DC Partners Sells Houston Luxury Condo Unit

A penthouse condo asking $9 million in Houston’s Fourth Ward has changed hands in an off-market deal.

The two-story condo, atop the 35-story tower at 1711 Allen Parkway, sold in January to an undisclosed buyer, the Houston Chronicle reported. The sale was confirmed by DC Partners, the tower’s Houston-based developer. The sale price was not disclosed.

The unit was one of two penthouses in the Residences at The Allen that have sold in private transactions. Another two-story penthouse, listed for $7.25 million, was purchased in June. The two combined sales encompass 11,000 square feet and were sold as unfinished shells, allowing buyers to customize their interiors.

The condo tower, which opened in 2023, houses 99 luxury residences, with 90 percent of the units already sold. Two penthouses remain available. Two- and three-bedroom units start at about $1.9 million.

Residents have access to amenities offered by the on-site Thompson Hotel, including valet, concierge, room service and a spa. The building also features a pool and helipad.

Derek Darnell, president of Houston-based Pelican Builders, previously described the city’s high-end condo market as “so small that you really do not even have enough data to formulate any trends.”

An estimated 45 luxury condo projects are in sales, under construction or proposed across Texas, where a handful of developers are laying the foundation for a high-end condo market.

Pelican, along with Ember Group, are the developers behind The Hawthorne, a 17-story condo building in Houston’s Tanglewood neighborhood. The high-end complex offers condos priced from $1.3 million to $4.2 million. Half the units were pre-sold by the building’s opening last summer.

While not a part of the market’s luxury segment, the Houston Association of Realtors found that the sale of condos and townhomes dropped about 10 percent in 2023 from the previous year, despite ongoing luxury development. Houston saw similar figures last year.

— Andrew Terrell