Park City lot bought for $6 million becomes record $37 million home

A vacant piece of mountain land in Park City, Utah, bought for $6 million in 2021, has been turned into a $37 million luxury home, setting the highest residential sale price ever recorded within the city limits. The record-breaking off-market deal was first reported by The Wall Street Journal. Covering 17,000 square feet, the newly completed home was sold after four years of construction overseen by Rhode Island-based developer Raymond Uritescu, Chief Executive Officer of Providence Realty Investments. Estate broker Steve Jury of Keller Williams Park City, who represented both sides of the deal, confirmed the final $37 million sale price to The Wall Street Journal. The figure beats previous residential sales records within the official boundaries of the well-known ski resort town.Four years of construction in Deer ValleyThe property sits on a multi-acre lot inside a private, gated community in the Deer Valley resort area.