In 2021, a developer bought an empty Park City lot for $6 million; 4 years of construction later...

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. When Providence Realty Investments bought the land five years ago, it was completely undeveloped. Uritescu began preparing the site and laying the groundwork soon after the $6 million purchase in 2021. Construction then continued for four years. Building a mansion...