A 2,370-square-foot penthouse in the middle of downtown Portland is the most expensive home for sale in Maine’s largest city.
The two-bedroom, three-bathroom condominium makes up the top three levels of the Winslow Lofts building at 547 Congress St., across the street from the recently shuttered Renys location in downtown Portland.
With an asking price of $2.95 million, the property was the most expensive single home in Portland on the market as of Wednesday, Maine Listings shows. The home is more than five times more expensive than the median home price in Portland, which Zillow says is less than $540,000.
The penthouse hit the market on Jan. 6 and how long it takes to sell could illustrate how much hunger for luxury downtown properties there is in southern Maine. Other homes — both single-family and urban condos — around Portland have sold for around $3 million in recent years, Zillow records show.
The building was first constructed in 1875, then two local real estate developers purchased it in 2006 and converted the second through fifth floors into condominiums. The following year, one of the developers transformed the sixth floor into the main living space of the penthouse, then added rooftop decks to the top of the building, for his personal use, according to Will Fuller of Legacy Properties Sotheby’s International Realty, the listing agent for the property.
The home has changed hands twice since then, and the current owners bought it in 2021 for $2.775 million, which included a one-bedroom unit that has since been sold separately, according to property records. The owners live out of state and primarily use the penthouse as a seasonal getaway, Fuller said.
“They love it, but don’t use it as often as they would like to,” Fuller said. “They feel that it’s probably time for the next owner to appreciate and use it.”
Large floor-to-ceiling windows cover the walls of the main living spaces, giving the home plenty of natural light and 360-degree views of Portland, Casco Bay and beyond.
The main living area has an open floor plan and holds the kitchen, with stainless steel appliances, polished concrete countertops and a curved island that offers space for additional bar-style seating. There’s also room for a living and dining area and a gas fireplace on one wall to add warmth to the room.
The primary suite off the kitchen features another gas fireplace, ample closet space, a small balcony and a large ensuite bathroom with a custom made concrete bathtub with radiant heat, Fuller said.
The home is full of custom-made elements and natural materials, which makes it perfect for “someone who really appreciates having a work of art as their home and wants to be in the center of Portland’s arts district,” Fuller said.
Aside from modern touches and luxury finishes, the unit has other features that add to the space’s comfort and livability, such as radiant heat in the floors and motorized shades that move with the touch of a button, Fuller said.
A Maine-made spiral staircase sits in the center of the main living area, “anchoring the space,” Fuller said.
The stairs lead up to a sprawling rooftop deck with multiple entertainment spaces, a fire pit and a patch of irrigated grass. A second shorter set of stairs on the deck lead to another smaller observation deck for those who want a slightly better view of Maine’s largest city.
The penthouse is accessed by an elevator, but someone needs a special key to reach the penthouse.
The property comes with two off street parking spaces, one of which is in a heated indoor space, Fuller said.
Despite having floor-to-ceiling windows throughout much of the unit, and being in the middle of downtown Portland, the home is surprisingly private because it isn’t clearly visible to passers-by, Fuller said.
“When you’re driving down Congress Street, you can’t see it,” Fuller said. “You don’t expect anything like this in Portland.”