A7,000-square-foot penthouse atop Four Seasons Residences Deer Valley has listed at $37 million, marking the sharpest climb yet in branded ski-resort pricing. Developer Kevin Maloney—whose Property Markets Group built Manhattan's supertall 111 West 57th Street—is testing whether Utah can sustain per-square-foot numbers previously reserved for Aspen core and Jackson Hole trophy blocks. The unit sits at the apex of the resort's first residential tower, scheduled to open winter 2026.
The listing arrives as Four Seasons Hotels and Resorts accelerates its residences vertical across three distinct altitude plays. Construction began this month on a $1.1-billion private-residence club inside Disney's Golden Oak community in Orlando, targeting family-office buyers seeking branded turnkey product with guaranteed occupancy windows. In Austin, an $870-million construction loan closed in late March for a 210-acre lakefront resort community west of the Pennybacker Bridge, delayed since 2019 by capital-structure complications. Deer Valley represents the brand's first entry into Park City's expanding ski economy, where Vail Resorts has committed $315 million in lift and terrain infrastructure through 2028.
The $37-million ask matters because it establishes a new benchmark for non-Aspen ski residences. Maloney's pricing implies Four Seasons can command $5,286 per square foot in a market where comparable new-build inventory at St. Regis Deer Valley and Montage Deer Valley has traded between $3,200 and $4,100 per square foot over the past 18 months. If the penthouse transacts above $32 million, it resets the ceiling for Utah luxury product and likely pulls forward additional ultra-tier launches at Mayflower Mountain Resort, where Extell Development holds 1,400 acres zoned for mixed-use. The unit includes private ski-in access, a 2,500-square-foot rooftop terrace, and dedicated concierge operating from Four Seasons' central services hub.
For allocators, this is a branded-residences stress test with implications beyond Park City. Four Seasons closed $4.2 billion in global residence sales in 2023, up 34% year-over-year, with average unit prices rising from $6.8 million to $9.1 million. The model depends on scarcity: fewer than 50 Four Seasons-branded buildings exist worldwide, and the company maintains strict unit caps to preserve resale values. Deer Valley's tower holds just 26 residences across 12 floors. If Maloney's penthouse clears $35 million, expect accelerated launches from Rosewood, Aman, and Montage, all of which have filed pre-development applications for Park City–area sites since early 2024. The secondary question is whether buyers will pay luxury-hotel premiums for altitude product in markets without Aspen's four-decade brand depth.
Watch for transaction data from Deer Valley's lower-floor units, priced between $8.5 million and $22 million, which began pre-sales in February. First closings are scheduled for Q1 2027, and absorption rates above 60% by year-end 2025 would likely trigger additional Four Seasons ski announcements in the Rockies. Separately, track whether the Austin lakefront project meets its Q4 2025 groundbreaking target; delays there would signal tighter underwriting standards across the brand's North American pipeline.
Deer Valley's new Mayflower base area—where Four Seasons anchors the village core—received its final operating permits in March, clearing the resort's 2026-2027 season debut and eliminating the largest remaining risk to Maloney's sales timeline.
The takeaway
**$37M** Deer Valley penthouse tests whether Four Seasons can command Aspen-tier pricing in emerging ski markets; transaction outcome will govern **2025-2026** branded-altitude pipeline.
four seasonsbranded residencesdeer valleyski real estateultra luxurykevin maloney
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