Carmel condo at top of City Center could fetch up to $7.5M

From the tallest spot in Carmel—a luxury condominium at the top of Carmel City Center called The SkyPalace—you can see the Indianapolis skyline and Topgolf’s nets in Fishers.

The SkyPalace, as named by its owner, Carmel native P. Nathan Thornberry, at 720 S. Rangeline Road will go on the market later this month at a price that could outpace the highest sale price for a condo in the Indianapolis area.

The seventh-floor condo is two units combined into one. Unit 701 has 4,000 square feet of living space with another 2,500 square feet outdoors on the patio. The smaller Unit 705 is 1,500 square feet.

Thornberry said the asking price for Unit 701 will be $6.5 million, while Unit 705 will go on sale for $1.3 million. Together, he would look to sell the two for $7.5 million. Andy Deemer and Stephanie Deemer with F.C. Tucker Co. are representing Thornberry in the sale.

Thornberry called The SkyPalace “a mega-condo atop Carmel” that is completely automated and soundproof.

“It’s all open. It’s all windows, basically, all the way around,” he said. “And it just makes you feel like you’re in the sky, which for me makes a lot of sense because I fly planes. I love being in the sky.”

The SkyPalace has five bedrooms, a room with three bunk beds, a rooftop pool, eight parking spots, three private entrances, two hidden passages, a safe room (with screens showing camera views throughout the condo and a statue in the middle of the room of St. Michael the Archangel subduing Satan), a sauna, three fire pits, three outdoor grilling areas and a bar.

One of the hidden passageways leads from the larger condo unit to the smaller and is designed to look like the entrance to Narnia depicted by the author C.S. Lewis.

“I don’t build anything that doesn’t have a hidden doorway,” Thornberry said. “I find them interesting.”

Thornberry purchased two unfinished condo units atop Carmel City Center in 2018 for about $1 million and spent about two years working on the space before moving in. Over the past three years, he has used the space for corporate parties and other gatherings.

“It’s the first place I’ve ever owned that every time I walk in, it gave me a smile because you walk in and there’s this massive view,” Thornberry said.

He said he is preparing a house on the west side of Carmel, and he also has residences in the Dominican Republic and in Fort Lauderdale, Florida.

In 2016, a 5,514-square-foot luxury high-rise condominium on the 22nd floor of the Conrad Indianapolis hotel sold for $4.8 million. At the time, it was a record for the largest single-family residential sale in Marion County. (Last year, Linden House, the estate owned by the late Indianapolis businesswoman and philanthropist Christel DeHaan sold for $14.5 million, the highest ever paid for a private estate in Indiana history.)

A fourth-generation Carmel resident, Thornberry is president of the Carmel-based venture capital firm Thornberry Group. Last year, Seattle-based Porch Group Inc., which offers software for the home services and insurance industries, acquired Thornberry Group’s home-warranty and home-inspector software and services business Residential Warranty Services for $34 million.

Carmel City Center, developed by Carmel-based Pedcor Management Group, took shape over more than two decades. It includes the Palladium performing arts center, Hotel Carmichael and multiple buildings with dining, shopping and residential space.