PROVIDENCE – A high-end penthouse at The Residences tower in downtown Providence recently sold for $1.39 million, making it the biggest sale of any condominium in city history on a price-per-square-foot basis, according to Residential Properties Ltd., which represented both sides of the transaction.
The real estate firm cited data maintained by the Rhode Island Statewide Multiple Listing Service when deeming it the most expensive condo sale ever recorded in Providence on a basis of price per square foot. The Unit 2901 property at 1 West Exchange St. encompasses 1,400 square feet of living space.
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The two-bedroom penthouse features panoramic views of Rhode Island’s capital city, with 10-foot-high ceilings, a chef’s kitchen with high-end appliances, which opens up to a dining space, with a 500-square-foot outdoor terrace facing the statehouse, according to Residential Properties.
Each bedroom comes with an en suite bathroom, with walk-in closets located on opposite ends of the condo unit, according to the real estate firm.
The penthouse condo was most recently valued by Providence assessors in fiscal year 2023 as being worth $974,200, according to the city’s online property tax evaluation database.
The Residences Providence is marketed as the city’s only “full-service” residential tower building, and it was designed by TRO Jung Brannen and developed by The Procaccianti Group LLC, with construction completed in 2007.
The building is the third largest in the state, standing at 380 feet tall, behind the Industrial Trust Co. Building, also known as the “Superman” building and One Financial Plaza.
The former owner of 1 West Exchange St., Unit 2901, was represented in the sale by Residential Properties sales associate Ramiro Encizo, while the buyer was represented by RPL sales associate Michael J. Sweeney, of The Sweeney Advisory Team.
According to the warranty deed, a public record of the sale, the penthouse condo was sold by Sulekha Ramayya and Shreya Ramayya, of Providence.
The condo was purchased by the revocable trust of Robert S. Gottlieb and Constance Mary Gottlieb, of Florida, according to the deed.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockObama.
