A $2 million, 4,000 sqaure-foot condo for Phoenix empty nesters

A new luxury development at Desert Ridge hopes to appeal to wealthy, older homeowners who want the convenience of a condo without sacrificing too much square footage.

The big picture: About a quarter of Valley homes with three or more bedrooms are owned by baby boomers, per a recent Redfin analysis .

• While most empty-nesters are holding on to their large abodes because they are mortgage-free and don't want to deal with today's wild housing market , a subsection can't justify trading their 5,000-square-foot houses with high-end amenities for a 1,200-square-foot condo.
• That's who the "D'Luxe floorplan" is for, according to developer The Statesman Group.

Driving the news: The Luxe at Desert Ridge , which welcomed its first luxury condo residents in 2022, announced its new 4,000-square-foot layout last week.

• Only six units are available.

Zoom in: The D'Luxe condos have 3,200 square feet of interior space with three bedrooms, a den and three and a half baths. The patios, which include an outdoor chef's kitchen, span 891 square feet.

• The unit includes two parking spaces and two storage units in the community's private underground garage.

The intrigue: "The biggest concern for buyers downsizing from a single-family home to a condo was the lack of walk-in closets," The Statesman Group president Alana Mann said in a statement. "We solved that problem."

• The units have two walk-in closets (one that's 14 feet by 10 feet and another that's 7 feet by 18 feet) and are fully customizable.

1 big price tag: The D'Luxe floor plan runs just under $2 million.