Last year, the international real estate investment firm Lamar Development acquired a stately office building at 9 Cedaceros Street in Madrid‘s historic Cortes district. Headlines announced the sale in December 2024, noting the conversion of the building’s six floors of offices into a limited collection of 22 luxury residences.

Lamar Development, no stranger to groundbreaking projects in both Spain and Dubai, is behind $6 billion worth of completed and forthcoming residences that showcase the talents of global architects like David Chipperfield, Arthus Casas, and Junya Ishigami. Casa Lamar Cedaceros 9 marks the beginning of the developer’s €250 million investment into ultra-luxury developments across Spain and “key European markets,” press materials state. Here, we take a first look at the Casa Lamar property, where pricing starts at €2.3 million ($2.68 million) for residences and €7.5 million ($8.71 million) for its two penthouses.

Designed by the local firm Touza Arquitectos, whose work is guided by the belief that architecture is a service to society, the spare, modern exterior blends seamlessly with interiors by Spanish architect Patricia Urquiola. Striking marble and travertine walls are a few of the natural materials first noticed in the communal spaces and extended into the residences, which come in one- to five-bedroom layouts. The duplex penthouses offer three- and four-bedroom plans that include private terraces.

“The residences balance natural warmth with contemporary elegance,” the developer says in a statement. Supplied imagery makes that clear from the penthouse foyer, where a staircase with smooth curves winds upstairs. A massive stone island anchors the kitchen, which is separated from the spacious living room by an oak-paneled wall, while six guests are comfortably seated in the dining area nearby with decorative lighting overhead. Sunlight pours in through soaring windows in the primary suite, illuminating a wooden media center. 

Alternative arrangements for living and dining rooms, as well as optional designs for minimalist kitchens and cozy bedrooms, are found across the other units, and almost 11,000 square feet of amenities are exclusively accessible to residents and their guests. 

Among the fitness and wellness-oriented features are boxing and Pilates facilities, an indoor pool, sauna and steam rooms, and three immersion pools ranging from cold to hot. More leisurely amenities are a sommelier-curated private wine cellar, a Residents’ Club and Lounge Bar, and a rooftop terrace with panoramic vistas over Madrid. Two final perks that add to its appeal: private garaging and a 24-hour concierge that assists with daily errands and other bespoke requests.

 “Casa Lamar will bring a fresh perspective on luxury to the Madrid residential market,” says Henri Hottinger, partner of Lamar Development, in a statement. “We look forward to putting our mark on the cultural landscape of Barrio de las Letras and discovering opportunities in the wider continent of Europe.”

Click here for more photos of the Madrid property.