$12M WeHo Listing Tops Condo Contracts

Los Angeles’ condominium market woke up from its slumber last week.

Four condos, equating to asking dollar volume of $31.6 million, went into contract last week, according to Douglas Elliman’s Eklund Gomes team.

The contract count is the most activity seen in a week since the Eklund Weekly Luxury Report Los Angeles began last June. The weekly report counts Los Angeles County properties listed in the MLS at $4 million or more.

“This week is all about condos,” Eklund Gomes California Managing Director Marcy Roth said in recapping the week’s activity.

Roth added last week’s condo contracts’ average price of $7.9 million outperformed single-family homes, which averaged $6 million.

At the top of the condo list is a unit at 9040 West Sunset Boulevard in the West Hollywood Edition hotel.

Westside Estate Agency’s Stephen Shapiro and Max Shapiro have the listing, which is asking $11.9 million.

Unit 1203 is one of 20 residences located inside the hotel, which touts amenities such as a rooftop pool and spa.

Sitting in the southeast corner of the property, the unit has views of downtown L.A. and the ocean, an over 900-square-foot terrace, blackout shades and motorized doors in several rooms. Three bedrooms and four bathrooms comprise the 3,880-square-foot condo.

Among single-family homes, the asking dollar volume of those that went into contract last week totaled $145.1 million across 24 properties.

Topping out those contracts is 706 North Crescent Drive in the Beverly Hills Flats neighborhood.

Carolwood Estates’ Drew Fenton has the $14.8 million listing.

Property records show the sellers are Loren Rothschild, president of investment firm Sycamore Hill Capital Group, and his wife Frances Rothschild, a judge in the California Second District Court of Appeal.

The seven-bed, eight-bath home is 6,854 square feet. Highlights of the Mediterranean-style property include a two-story entry, staff quarters on the main floor, built-in bookcases and pool.

The Eklund report did not include 620 North Beverly Drive in the Beverly Hills Flats, which has a $32.5 million asking price and went into contract Feb. 5. If included, it would bump L.A. County’s total contracts and volume to 29 and $209.2 million, respectively. That compares with 26 contracts totaling $199.7 million for the week ended Feb. 2.

Beverly Drive has nine beds and eight baths spanning over 10,000 square feet. It’s also listed by Carolwood Estates’ Fenton.

The home’s primary suite has its own sitting room and office. Other highlights include a two-bedroom guest house, screening room, pool, pool house, tennis court and gardens.