Condado’s $22 Million Vanderbilt Penthouse

A five-bedroom penthouse atop the new Vanderbilt Residences is asking $22 million, placing it among the most ambitious residential listings currently on the market in Puerto Rico.

The Vanderbilt penthouse rising above Ashford Avenue is testing just how high Condado’s luxury real estate market can go.

Penthouse 2201 at Vanderbilt Residences, 1149 Ashford Avenue, is currently being offered for $22 million, according to the public listing. The five-bedroom residence sits at the top of one of Condado’s most closely watched new residential developments and combines more than 10,000 square feet of interior space with a nearly 3,900-square-foot private terrace overlooking the Atlantic.

The numbers alone put the property in rare territory. The residence includes 10,287 square feet of interior living space, five bedrooms and seven-and-a-half bathrooms. A 3,890-square-foot terrace brings the total indoor and outdoor living area to approximately 14,177 square feet — roughly the footprint of several typical Condado apartments combined.

At the current asking price, the interior space works out to approximately $2,139 per square foot. The property has been publicly marketed at $22 million since December 2025 and is listed by Blanca Lopez Mera of Corcoran Puerto Rico.

A Penthouse Built Around the Ocean

Penthouse 2201 has a southeast exposure, positioning the residence toward the Atlantic and the morning sun. The design emphasizes large expanses of glass and extensive outdoor space, with primary living areas oriented toward ocean views and sunrise light.

The scale is unusual even by Condado penthouse standards. At more than 10,000 interior square feet, the apartment approaches the dimensions of a large private estate while occupying the upper level of a full-service oceanfront condominium.

The listing specifies Poliform Italian cabinetry and closets. The kitchen is planned with premium appliances from Miele, Wolf and Sub-Zero, along with custom cabinetry, quartz countertops and backsplashes.

Bathrooms are designed with natural stone, custom vanities, freestanding tubs and oversized showers. Residences in the project are also pre-wired for smart-home systems capable of integrating lighting, audio, video and automated window treatments.

The penthouse also includes two private garage spaces, according to the listing. But the defining feature may be the 3,890-square-foot private terrace — an outdoor footprint larger than many entire Condado residences.

The Tower Beneath the Vanderbilt Penthouse

The $22 million penthouse sits atop Vanderbilt Residences, the major new luxury tower at 1149 Ashford Avenue. The project represents a significant addition to Condado’s oceanfront skyline.

Vanderbilt Residences describes the approximately 250-foot tower as the tallest residential building in the San Juan metropolitan area. The project is designed as a collection of 66 residences ranging from one to five bedrooms, with extensive glass, corner exposures and large terraces intended to maximize ocean and city views.

The development is being led by Paulson & Co., the investment firm founded by John Paulson, whose Puerto Rico holdings include major hotel and real estate assets. Paulson Puerto Rico previously disclosed an investment of approximately $184 million in the Vanderbilt Residences development.

The architectural design is by SB Architects, while interiors are being developed by Hirsch Bedner Associates, the international hospitality and residential design firm commonly known as HBA. The result is a project being positioned more like a private urban resort than a traditional Condado condominium.

25,000 Square Feet of Amenities

Residents are being promised approximately 25,000 square feet of shared amenity space spread across two fitness, wellness and entertainment levels.

At the center is a 75-foot oceanfront infinity pool overlooking Condado Beach, accompanied by a wet bar and private cabanas. The amenity program also calls for a cold-plunge pool, hot Jacuzzi, fitness center, yoga studio, Peloton bikes, steam room, sauna and massage rooms.

There is a private dining room with a chef’s kitchen, along with a club room and integrated kitchen, billiards room and library. Plans also include individual wine lockers, multiple lounge areas, a 15-seat theater, children’s playroom and business center with a separate conference room.

The project even includes dedicated pet amenities, with an outdoor pet park and washing station. Operational services include 24-hour concierge and doorman service, valet parking, cold storage for deliveries and electric-vehicle charging stations. Residents are also being offered privileges associated with the nearby Condado Vanderbilt Hotel.

A New Level for Ashford Avenue

The asking price of Penthouse 2201 stands dramatically above most other residential properties being marketed in Condado.

That distinction becomes particularly clear within Vanderbilt Residences itself. Other marketed residences in the development have been offered in roughly the $8.7 million to $9.5 million range, making the $22 million penthouse more than twice the asking price of several other multimillion-dollar units in the same tower.

It is also priced well above another trophy penthouse currently marketed along Ashford Avenue at $12.5 million. The comparison illustrates the emergence of a small ultra-luxury tier within Condado’s broader real estate market — residences priced not merely in the several-million-dollar range, but increasingly at levels associated with trophy properties in major coastal markets.

Whether buyers ultimately validate those asking prices remains a different question. Penthouse 2201 has been publicly marketed at $22 million since December 2025, with no publicly recorded price reduction shown in the major listing portals as of August 11, 2026.

If it were to sell near its asking price, the transaction would represent an exceptionally high-dollar residential sale for Condado and another benchmark for a neighborhood whose luxury market has changed markedly in recent years.

From Historic Vanderbilt to a New Residential Tower

The Vanderbilt name carries particular weight on Ashford Avenue. The original Condado Vanderbilt Hotel opened in 1919, establishing itself as one of Puerto Rico’s earliest luxury resort properties. More than a century later, Vanderbilt Residences is extending that name into a new category: ultra-luxury private residences.

Unlike the historic hotel’s Spanish Revival architecture, the new tower is emphatically contemporary — a glass-dominated vertical building designed around ocean views, outdoor terraces and resort-style services.

The juxtaposition captures much of what is happening along Ashford Avenue today. Condado retains its historic hotels and older residential towers, but a new generation of projects is increasingly targeting buyers comfortable with asking prices once rarely associated with San Juan condominiums.

Penthouse 2201 may be the clearest example yet. For $22 million, a buyer is not simply purchasing five bedrooms overlooking Condado Beach. The asking price is effectively a bet on where developers and brokers believe the ceiling of Puerto Rico’s urban luxury market now sits — and from the top of Vanderbilt Residences, that ceiling has become considerably higher.

Property at a Glance

Editorial note: Property details are based on publicly available listing information and Vanderbilt Residences project materials. Listing status, pricing and specifications can change.

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