Inside the Ritz-Carlton Residence, Lake Tahoe Penthouse That Sold for $5 Million.

Kennedy Wilson, the international real estate investment and services firm, announced the sale of a $5 million duplex penthouse at The Ritz-Carlton Residences, Lake Tahoe. This duplex penthouse features compelling interiors by awards-winning San Francisco interior designer Jay Jeffers. The 3,407 square-foot, two floor residence has spectacular views from all rooms, ski-in/ski-out access, four bedrooms, 3.5 baths, a home office and theater.

This sale follows the sale of the other duplex penthouse at the resort, and an additional 2,339 square-foot four-bedroom home. The Ritz-Carlton Residences, have been built mid-mountain at Northstar, a major ski area at Lake Tahoe, and are comprised of 23 luxury penthouses that became available for purchase in mid-February 2013. Only fourteen homes remain.

The brisk sales of The Ritz-Carlton Residences reflects an overall increase in home sales in the Lake Tahoe region. According to data published by local real estate firm Chase International, 2013 shows a 60 percent rise in home sales over 2012, that includes single family home & condo sales. Sales at The Residences were launched less than two months after Kennedy Wilson and its partners acquired the hotel and residences from the property’s lenders.

The Residences encompass the entire top floor and a private wing of the third floor of The Ritz-Carlton, Lake Tahoe, the area’s first Forbes Four Star and AAA Five Diamond Resort as well as the first Ritz-Carlton resort to receive LEED Certification from the U.S. Green Building Council.

The Residences are whole ownership homes consisting of two-, three-, and four-bedroom penthouses ranging from 1,554 to 3,407 square feet. The ski-in/ski-out residences, located at an elevation of 7,000 feet, feature exceptional views of Northstar Mountain, Martis Valley and Mt. Rose, with each penthouse featuring a unique floor plan. The Residences range from $1.25 million to $5 million.

Owners of the penthouses enjoy pre-arrival concierge service, valet parking, a Residence Concierge, Ski Valet services, a private entry corridor and an elevator that delivers owners to their penthouses. Owners also benefit from priority access to the exclusive facilities, services and amenities of the hotel, including its 17,000-square-foot Ritz-Carlton Spa.

Unlike other residential destinations in the Sierra, The Residences present penthouse owners with the opportunity to enjoy 3,170 skiable acres and the world’s only Burton Snowboard Academy. Other winter activities include cross-country skiing, snowshoeing, tubing and ice skating at Northstar.

During the summer recreation season, owners can enjoy more than 2,815 miles of trails, mountain biking, fishing, river rafting, paddleboarding, golf, and outdoor concerts. Penthouse owners will also be granted membership at the Tahoe Mountain Club, offering private mid-mountain dining at Schaffer’s Camp, two championship golf courses, as well as The Pavilion at Old Greenwood’s swim and tennis facilities.