Six Condo Sales Add Up to $53 Million at 8899 Beverly

The sale of six condos, with a combined price of $53 million, in ultra luxury building 8899 Beverly was made public last week.

Townscape Partners, owner of the building at 8899 Beverly Boulevard in the West Hollywood area, declined to confirm how many residences have been sold at the 40-unit building, but word on the street said 12 residences, or around 40 percent of the building, have found buyers eight months after sales officially started.

The most recent sale took place Jan. 9 for the two-bed, two-bath unit 5G, which was sold for about $3.7 million. Five other sales were recorded on Jan. 3. The price spread for these condos ranged from $8.3 million to $10.6 million, with an average of nearly $9.9 million.

The priciest condo of this recent sales surge was 8899 Beverly’s residence 4A, which sold for $10.6 million. The two-bedroom, five-bathroom, 3,200-square-foot unit was bought through Denise Snanoudj of The Agency. She made a social media post on the closing on April 29, a few weeks after the official opening for sales at 8899 Beverly. A building representative said that the building’s unit sales recently made public just happened to be recorded at the same date.

The other condos were acquired by separate buyers and represented by different buying agents. The identities of the buyers were not revealed. The listing agents for the 10-story building were Fredrik Eklund and Cory Charlupski of Douglas Elliman.

The building’s two penthouses were offered as a $100 million package, and are still on the market. If the two penthouses are sold together, the $100 million price tag would place the penthouses in the territory for a Los Angeles record.

Townscape worked with architectural firm Olson Kundig to redesign 8899 Beverly, which was originally built in 1964. The post-remodel debut came at the same time as a development announcement of hotel-branded upscale condo buildings such as Mandarin Oriental Residences Beverly Hills and One Beverly Hills, which is linked to the Aman resorts. Developers and salespeople for these projects contended that these buildings’ development were proof that L.A. residents were becoming more interested in living in luxe condos, similar to well-heeled buyers in Manhattan and Miami Beach.

In February, Townscape will open sales for its Rosewood Homes, which are located adjacent to the 8899 Beverly building. Rosewood prices have not been disclosed.