Luxury downtown Denver penthouse sells on Colorado real estate market

A Record $3.9 Million Sale for One Lincoln Park Penthouse in Downtown Denver

Last month, a luxurious penthouse located at the One Lincoln Park condo building in downtown Denver was sold for a record-breaking $3.9 million, despite a significant price reduction. Elise LoSasso from The Agency-Denver successfully represented both the seller and the buyer in this remarkable transaction.

The sale of Unit 3223 at 2001 Lincoln St. was a challenging task, given the current struggles in the downtown condo market, particularly for high-end properties like luxury penthouses. The initial asking price for the unit was a substantial $5 million.

Former owners John Stambaugh and Charles Knight purchased the penthouse in 2011 for $1.8 million, transforming it into a stunning 4,100-square-foot space with three bedrooms and four baths. The $750,000 renovation included lavish features such as gold- and silver-leaf domes, marble slabs, custom cherry closets, and exquisite Swarovski crystal and Venetian glass chandeliers.

Knight and Stambaugh, who were successful entrepreneurs in the medical industry, split their time between Denver and Florida. Sadly, Knight passed away in March 2024.

After listing the penthouse for $5 million in August 2024, LoSasso eventually negotiated a price reduction to $4.8 million in January. Through a collaborative open house event with multiple downtown agents, the property attracted significant interest and was placed under contract in July.

The buyer, Alistair Macdonald, closed the deal for $3.9 million on November 24th. This sale surpassed the previous high sale in the building, which was $3.1 million in 2021.

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