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As branded residences continue to take off in Los Angeles — such as the Pendry Residences on the Sunset Strip and the new Mandarin Oriental Residences on Wilshire Boulevard — the in-development Rosewood Residences Beverly Hills is making moves to open next year.
Nahla Capital and GPI Companies, the developers of the Rosewood Residences, have announced that top L.A. real estate agents Sally Forster Jones and Tomer Fridman of Compass have been tapped to lead sales alongside Compass Development Marketing Group for the luxury project, which broke ground in June of last year and is expected to open near the end of 2024.
Located on South Santa Monica Boulevard and across Charleville Boulevard from the Peninsula Hotel, the project includes four floors encompassing 17 residences, each of which has a unique design. They range in size from around 3,000 square feet and go up to around 7,500 square feet at the penthouse level. The starting price of the residences, per the agents, will be around $10 million; Fridman says that the price point of the largest unit is not yet solidified.
Units will offer private elevator access, entry foyers, chefs’ kitchens with double islands and service elevators opening onto laundry room/mudroom areas and large terraces. “Every single one of them has a special, beautiful outdoor space,” says Forster Jones. “Being here in Beverly Hills, the indoor-outdoor experience is a key component in the design.”
Both Fridman and Forster Jones stress that the units are far from the average luxury condo. “They really are estate-style homes. They really are an alternative to a house in terms of the scale, in terms of the boutique feel and the breadth of the balconies. They aren’t just pied-à-terres,” he says, adding that six of the units have their own private pool.
“It’s just a great location. It has a residential feeling but it is right there in terms of walking distance to all the commercial establishments in Beverly Hills,” says Forster Jones, has more than $10 billion in career sales.
“That little stretch of Little Santa Monica is really quaint and intimate. It feels like its own enclave with boutiques and restaurants and cafes and beautiful buildings from the 20s 30s and 40s,” adds Fridman, who closed $830 million in deals in 2022 and whose clients have included Kim Kardashian, Pamela Anderson and Sylvester Stallone.
Additional amenities at the project include a 40-foot swimming pool and whirlpool spa, outdoor kitchens, firepits, an indoor/outdoor bar, a rooftop lounge with dining spaces, a gym, valet, concierge, doorman, security and housekeeping services. “There will be a dedicated Rosewood director of residences who will be on site; if you need a lightbulb changed, they are there to do that,” adds Fridman. Sales of the residences will launch this summer.
The property is designed by architect Thomas Juul-Hansen who is also behind the forthcoming 850-foot-tall Sutton Tower in New York and has created residential designs for clients including chef Jean-Georges Vongerichten.
“We’re going up about a floor a month. Within three months, we’ll be at street level,” says Fridman of construction. Adds Forster Jones, “We have absolutely the largest crane in Beverly Hills I think.” The development cost of the entire project is around $100 million, according to the L.A. Times.
The closest Rosewood hotel to Los Angeles is the Rick Caruso-owned Rosewood Miramar Beach in Montecito, California. Rosewood has yet to announce its plans for F&B at the Beverly Hills residences but is expected to launch a restaurant from a name chef. Having a star chef involved with a branded residence project has become a major selling point in this evolving real-estate space. At the Pendry West Hollywood, Wolfgang Puck, whose Mirois restaurant is located on the roof of the hotel, provides catering and room service for the residences, while owners at the Mandarin Oriental Residences Beverly Hills will be able to order from chef Daniel Boulud’s menu when he opens, Café Boulud, his first L.A. restaurant, on the ground floor there later this year.
The Rosewood Residences Beverly Hills sit on the site of the former Friars Club of Beverly Hills, which was founded in 1947 by Milton Berle; the modernist building was demolished in 2011. The residences are the first standalone condo development in California by Rosewood Hotels & Resorts.
Last year, Genghis Hadi of Nahla Capital told the L.A. Times that he foresees that buyers could be, “Beverly Hills and Los Angeles homeowners who are moving out of large homes and need a lot of the amenities that a large home gives them but want the security and safety of a residential building.”
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