Nahla Capital and GPI Companies are putting together “For Sale” signs for their swank Beverly Hills condominium tower, with homes expected to sell for up to $40 million.
Nahla, based in New York, and Brentwood-based GPI have picked Sally Forster Jones and Tomer Fridman of Compass to lead sales for the Rosewood Residences Beverly Hills at 9900 South Santa Monica Boulevard, the Los Angeles Business Journal reported.
Sales will officially launch this summer and the development will be completed next year.
The $100 million boutique complex will include 17 condominiums managed by Rosewood Hotels & Resorts, a Hong Kong hospitality company known for operating luxurious residential-style hotels.
The Rosewood Residences, designed by Danish architect Thomas Juul-Hansen, is under construction on a site last occupied by the famous Friars Club, launched by the likes of comedian Milton Berle. MVE + Partners serves as the executive architect.
The condominium tower is rising next to the Peninsula Beverly Hills hotel and across from the Beverly Hilton and Waldorf Astoria Beverly Hills hotels, in the Golden Triangle district.
The condos will range from 3,000 to 7,000 square feet, each with private elevator access, soaring foyers, gourmet kitchens with double islands and mudroom/laundry rooms accessed by a service elevator.
Nearly half the residences will have private swimming pools. Some will have outdoor kitchens, wet bars and fire pits.
The Rosewood Residences will have a community swimming pool, spa and fitness center, plus access to a communal rooftop lounge and dining area.
Developers hope to draw a five-star restaurant, open to the public, which can serve residents in their homes.
The development will include 12,700 square feet of shops and restaurants and a three-level underground parking garage.
Developers hope to command $4,000 per square foot for the units, which would range from two to five bedrooms, and average 4,100 square feet.
The largest condominium, at 7,300 square feet, would come with its own private pool, butler’s pantry and private access to a potential five-star restaurant. The developers hope it will sell for $40 million, or more than $5,000 per square foot.
When completed, it will join an emerging collection of high-end Los Angeles condos poised to sell above the record $35 million set in 2010 by Candy Spelling, widow of television producer Aaron Spelling, when she bought a penthouse in Century City.
At the new 8899 Beverly luxury building in West Hollywood, owners last July sought $50 million for a penthouse – and $100 million for adjoining double units.
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Westside condo lists for $39M
A month earlier, a 22nd floor penthouse at Beverly West at 1200 Club View Drive in Westwood listed for $39 million.
In January of last year, a 13,000 square-foot penthouse went on sale at the new Four Seasons Private Residences Los Angeles at 9000 West 3rd Street in Beverly Grove for $75 million.
— Dana Bartholomew