Vanderbilt Residences Condado | Buyer’s Guide 2026

Update · October 2026: who is building it, and why there are no closed sales yet

Two things changed since this guide first went up, and both matter if you are evaluating a unit here.

The ownership question is settled

Vanderbilt Residences is owned outright by John Paulson. In March 2025 he acquired his former partner's stake and ended the litigation that had shadowed the development, taking full control of the $260 million project. Paulson & Co. also owns the Condado Vanderbilt and La Concha hotels next door, so the party operating the neighborhood's two landmark hotels is the same one delivering this building.

The design team is the other verifiable part. Architecture is by SB Architects, the firm behind the St. Regis Bahia Beach and the Ritz-Carlton Reserve at Dorado Beach. Interiors are by Hirsch Bedner Associates. At 22 stories and 250 feet, it is the tallest residential building in the San Juan metro area.

The building holds 66 units in total: 50 residences for sale and 16 hotel keys, from one to five bedrooms. The developer has announced full completion for 2027.

September 2026: the condohotel regime was filed at $163.7 million

On September 18, 2026, Vanderbilt Residences filed its condohotel regime at a declared value of $163.7 million. El Nuevo Día reported on October 12 that it was the largest real estate transaction recorded in Puerto Rico that month.

That figure is not a sale. Nobody paid $163.7 million for the building. It is the value declared when the horizontal property regime is constituted — the legal act that carves a single structure into individually deedable units and, here, declares part of it a condohotel.

Which is exactly why it matters to a buyer, and it answers the question in the section below. Until the regime is recorded, there are no individual units to convey: there is a tower and a set of purchase contracts. Filing it is the step that has to happen before any Vanderbilt unit can close and appear, with a public price, in the record. The building has been sold on paper for two years. This is the first move toward those contracts turning into deeds.

The total reported investment in the project is $260 million.

Two cautions. A filed regime is not a delivered building, and the developer’s own completion date is 2027. And the declared value of a regime is a legal figure, not a market one — it is not a price per square foot and it should not be used as a comparable for anything.

The first Vanderbilt closing is on the record: $7.95 million

Until September 2026 this section said there were no Vanderbilt closings anywhere. That is no longer true. Alongside the regime, the building’s first closing was recorded, at $7.95 million.

And the developer moved immediately to say it is not a comparable. A spokesperson for Earle LLC, the developing entity, told El Nuevo Día the figure answers to “a contract signed on April 17, 2023”, and that therefore “the price reflected in the deed corresponds to the terms agreed at the time of contracting, more than three years ago, and does not represent the current prices of the residences available at Vanderbilt Residences.”

Read that twice, because it is unusual. A developer normally welcomes a high recorded price in its own building. This one went out of its way to distance itself from one. The reason is in the asking prices: the residences still available are offered between $5.45 million and $9.98 million, according to En pies cuadrados. A 2023 contract does not describe that.

And it is still not in the MLS. We checked our own export. Across thirty-six months of Stellar MLS closings for all of Puerto Rico, there is no Vanderbilt Residences sale and no closing anywhere on the island between $7.9 and $8.0 million other than one in Dorado Country Estates in December 2023. The $7.95 million is in the deed record, not in the MLS — which is where most buyers, and most search portals, would look for it.

One warning that follows from the same search. Type “Vanderbilt” into the MLS and what comes back is Vanderbilt Lagoon in Aguadilla, a penthouse that closed at $790,000 in May 2025. Same word, different coast, a tenth of the price. It is the kind of thing an automated valuation will happily average into an answer.

So the practical position for a buyer has changed, but less than the headline suggests. There is now one recorded price in the building, and both the developer and anyone pricing against it agree it should not be used as a comparable for today’s inventory. One closing is a data point, not a market. Until a handful more are recorded at current contract terms, a unit here is still being priced against asking prices and against other buildings — not against what Vanderbilt itself has sold for.

What that means against the rest of Condado

From our own review of Stellar MLS, Condado closed 60 sales between January and October 2026, at a median of $852,500. Only six of those cleared $3 million and only one cleared $5 million.

Vanderbilt is not priced against that set. It opened a tier Condado did not previously have. A new tier does not retroactively revalue the buildings around it, and it should not be read as if it did, in either direction.

Available today, October 2026

Seven residences are listed in our MLS feed:

• 1149 Ashford Avenue, Vanderbilt Residences #2001 — 3 bedrooms — $9,979,750
• 1149 Ashford Avenue, Vanderbilt Residences #1602 — 4 bedrooms — $9,520,000
• 1149 Ashford Avenue, Vanderbilt Residences #902 — 4 bedrooms — $9,125,000
• 1149 Ashford Avenue, Vanderbilt Residences #1903 — 4 bedrooms — $7,150,000
• 1149 Ashford Avenue, Vanderbilt Residences #1003 — 4 bedrooms — $6,350,000
• 1149 Ashford Avenue, Vanderbilt Residences #1204 — 3 bedrooms — $6,075,000
• 1149 Ashford Avenue, Vanderbilt Residences #904 — 2 bedrooms — $5,645,000

Availability verified 18 October 2026.

One more residence at the same address is not on that list because it is already under contract: 1149 Ashford Avenue #PH 2201, 5 bedrooms, 10,287 square feet, asking $22,000,000, status Pending. The penthouse of the building is spoken for.

We wrote that residence up in detail when it came to market: Oceanfront Penthouse at Vanderbilt Residences, San Juan. The piece now carries a note that the unit is under contract.

We track which units are genuinely available, what has gone to contract, and what to verify before you sign. Call us at 787-717-6443.Vanderbilt Residences Condado: What Buyers Should Know

Vanderbilt Residences is introducing a new category of oceanfront residential real estate to Condado.

Located at 1149 Ashford Avenue, the development rises approximately 250 feet above one of San Juan’s most recognized coastal neighborhoods and contains 66 residences. Current project information lists occupancy in 2026.

But for buyers, the more important question is not simply whether Vanderbilt is luxurious.

It is:

How should Vanderbilt Residences be evaluated within the broader Condado real estate market?

That requires looking beyond renderings, amenities and asking prices.

New construction, residence size, views, services, HOA structure and eventual closed-sale evidence all matter.

What Is Vanderbilt Residences?

Vanderbilt Residences is a new oceanfront development at the intersection of Ashford Avenue and Earle Street in Condado.

The project has 66 residences in a tower reaching approximately 250 feet, with expansive glass façades designed to capture views of the Atlantic Ocean, Condado Lagoon and the San Juan skyline.

The development combines private residential ownership with a hospitality component.

According to reporting from June 2026, 50 of the 66 units are intended for sale as residences, while 16 are designated for full-time tourism use.

The first residential deliveries were expected to begin in June 2026.

That transition from pre-construction into delivery is particularly important for the market.

As more units close, Vanderbilt will begin producing the actual transaction evidence needed to determine how buyers are valuing this new segment of Condado.

Vanderbilt Residences at a Glance

The development is centrally positioned within Condado, with immediate access to Ashford Avenue, the beach, restaurants, hotels, shopping and neighborhood services.

What Makes Vanderbilt Different From Traditional Condado Inventory?

The biggest mistake buyers can make is treating Vanderbilt as simply another Condado condominium.

Much of Condado’s existing inventory comes from established buildings constructed during different development cycles.

Vanderbilt is introducing:

• new construction,
• contemporary architecture,
• larger floor plans,
• extensive amenity space,
• hospitality-oriented services,
• private outdoor areas,
• and a new price tier.

That combination creates a different product.

It also means that an older condominium nearby is not automatically an appropriate comparable simply because it shares the same ZIP code or Ashford Avenue address.

→ Condado Real Estate Market 2026: What the Latest Sales Data Shows

Our 2026 analysis found that Condado’s median closed price was substantially below the multimillion-dollar levels currently associated with Vanderbilt inventory.

That does not mean Vanderbilt is necessarily overpriced.

It means:

Vanderbilt and the traditional Condado resale market should not be analyzed as identical products.

Vanderbilt Residences Amenities

One of the defining features of Vanderbilt is the scale of its amenity package.

The project advertises approximately 25,000 square feet of amenity space, including a 75-foot infinity pool overlooking the ocean.

Amenities listed by the project include:

• oceanfront infinity pool and wet bar,
• cabanas,
• cold plunge pool and jacuzzi,
• fitness center,
• yoga studio,
• wellness center,
• steam and sauna rooms,
• massage rooms,
• private dining room with chef’s kitchen,
• individual wine lockers,
• theater,
• business and conference areas,
• children’s playroom,
• pet facilities,
• EV charging,
• concierge,
• doorman,
• and valet parking.

The project also advertises certain privileges connected with the Condado Vanderbilt Hotel.

For buyers, however, the existence of amenities is only the first question.

The next questions should be:

What does it cost to operate them?

and

What exactly is included in the owner’s HOA and service structure?

HOA Costs Matter More in Amenity-Heavy Developments

Luxury amenities come with operating costs.

That makes the condominium budget particularly important when evaluating Vanderbilt.

For example, one currently marketed Vanderbilt residence lists an HOA of approximately $2,217 per month. The residence is 3,225 interior square feet plus terrace space, but HOA obligations can vary by unit and should always be confirmed from the current condominium documents rather than extrapolated from a listing.

Before purchasing, buyers should review:

• current HOA amount,
• what services the HOA includes,
• insurance structure,
• reserve funding,
• staffing expenses,
• valet costs,
• amenity operating costs,
• maintenance responsibilities,
• and whether additional assessments are anticipated.

A buyer comparing Vanderbilt with an established Condado building should therefore compare total ownership cost, not simply purchase price.

→ What Does It Cost to Own a Condo in Condado?

What Do Vanderbilt Residences Cost?

Vanderbilt is positioned at the upper end of Condado’s residential market.

Pricing varies materially by:

• residence size,
• floor,
• exposure,
• configuration,
• terrace size,
• and view.

For example, a currently marketed Residence 904 is offered at $5.645 million and contains approximately 3,225 interior square feet plus a 470-square-foot terrace.

Our 2026 MLS market analysis also identified Vanderbilt residences in pending status at approximately $5.43 million and $6.82 million.

Those figures are useful.

But they need to be interpreted correctly.

An asking price is not a closed sale.

A pending transaction is not a closed sale.

The strongest valuation evidence will ultimately come from completed transactions once more Vanderbilt residences close.

Vanderbilt Pricing vs. Condado Resale

This distinction becomes particularly important when comparing Vanderbilt with the broader Condado market.

In our 2026 Condado analysis:

• the median closed price was approximately $925,000,
• the median sold price per square foot was approximately $630/SF,
• and 43% of analyzed transactions closed above $1 million.

→ Condado Real Estate Market 2026

Those numbers do not establish Vanderbilt’s value.

But they illustrate just how different the new development is from the neighborhood-wide resale market.

If a Vanderbilt residence is priced several times above Condado’s median sale, the buyer should understand why.

The answer may include:

new construction,

oceanfront position,

residence size,

architecture,

amenities,

services,

views,

and scarcity.

That premium needs to be evaluated as part of the specific product — rather than simply assumed to represent appreciation across all of Condado.

Price Per Square Foot Needs Context

Price per square foot is especially tempting when analyzing a project like Vanderbilt.

But $/SF can become misleading when used without context.

A buyer should determine whether a quoted $/SF is based on:

interior air-conditioned square footage

or

total square footage including terraces.

That difference can materially change the calculation.

For example, the currently marketed Residence 904 lists approximately 3,225 interior square feet and approximately 3,695 total square feet including terrace space.

Using one measurement instead of the other produces a different $/SF.

Before comparing Vanderbilt with another property, make sure both calculations use the same methodology.

→ Condado New Construction vs. Resale: What Buyers Should Know

Ocean View vs. Condado View

Not every residence within the same building will compete equally.

Vanderbilt’s architecture creates multiple exposures, including views toward:

• the Atlantic Ocean,
• Condado Beach,
• Condado Lagoon,
• and the surrounding skyline.

Floor level and orientation can therefore have a meaningful effect on value.

A buyer should not assume that a sale on one line establishes the value of another residence simply because the square footage is similar.

In a luxury high-rise, the correct comparable may depend on:

line + floor + exposure + size + outdoor space.

What Buyers Should Review Before Purchasing

A Vanderbilt purchase deserves the same due diligence as any significant real estate acquisition — with additional attention to new-development issues.

1. Condominium Documents

Review the declaration, bylaws, house rules and any amendments.

Understand what you own and which areas are common elements or limited common elements.

2. HOA Budget

Determine the current monthly amount and what is included.

Review projected expenses, reserves and future obligations.

3. Insurance

Understand the condominium’s master policy and what coverage the individual owner will need.

4. Parking and Storage

Confirm exactly which spaces or storage areas are conveyed with the residence.

Do not rely only on marketing material.

5. Generator and Water Systems

Confirm which systems are backed up and what functionality remains available during interruptions.

6. Rental and Hospitality Rules

Because Vanderbilt combines residential and hospitality components, buyers should understand the rules governing rentals, hotel participation and owner use.

7. Delivery Condition

For a newly delivered residence, review:

• finishes,
• appliances,
• punch-list items,
• warranty procedures,
• and construction completion obligations.

8. Comparable Sales

Separate:

closed sales

from

pending transactions

and

developer asking prices.

Each provides useful information, but they answer different questions.

Is Vanderbilt a Branded Residence?

Buyers sometimes refer to Vanderbilt as a branded-residence product because of its relationship with the adjacent Condado Vanderbilt hospitality ecosystem and available property privileges.

However, buyers should focus less on the label and more on the actual legal and operational structure.

Important questions include:

• What services are contractually included?
• Which hotel privileges are guaranteed?
• Are services controlled by the condominium or another operator?
• What can change?
• What fees apply?

A brand or hospitality affiliation can contribute to the ownership experience.

It does not eliminate the need to understand the condominium documents.

Who Is Vanderbilt Best Suited For?

Vanderbilt may appeal particularly to buyers seeking:

Oceanfront urban living

Condado offers a very different environment from Puerto Rico’s resort communities.

Lock-and-leave ownership

Full-service staffing can appeal to owners who travel frequently or use Puerto Rico as a second residence.

Large-format luxury condominium living

Some Vanderbilt residences offer substantially more space than traditional urban apartments.

New construction

Buyers who prioritize modern systems, layouts and finishes may prefer newer inventory.

Walkability

Restaurants, beaches, hotels and many everyday services are concentrated around the immediate area.

But Vanderbilt will not necessarily be the best fit for every luxury buyer.

Someone prioritizing privacy, acreage or a gated resort environment may prefer a market such as Dorado or Bahia Beach.

Vanderbilt vs. The ICON

One comparison buyers will naturally make is Vanderbilt Residences versus The ICON.

Both are new developments on Ashford Avenue.

But they are not identical products.

Vanderbilt contains 66 residences and approximately 25,000 square feet of amenity space.

The ICON contains 32 residences and approximately 5,000 square feet of indoor and outdoor amenities.

The difference illustrates why even Condado’s new-construction market needs to be analyzed development by development.

A buyer should compare:

• unit size,
• architecture,
• views,
• amenities,
• services,
• HOA,
• privacy,
• delivery,
• parking,
• and pricing.

→ The ICON Condado: What Buyers Should Know

Vanderbilt vs. Established Condado Condominiums

For some buyers, an established condominium may be the better choice.

Established buildings can offer:

• more historical sales data,
• a known operating history,
• potentially lower acquisition costs,
• and, in some cases, lower monthly ownership expenses.

Vanderbilt offers a different proposition:

new construction + extensive amenities + hospitality-level services + oceanfront positioning.

The decision therefore should not be:

“Which one is better?”

It should be:

“Which ownership structure and product better fits the buyer?”

Frequently Asked Questions About Vanderbilt Residences

Where is Vanderbilt Residences?

Vanderbilt Residences is located at 1149 Ashford Avenue in Condado, San Juan, Puerto Rico.

How many residences are at Vanderbilt?

The project contains 66 total units, with reporting indicating that 50 are intended for residential sale and 16 for full-time tourism use.

Is Vanderbilt Residences completed?

The development moved into its delivery stage in 2026, with the developer stating in June that the first units would begin delivering that month.

Does Vanderbilt have beach access?

The development is oceanfront in Condado, and the project markets Condado Beach as being directly at the property’s doorstep.

What amenities does Vanderbilt have?

The approximately 25,000-square-foot amenity program includes a 75-foot infinity pool, wellness and fitness facilities, private dining, business spaces, theater, concierge, doorman and valet services, among other amenities.

How much are the HOA fees?

HOA fees vary by residence. One current listing for Residence 904 shows approximately $2,217 per month. Buyers should verify the current fee and budget directly from the condominium documentation for the specific unit being considered.

Are Vanderbilt asking prices good comparables for other Condado condos?

Not automatically. New construction should be compared with properties that compete for a similar buyer and provide similar characteristics. Asking prices and pending transactions should also be distinguished from closed sales.

Can Vanderbilt Residences be rented?

Because the project has both residential and hospitality components, rental and hotel-participation rules should be reviewed from the current condominium and operating documents before purchasing.

The Bottom Line

Vanderbilt Residences is important to Condado for more than its architecture or multimillion-dollar pricing.

It represents a new residential category entering an established market.

With 66 units, oceanfront positioning, extensive amenities and the transition into deliveries in 2026, Vanderbilt is beginning to create the closed-sale evidence that will eventually help define the upper end of Condado’s next market cycle.

But buyers should resist one shortcut:

New does not automatically mean comparable.

The appropriate analysis still depends on the residence, exposure, floor, size, amenities, total ownership cost and actual closed-sale evidence.

That is where buyer representation becomes particularly important.

Considering Vanderbilt Residences?

At InvEstate Puerto Rico, we help buyers evaluate Vanderbilt Residences within the broader Condado market — including available inventory, competing properties, comparable transactions, ownership costs, condominium documentation and negotiation strategy.

Whether Vanderbilt is the right property depends on more than the address.

It depends on whether the residence fits your objectives.

→  Living in Condado, Puerto Rico: Real Estate, Luxury Condos & New Developments

→ Condado Real Estate Market 2026

→ The ICON Condado: What Buyers Should Know

→ Condado New Construction vs. Resale

→ What Does It Cost to Own a Condo in Condado?