Townscape Partners has a lofty target for the penthouse atop its new condominium project in West Hollywood: $50 million.
One of the grandest penthouses in Los Angeles has hit the market at 8899 Beverly Boulevard, the Los Angeles Times reported. A tandem penthouse next door will be available this fall for $50 million.
If either sells at the asking price, it would break L.A. County’s all-time condo sales record of $35 million, which Candy Spelling paid in Century City in 2010.
If sold together, the combined East and West penthouses would make up the largest single penthouse in the world, at 20,000 square feet, according to the newspaper..
The East Penthouse, the first top-floor condo to hit the market, was designed by Olson Kundig, an architectural firm based in Seattle.
The four-bedroom, five-bath penthouse is nearly encircled by floor-to-ceiling motorized glass walls, according to Architectural Digest.
With the windows open, travertine floors blend seamlessly into an exterior wood cantilever overlooking the Hollywood Hills to Downtown Los Angeles.
The penthouse features 14-foot ceilings and a private elevator. It includes an open floor plan with a show kitchen and a grand room divided into a dining area, living room and lounge. A custom dining table can seat 14. A prep kitchen has four bar stools.
A primary suite and private study offer stunning views, as do en suite bathrooms.
Residents of the 40-unit, 10-story main tower and eight adjacent townhouses have access to round-the-clock services, including a valet, bellhop and doorman; a 12,000-square-foot deck with a pool; a dog park; a fitness center and yoga studio; and a restaurant with a private owner entrance to open soon.
Historically, Los Angeles has lagged behind other global cities when it comes to expensive lofty living. But the desire to buy big stand-alone homes shifted during the pandemic, real estate brokers told the Times.
Trophy condos, with turnkey ease, are now in demand.
The number of condos in Greater Los Angeles that closed for more than $5 million in the second quarter soared 175 percent year over year, according to a report by Sotheby’s International Realty.
There are now 10 publicly listed condos for sale in Los Angeles for $10 million and up, and more in development.
A 22nd-floor penthouse on the Westside just listed for $39 million. A penthouse at the hotel-branded Four Seasons Private Residences in Beverly Grove has listed for $75 million. And this month, a penthouse at the Pendry Residences West Hollywood closed for $21.5 million, making it the priciest condo sale this year.
– Dana Bartholomew
Read more
Residential
Los Angeles
Townscape Partners releases pricing at 8899 Beverly
Residential
Los Angeles
8899 Beverly out of gate with new high for LA condo