Dorado penthouse priced at $49 million aims to shatter Puerto Rico’s residential sales record

Dorado Beach Resort's residential properties are the only ones that have sold for over $10 million on the island.

Dorado Beach Resort's residential properties are the only ones that have sold for over $10 million on the island.

Another property listed for sale in Dorado has the possibility of breaking a residential record in Puerto Rico. The Corcoran Group, a real estate agency, listed a penthouse at West Beach, part of the Ritz-Carlton Reserve Residences, for $49 million.

RELATED: A record-breaking sale: Dorado Beach condo goes for $12.25 million

The 6,817-square-foot property has two floors, four bedrooms, an infinity pool, a 2,609-square-foot rooftop terrace, multiple lounge areas, and direct access to the beach.  “PH 3141-3142 enjoys a wealth of benefits, including 'hassle-free ownership' under the flag’s rental program, promising effortless management, as well as an attractive investment asset in the Caribbean shores,” reads the description on Corcoran’s website. "Hassle-free ownership" means that because the property is part of the Ritz Carlton Reserve Residences, the owner can benefit from the luxurious hotel chain’s rental and property management program. If the property sells at $49 million, it will break the residential record in Puerto Rico, which in 2022 was established by the sale of a mansion in Dorado for $40 million.

RELATED: US Union to Congress: ‘Time to tax the millionaires in Puerto Rico’

According to data from "En pies cuadrados," a series by El Nuevo Día, the residential properties of the Dorado Beach Resort are the only ones that have sold for over $10 million on the island. Meanwhile, it is becoming increasingly difficult for the average Puerto Ricans to buy a home because of the increase in housing prices. According to data from the Office of the Commissioner of Financial Institutions (OCIF), in 2023 the average home price on the island was $193,356, which represents an increase of 9.6% compared to 2022.

By Mivette Vega

April 2, 2024

Dorado Beach Resort’s residential properties are the only ones that have sold for over $10 million on the island.

Another property listed for sale in Dorado has the possibility of breaking a residential record in Puerto Rico.

The Corcoran Group, a real estate agency, listed a penthouse at West Beach, part of the Ritz-Carlton Reserve Residences, for $49 million.

RELATED: A record-breaking sale: Dorado Beach condo goes for $12.25 million

The 6,817-square-foot property has two floors, four bedrooms, an infinity pool, a 2,609-square-foot rooftop terrace, multiple lounge areas, and direct access to the beach. 

“PH 3141-3142 enjoys a wealth of benefits, including ‘hassle-free ownership’ under the flag’s rental program, promising effortless management, as well as an attractive investment asset in the Caribbean shores,” reads the description on Corcoran’s website.

“Hassle-free ownership” means that because the property is part of the Ritz Carlton Reserve Residences, the owner can benefit from the luxurious hotel chain’s rental and property management program.

If the property sells at $49 million, it will break the residential record in Puerto Rico, which in 2022 was established by the sale of a mansion in Dorado for $40 million.

RELATED: US Union to Congress: ‘Time to tax the millionaires in Puerto Rico’

According to data from “En pies cuadrados,” a series by El Nuevo Día, the residential properties of the Dorado Beach Resort are the only ones that have sold for over $10 million on the island.

Meanwhile, it is becoming increasingly difficult for the average Puerto Ricans to buy a home because of the increase in housing prices. According to data from the Office of the Commissioner of Financial Institutions (OCIF), in 2023 the average home price on the island was $193,356, which represents an increase of 9.6% compared to 2022.

Author

  • Mivette Vega

    Mivette Vega is a seasoned journalist and multimedia reporter whose stories center the Latino community. She is passionate about justice, equality, environmental matters, and animals. She is a Salvadorrican—Salvadorian that grew up in Puerto Rico—that has lived in San Juan, Venice, Italy, and Miami.

Politics

Local News

Related Stories
Share This