Old Town Scottsdale’s Largest Condo for Sale

The largest condominium in Old Town Scottsdale is on the market after a fresh remodeling.

The 5,119-square-foot penthouse in Optima Camelview Village is selling for $6.5 million, the Phoenix Business Journal reported. If sold at that figure, it would work out to approximately $1,270 per square foot for the unit at 7157 East Rancho Vista Drive.

The original owner of the Optima Camelview residence, listed in public records as Jeannie K. Stewart of Gilbert, sold the unit to Scottsdale-registered Rancho 57 LLC last March for more than $2.5 million. The buyer purchased the condo off-market with the goal of renovating and reselling it, listing agent Jason Glimcher of Compass Real Estate told the Business Journal. The unit now boasts updated cabinetry, doors from Belgium and flooring from Italy.

“It never fully hit the resale market,” Glimcher said. “This is the first time it’s really being offered since the original owners owned it for 20 years.”

The ultra-luxury condo market in the Scottsdale metro is booming, according to Glimcher. For-sale residences priced under $1 million haven’t sold as frequently because of a glut of inventory, but higher-priced condos have been trading hands at higher rates. The list price and size edges out another luxury unit at the Ritz-Carlton Villas, which sold last August for $6.48 million. That unit was 3,191 square feet, fetching about $2,031 per square foot. Another condo at the Ascent at The Phoenician residences sold in November for nearly $5 million.

“Within a 5-mile radius of Old Town Scottsdale, units at Ritz-Carlton and Ascent at The Phoenician have sold between $3 million and $8 million,” Glimcher said. “The ultra-luxury product is doing extremely well just because there aren’t many options. They want something special and they’re willing to pay for it.”

Last year, 3,550 condos and townhomes sold in metro Phoenix, per Polaris Pacific data cited by the Business Journal. There are currently 691 new condos under construction in metro Phoenix with another 1,816 entitled that could begin construction this year.

“Scottsdale’s high-end condo market outperformed in 2025, and we expect that performance to carry into 2026,” Polaris Pacific’s Crel Vogel said. “Interest rate volatility matters less at the top of the market, where cash transactions are common. This, in turn, creates real upside potential for the ultra-luxury segment.”— Chris Malone Méndez