Los Angeles luxury brokers like to say the coronavirus has created pent-up demand in the local market, but not at the prices sellers are asking.
That may have been the case for “Friends” star Matthew Perry, who just slashed the asking price on his massive Century City penthouse by nearly 25 percent, according to the Los Angeles Times.
Perry relisted the 9,300-square-foot unit at Related’s The Century tower for $27 million, after having first listed it in August 2019, asking $35 million. The new price would still work out to $2,903 a foot, a 35-percent markup from the $20 million he paid in 2017.
The unit occupies the entire 40th floor of the 42-floor Century, and includes four bedrooms, eight bathrooms, floor-to-ceiling windows overlooking the city, and four private terraces. There’s also a fireplace in the living room and a large eat-in kitchen.
Greg Holcomb and Cassandra Petersen with Compass have the listing.
The Century was designed by Robert A.M. Stern, with the standard luxury amenities like a pool, gym, movie theater and private wine storage. Nearby, Michael Rosenfeld’s Woodridge Capital Partners is working to complete its $1.8 billion Century Plaza condo tower, set to open in mid-2021.
L.A.’s condo market was sluggish for the better part of two years, but began picking up in the first quarter before the pandemic squashed that recovery. [LAT] — Dennis Lynch