This story has been updated to include a link to a video posted by Architectural Digest.
On the off chance you might have missed this hot real estate news, we point you to a recent Los Angeles Times article featuring several mega-million dollar condos currently on the market. The prices are so over-the-top, it makes the recent high-water mark sales of our stately neighborhood mansions seem quaint.
According to the Times:
“Up for grabs: the city’s latest showstopping eight-figure penthouse at a decade in the making and finally for sale for $50 million off-market at a time when luxury condos in L.A. are more coveted than ever. If it sells at that price, it’ll break the county’s all-time condo sales record of $35 million, for a Century City penthouse that Candy Spelling bought in 2010 when she was looking to downsize.”
In case you are interested, check out The Residences at 8899 Beverly in West Hollywood, a recently transformed mid-century office building by Richard Dorman, built in 1964, that once housed the corporate office of ICM and was the original location of Madeo Ristorante. Here you will find two luxury penthouses, both available for sale. Click here to view a video tour posted by Architectural Digest.
The Times also reported on the over-the-top dinner the developers hosted for top real estate brokers, complete with female concierges. (This actually sounded a little creepy, but to be fair, perhaps we are missing something, having not been invited.)
The pricing of 8899 Beverly is a big leap from the most recent mega-sale. According to the Times, the highest price condo sale this year went to a penthouse at the Pendry Residences West Hollywood by Montage Hotels, which closed for $21.5 million. In comparison, a 2,681-square-foot two-bedroom unit in the same building sold for $13 million last summer, the highest price per square foot — $4,848 — in the history of L.A. condo sales.
Who says the ultra luxury real estate market is just for mansions?
