Median housing prices in Portland may have dipped this year, but when it comes to luxury apartments, our city doesn't cut corners. A condo on the South Waterfront was just listed this past week—for a whopping $9.3 million.

The condo in question is a 20th-floor penthouse apartment in The Meriwether in South Waterfront. The property covers a whole floor, totaling 7,766 square feet, including about 1,500 square feet of decks. It has five bedrooms, four bathrooms and three fireplaces and, although the streetcar runs nearby, six parking spaces. Property taxes were $63,640 last year.

Public records show that the property is owned by Ronna Hoffman. That's the same Ronna Hoffman who endowed Lewis and Clark College's contemporary art gallery in 1997. Her husband, Eric Hoffman, is the CEO of Hoffman Construction, whose numerous Portland projects include The Nines hotel and the Nike headquarters expansion.

The Hoffmans bought the penthouse in May of 2006, for $2.6 million. Custom designed by Jim Olson of Olson Kundig Architects, it includes gallery spaces, a gourmet kitchen, a balcony, a wet bar, and an adjoining guest suite.

To put the asking price in context, it's twice the cost of the most expensive condo that sold in Portland two years ago. The second priciest condo currently on the Portland market is a 27th floor unit at NW 10th and Northrup, asking $6.995 million.