Montage Residence Beverly Hills Sells Last Unit
After almost four years, the five-star hotel’s residences have sold out.
Call it a Golden Triangle milestone: The last condominium on the market at the Montage Residences Beverly Hills has sold. The 3,800-square-foot, three-bedroom unit, the last of the 20 unique condominiums offered at The Montage, was purchased by an undisclosed buyer, bringing total sales of the residences to more than $176 million.
The residences occupy the top three floors of the luxury hotel. Ranging from 1,900 square feet to 5,700 square feet, the homes, which feature details such as 18-foot-high ceilings, octagonal living rooms, limestone fireplaces and state-of-the-art kitchen appliances, have sold for between $4 and $14 million.
“This comes with all of the amenities of a five-star hotel and the privacy of a home with separate entrances and parking,” says Frank Symons, executive vice president/CEO, Sotheby’s International Realty, Western Region, which was the exclusive listing agent on all units, and was co-exclusive agent with the developer, ORES, on the last unit.
Residents in the building have included Judge Judy’s Judith Sheindlin, former owner and chairman of the Los Angeles Dodgers Frank McCourt, and philanthropist and granddaughter of J. Paul Getty, Ariadne Getty, who reportedly purchased a 5,781-square-foot unit on the seventh floor for $14 million in 2012.
The sellout reflects a broader trend in high-end vertical housing in Los Angeles. The 224 luxurious high-rise units at Ritz Carlton Residences at L.A. Live, which go for approximately $1.3 million to $9.3 million, are almost completely sold out, while the 24-story Carlyle Residences, located on the Wilshire Corridor, are now more than 60 percent sold, with $80 million in sales during 2013.