz-Carlton Residences at 2120 Post Oak Boulevard — 45 stories, 605 ft, 156 hotel rooms + 112 condos

• Developer: Deiso Moss (Houston-based)

• The tower already sold one unit for $30M — reportedly the highest-priced condo ever sold in Texas 🤯

• Completion: Fall 2029

Why does Austin care?

• Houston has 4 branded-condo projects in the pipeline (Ritz, St. Regis, Auberge, another Ritz in The Woodlands)

• The gap is about to close

  • Austin is going to close the ultra-luxury gap with new offerings like Aman

  • Four Seasons Private Residences Lake Austin just closed an $870M construction loan on June 2 (one of the largest residential loans in Texas history).

🤠 WHAT'S HAPPENING AROUND TOWN

Texas's tallest building just opened. It already has stains. 👀

The Waterline tower just claimed the title of tallest building in Texas If you look closely you’ll see: visible streaks running down the brand-new facade.

Sooo that’s pretty ugly, what’s the cause?

• Most likely: water moving through new concrete, picking up salts, leaving a white deposit. Luckily just cosmetic

• Every super tall building (Salesforce Tower SF, One Vanderbilt NYC) went through this in year one. It will get improve they say

• Turns out even $520M doesn’t save you from stains

🤤 HOUSE WORTH DROOLING OVER

This one isn't for sale (sorry!) but it’s worth it.

The Paseo penthouse at 80 Rainey. 48 floors up. 1 of just 4 penthouses in the tower.

Yours for: $45,000/month or $540K/year 🤑
Just FYI - That's the equivalent of owning a ~$10.8M condo at a 5% cap.

View Paseo →

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