$9 million Portland SW Hills mansion competes for buyers with downtown Ritz-Carlton penthouse

The two highest-priced Portland homes for sale, at just under $9 million, are showcases of luxury living, offering vast views and vaulted status. Both have extended terraces elevated over the neighbors and are easily recognizable as one of a kind. But otherwise, they are as unlike as a penthouse and a mansion can be.

The premier penthouse atop the 35-story downtown Ritz-Carlton Portland has a finished asking price of $8,999,000. Less than two miles away, a Southwest Hills modern glass mansion is for sale at $8,998,000. The differences between the two residences is much more than location and $1,000.

Home shoppers will be driven by lifestyle, not budget, to prefer one over the other. The prime Ritz-Carlton penthouse, with 3,256 square feet, shares the top floor with three other units. Two potential buyers inquired about purchasing the entire floor, about 16,000 square feet of unfinished living space, said a Ritz-Carlton Residences sales ambassador.

Ritz-Carlton penthouses are 460 feet above anything happening on the street and are oriented to frame views of the Cascade mountains and Willamette River. Residents have round-the-clock concierge service and arrive in private elevators, separate from those used by guests of Bellpine restaurant and the Ritz-Carlton hotel, the city’s first five-star accommodations.

The two-story mansion, at the end of a very private drive behind a gate, has 7,581 square feet of living space. While Ritz-Carlton residents have entree to the pool and spa on the 19th floor, the house has a private pool, gym and steam room. The house also has a heated-and-cooled three-car garage, while the penthouse has two deeded garage spaces.

Property taxes are around $61,425 a year for the house built in 2001 on 0.36 acres. Property taxes for the penthouse have not been set, but homeowners association fees are expected to be $1-$1.10 a square foot per month, based on location.

Here’s more of what both Portland homes asking close to $9 million offer:

Ritz-Carlton Penthouse

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Owners of penthouses, on levels 34 and 35, and condos, on levels 21 to 31, in the new $600 million Ritz-Carlton Portland tower will enjoy more privileges than even the NBA stars staying below them in hotel suites.

Residents have exclusive access to owners-only luxury spaces, including the owners lounge and terrace on the eighth floor, with personal wine vaults and a golf simulator. Owners also have reservation preferences at the tower’s Bellpine restaurant on the 20th floor and perks at the pool and spa spanning the 19th floor.

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 premier penthouse at 550 S.W. 10th Ave. #3503 is priced at $8,999,000 for a move-in ready layout or it can be purchased as an unfinished shell, with the owner hiring an architect to create a customized floor plan that meets the homeowners association’s high standards.

A rendering of the premier penthouse, called the Tahoma, shows a hot tub behind glass terrace railings on a northwest corner.

“People living here are buying the luxury of time and being able to create special moments with friends,” said Terry Sprague of LUXE Forbes Global Properties, who is selling the 132 Ritz-Carlton residences. “You only have to say your preferences one time (to a staff member) and what you, your kids and your pet need, will always be there.”

West Hills Mansion

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A prominent modern glass mansion for sale at $8,998,000 in Portland’s West Hills has penthouse views and is famous for sporting a sign honoring Portland Trail Blazers Jerome Kersey. The owner, financial adviser Ron Sloy, who was dubbed “Really Tan Portland Ken” by the NBA on TNT crew, poured more than $15 million into the property.

“Since the last time this home was on the market (in 2021), over $1.7 million has been invested and the price has been reduced by $1 million, so opportunity is knocking,” said broker Justin Harnish of Harnish Properties, when he re-listed the property in July 2023. “You will want to own one of Portland’s most iconic domiciles.”

He added: “From the German engineered stainless-steel front door and window package down to the imported stone slabs, using the word ‘spectacular’ [to describe the home] is an understatement.”

The 0.36-acre property at 1305 S.W. Myrtle Court has 270-degree views of the city skyline, Willamette River and Mounts Hood, Adams, St. Helens and Rainier.

An elevator links to floors with two bedroom suites, a guest bedroom, a billiard-game area and a lounge with climate-controlled wine storage for 5,000 bottles. After a workout in the gym, a person can relax in the steam room and sauna.

The two-lane lap pool extends 75 feet along one of the four decks, setting a scene more likely in Beverly Hills than the Pacific Northwest, said Sean Gores of the design-build firm Gores Construction in Milwaukie, who updated the structure’s weatherproof exterior as well as the energy efficiency and aesthetics of the mansion that was originally designed by Robert Thompson of TVA Architects of Portland.

Being able to easily entertain guests guided the placement of multiple bars — there’s even one in the three-car garage — and wide screens, including a 140-inch one in the expansive media room.

— Janet Eastman | 503-294-4072

jeastman@oregonian.com | @janeteastman