The 35 residences from Emaar Properties (the Dubai-based firm behind the Burj Khalifa) hit the market in spring 2012 with pre- (or post-) recession prices: $1.5 million to $22.4 million for units that are fully customizable, from floorplan to finish.
To inspire new owners, Beverly West has installed five model residences featuring home collections from designers David Sutherland, Christian Liagire, Ralph Lauren, Armani and James Perse. Residents can choose among five design schemes that all reflect modern California taste and include hand-carved stone entry walls, customized his and hers Italian wardrobe systems from LEMA and built-in whole-bean coffee systems from Miele.
Proudly billed as the most expensive apartment building on the West Coast—rents start in the $4000s, and its Waldo Fernandez-designed penthouse is reportedly asking $40,000—8500 is already 60% leased since its grand opening in November 2012. The first standalone luxury residential project from The Grove developer Rick Caruso was designed by MVE & Partners, who cut out a large oculus in the roof to allow maximum light exposure for the 87 glass-walled units.
When construction on the condo development formerly known as the Madrone stalled after the housing bubble burst in 2009, real estate equity firm Resmark converted the development into a rental building. Its decision to invest further in luxury amenities, including motorized bottom-up window shades in select penthouses and CaesarStone countertops throughout, has paid off, as the redubbed Avenue is now 90 percent occupied since it opened a year ago. Rents start at $2,150 for a studio and $7,225 a month for a penthouse, the largest a 2,300-square-foot corner duplex (which can come furnished or unfurnished).
Flexible lease terms make the Hollywood complex, which has housed the casts of HGTV’s Design Star for two seasons, an attractive option for entertainment industry members working in town for months at a time.
The downtown tower is a draw for local athletes, foreign investors and Southern Californians seeking a pied a terre. Occupying the top half of the 52-story high rise that also houses the Ritz-Carlton and J.W. Marriott hotels, the Ritz offers its residents priority reservations at L.A. Live’s many restaurants, and HOA fees include access to exclusive perks like private screening and dining rooms, wine storage cages and concierge service.
The Residences is now 80 percent sold since opening in 2011, including a 5,798 square foot penthouse that closed at $8.55 million, a downtown record. (Units still available start at $1.9 million for two bedrooms).
The Pacific Palisades building formerly known as Sunset Pacifica was long abandoned until 2011, when 9 Mile stepped in and updated its Cold War trappings with Nest thermostats and Control4 technology, which allows residents to monitor their homes and automate and control lights, temperature and electronic appliances remotely. Fiore Gardens on the ground floor can come upstairs to fill vases, and its neighbor, Studio K, will keep residents fit with complimentary first-year membership (discounted thereafter).
At the new condo development’s April 30 unveiling, guests milled through three model units, staged tastefully with furniture from BDDW and Minotti and art curated by star consultant Esthella Provas.
Located in its own tower adjacent to the W hotel, sales at The Residences have picked up since its 2010 opening, with 60 percent of the units (which start at $589,000) now taken. This spring the W unveiled its seven “WOW Suite” penthouses, each fully furnished by a different L.A. designer (sfa design’s Boho Chic one-bedroom has already closed for $1.4 million). Still available: the raw 25,000 square foot unit encompassing the 15th floor, which includes eight bathrooms, a beauty parlor and a ballroom that fits 250 guests, listed at $45 million.
Elsewhere in the building, the W’s signature Living Room lounge and residents-only cabanas and pool deck on the rooftop park offer communal places to relax.
The Etco Homes development hasn’t yet hit MLS and won’t have its grand opening until late August, but almost a third of its 34 condos have already sold, mostly to international buyers looking for a stateside stomping ground.
Located on a quiet residential street in Beverly Hills, each of the two- and three-bedroom units (prices start at $1.5 million for nearly 2,000 square feet) includes three parking spaces in the subterranean garage and large, multi-slide Fleetwood windows and doors that open to private patios.
The first West Coast outpost of extended-stay hotel chain AKA opened for stints of one month or more (from $395 a night) in the former Crescent Apartments space last November.
Residents get preferred seating at Spago downstairs, which also offers an exclusive room service menu when they prefer to dine in their fully equipped suites. The property features a residents-only garden courtyard and complimentary use of Republic bicycles.