Grammy Award-winning musician The Weeknd made a splash in 2019 when he paid $21 million for a 8,000-square-foot penthouse on the 18th floor of Emaar Properties’ Beverly West at 1200 Club View Drive in Westwood, according to property records.
A pandemic and market slowdown later, The Weeknd, born Abel Tesfaye, has sold the penthouse for $19 million or $2,390 per square foot. The buyer was not identified.
The sale price is 3.8 percent lower than the condo’s most recent ask of about $19.8 million. The penthouse was initially listed in February for $21 million.
The most recent sale is $2 million, or 9.5 percent, less than what The Weeknd paid for the unit four years ago.
The buyer’s agent, Brian Lane of Madison Residential, declined to comment for this story. The penthouse was listed by Angel Salvador of The Beverly Hills Estates.
The four-bedroom, six-bathroom penthouse’s amenities include a gym with a mirrored wall. The Beverly West is located adjacent to the Los Angeles Country Club, where the 2023 U.S. Open Golf Championship was held in June.
The Weeknd’s transaction takes place shortly after another ultra luxe penthouse made news with a price cut. In July, a 13,000-square foot penthouse at Four Seasons Private Residences Los Angeles, located a few miles away from The Beverly West, announced a price cut to $37 million. Its original ask was $75 million. Billy Rose, co-founder of The Agency, said he felt it was listed at the right price.
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“$75 million was aspirational, but One LA is a singular, one-of-a-kind property, and it is hard to know what the market will bear,” he said.
In July, there were 16 signed contracts for luxury condos in Los Angeles, which represented a decline of 45 percent in a year-over-year comparison. In June 2023 there were signed contracts for 21 luxury condos, making the July number a decline of 23 percent.