Leslie Jordan’s Final L.A. Home Hits the Market, Steve Wynn Lists His $90 Million Duplex, and More Real Estate News

Ritz-Carlton Residences come to southwest Florida

Kolter Urban has announced the launch of The Ritz-Carlton Residences, Sarasota Bay, a 20-story residential tower coming to the Quay Sarasota waterfront district. Designed by SB Architects, the building will house 78 three- and four- bedroom luxury residences with 13-foot ceilings, designer-curated finishes, and expansive terraces with built-in grills. It will also offer residents a cafe, golf swing simulator room, and a waterfront gym on the first floor.

When it’s completed in late 2025 or early 2026, the Sarasota Bay project will be the the 12th Ritz-Carlton branded property in Florida, following those in Estero Bay, Fort Lauderdale, Miami Beach, Coconut Grove, Orlando, Palm Beach, Pompano Beach, Sarasota, Singer Island, Sunny Isles Beach, and Tampa. “We could not be more delighted to introduce another luxury address under the legendary Ritz-Carlton brand,” Kolter Urban president Bob Vail said in a statement. Premier Sotheby’s International Realty is leading sales, with prices ranging from $3.5 million to $11 million. 

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New York was a “choppy luxury market” in 2022

New York City’s luxury market held fast in 2022, according to the year-in-review report from Olshan Realty. Some 1,304 contracts were signed at $4 million and above, totaling over $10.3 billion in sales. Much of that activity was in the first half of the year, with only 468 deals closed in the latter half of 2022. “We now find ourselves navigating a choppy luxury market—some stable weeks and some lousy ones,” wrote veteran realtor Donna Olshan, who prepares the report. 

She advises against trying to compare this year to 2021, which saw 1,877 high-end sales, thanks to “a home-buying spree fueled by low interest rates and a bloated stock market.” But, Olshan added, 2022 falls “exactly in the middle of the pack” over the last decade. “[This year] did outperform each year from 2016 to 2020,” she wrote. “We’ll take it.”