The term 'Ritzy Residence' can be described by two crossword solutions: PALACE (6 letters) and ESTATE (6 letters). A PALACE is a large and luxurious residence, usually owned by a monarch or other powerful figure. An ESTATE is a large piece of land with a house or other buildings on it, often owned by a wealthy family. Both terms refer to a residence that is grand and luxurious, and thus the term 'Ritzy Residence' is an appropriate description.