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5 Penthouses With Oasis-Like Terraces Starting at $10 Million

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5 Penthouses With Oasis-Like Terraces Starting at $10 Million

When it comes to living in tall city buildings that don’t allow for spacious yards, finding a quiet place to relax sometimes requires a little creativity.

However, that isn’t the case with these penthouses. Each has its own private rooftop or large terrace that promises to create an oasis-like setting, allowing its owners to escape to a serene spot, whether it be a garden or a private pool.

Take a look at five sky-high residences with idyllic outdoor offerings, starting at $10 million.

 

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Mansion Global Luxury is in the details

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‘Luxury Is in the Details,’ Says Residential and Hospitality Exec

Tina Necrason of Montage International on the appetite for branded-residences, the never-ending boom in welless in the home and more.

A relatively young player in luxury hospitality, Montage International launched in 2003 with one oceanfront property in Laguna Beach, California. Today, the brand operates seven hotels across the Americas, all of them with residences as part of the mix.

In 2017, the company launched a less traditional sibling brand, Pendry, to appeal to younger buyers with growing wealth. With six US properties, Pendry’s also made branded residences a significant part of its growth.

Montage and Pendry “have a $5 billion branded-residence portfolio and it’s growing,” Tina Necrason, executive vice president of residential for Montage International, told Mansion Global. “What drives the general real estate market also drives our business. There’s an acceleration both in pricing and an acceleration for strategy to leverage what’s going on.”

The branded-residence beisiness isn’t new for the company, however. “From our flagship Montage property in Laguna Beach, all of our hotels have had a residential component,” Ms. Necrason said. “It was never an add-on. It’s in our DNA.”

 

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LA Times: West Hollywood penthouse sells for $21.5 million

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West Hollywood penthouse sells for $21.5 million, the highest price for a condo this year

 

Vertical living has never been high on the shopping list for Southern California’s wealthy set. But a new wave of luxury developments is drawing the rich out of single-family homes and into the sky.

The latest example just closed in West Hollywood, where a penthouse condo has traded hands for $21.5 million. That’s the priciest condo sale in L.A. County so far this year, and the fourth most expensive the county has ever seen.

It’s easy to see the appeal, even for staunch supporters of single-family living. The unit covers 6,301 square feet — bigger than the vast majority of stand-alone homes — and for outdoor space, there’s a 2,782-square-foot wraparound terrace overlooking L.A.

The penthouse spans the entire 10th floor of the Pendry Residences West Hollywood, a hotel-condo hybrid opened by Montage Hotels & Resorts. It was sold as a design-ready unit, meaning the buyer will be able to choose the layout and design.

Built on the former site of the House of Blues, the $500-million complex has already set multiple records, including a 2,681-square-foot unit that sold last year for $13 million. That shakes out to $4,848 per square foot, which is by far the highest price per square foot in the history of L.A. condo sales. (The latest Pendry sale works out to $3,412 a square foot.)

Pendry’s collection includes 40 private residences. So far, about 50% have been sold.

The blockbuster sale signifies a renewed interest in luxury high-rise living, which took a major hit during the pandemic when shared amenities such as pools and elevators suddenly became a safety hazard.

So far this year, there have been 27 condo sales north of $5 million in L.A. County, according to the Multiple Listing Service. The same stretch last year saw just 14 sales above $5 million. In the first half of 2020, there were only five.

That interest has carried across all sections of the market, not just the luxury side. In the second quarter of 2022, the median condo sale price was $640,000, up $20,000 compared with the same stretch last year, according to data from Sotheby’s International Realty.

Condos are also selling quicker, lasting an average of 27 days on the market in the second quarter of this year compared with an average of 34 days during the same stretch last year.

At $21.5 million, it’s the highest-priced condo sale since Matthew Perry unloaded his 9,300-square-foot “mansion in the sky” for $21.6 million in Century City’s Century Tower last summer. The all-time record belongs to socialite Candy Spelling, who dropped $35 million on a 15,555-square-foot unit in the same building complete with two stories and a private pool.

Taaseen Qureshi of PowerPlay represented Pendry in the $21.5-million sale. Molly Williams of the Hobin Company represented the buyer.

 

 

Pendry Residences West Hollywood Sets Record With $21.5 Million Penthouse Sale

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Pendry Residences West Hollywood by Montage Hotels & Resorts Celebrates One-Year Anniversary with record setting $21.5 Million Penthouse.

 

This is the highest price condominium sale in LA for 2022 following two record-breaking sales in 2021.

 

Pendry Residences West Hollywood recently celebrated its one-year anniversary with over $100 Million in sales, including the sale of a one-of-a-kind Penthouse, setting the record for the highest priced LA condo sale in 2022, and the third highest in the history of the LA condo market. The property already broke several records in 2021, setting leading price per square foot records on two sales.

$21.5 Million Penthouse Sale: Spanning the entire 10th floor, this Penthouse is a design-ready home boasting 6,301 square feet of interior space, an expansive 2,782-square-foot, wrap-around private outdoor terrace, and panoramic views of the Hollywood Hills, downtown LA, and the cityscape.

“Pendry Residences West Hollywood is the culmination of a collaborative vision to bring together a unique luxury residential community and an unmatched collection of amenities and personalized services to create fully-serviced living,” says Tina Necrason, Executive Vice President, Residential at Montage International. “Since opening last Summer, Pendry Residences West Hollywood has quickly become one of the most desirable addresses in Los Angeles. The sale of the design ready Penthouse within the first year of opening is a true testament to the appeal of this luxury offering, legendary Montage service, and location on West Hollywood’s iconic Sunset Boulevard.”

Featuring contemporary design by EYRC Architects and Martin Brudnizki, along Sunset Boulevard and Olive Drive, Pendry Residences West Hollywood is a collection of only 40 private Residences with expansive indoor-outdoor areas that live like single family homes showcasing breathtaking vistas of the city. Owners enjoy exclusive access to hotel and resident-only amenities including a rooftop pool, wine-tasting room, landscaped gardens, lounge, fitness facility and private entry and elevators, along with personalized service by Montage Hotels & Resorts. In addition, owners also have privileged access to all hotel amenities, The Sunrose music venue, Spa Pendry, and several restaurants by legendary chef Wolfgang Puck including membership to The Britely social club. Situated in a secluded enclave adjacent to the hotel, the Residences feature generous floorplans—ranging from 2,900 to 6,000 square feet—flowing seamlessly to large private verandas. Select Residences include incomparable landscaped terraces of up to 3,400 square feet with private pools, spas, and outdoor kitchens. Available Residences range from $5 Million to $16 Million.

Developed by AECOM Capital and Combined Properties, Pendry West Hollywood provides both guests and residential owners immediate access to West Hollywood’s premier high-end dining, shopping and nightlife hotspots.

Forbes

By Press

Walkability As The Ultimate Amenity For Luxury Homebuyers

 

In American suburbs spawned in the post-war era, sidewalks largely existed for show. Everyone drove everywhere; few would have been caught dead walking. In such a municipality, it was implausible you’d make a new acquaintance on the street, unless you exchanged names, numbers and insurers after being involved in a fender bender.

Like artificial turf, Nehru jackets and eight-track players, that sensibility has been consigned to the dimming memories of aging Baby Boomers and their elders. For years if not decades now, walkability has been among prized amenities touted by developers of upscale communities. Placing schools, shopping, entertainment, work and recreation within walking distance not only enhances residents’ health, fitness and overall quality of life, but can actually boost the value of a property.

A recent Redfin study linked the Walk Score of a property to a direct increase in the price that house was able to fetch. Increasing a Walk Score from 19 to 20 brought average increases of about $180. But an increase in Walk Score from 79 to 80 was associated with a surge of more than $7,000 in property value.

The pandemic only served to hike the popularity of walkable communities, given their tendency to place residents in fresh air, and out of droplet-filled public buses and trains. What follows are sketches of a few newer developments whose creators clearly placed walkability among qualities they fervently wished future residents to savor.

 

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Vogue

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Out in Los Angeles, Chopard and Shari Glazer Hosted a Soirée Celebrating Women and Web3

As the glitterati touched down in Hollywood for the Oscars, Vogue100 member Shari Glazer kicked off the weekend’s highly anticipated spectacles with Chopard.

Upon arrival to Chopard’s private Pendry West Hollywood residence turned haute jewelry boutique, guests were greeted by a wall of photographs showcasing a history of celebrities dressed in gorgeous diamonds for the Oscars’ red carpet. Of course, glasses of Champagne were of plenty along with a decadent spread of hors-d’œuvre for attendees to enjoy with a sprawling view of Sunset Boulevard.

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Haute Residences Montage International Report

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Montage International Reports A Record Year In 2021 With $850M Sold And New Developments On The Horizon

Montage Residences, founded by Alan J. Fuerstman in 2002, is an ultra-luxury residential community under the Montage Hotels & Resorts umbrella intended to help affluent homeowners find desirable properties. A newer luxury brand within Montage international, Pendry Residences shares a similar goal, revealing residential offerings at the Pendry Hotel and Resorts to buyers. Pendry Residences are currently located in West Hollywood, California and Park City, Utah, with three more developments underway.

Their image revolves around providing residents with an authentic and customizable experience. On their website Montage boasts, “each Montage Residence has been designed and artfully constructed to create a sophisticated yet relaxed sanctuary catering to each Resident’s personal desires and distinctive tastes.”

After a sales boom resulting in a record year of $850 million in branded residential sales, Montage Residences and Pendry Residences are setting their sights on South Florida to target the area’s growing demand. The brand opened its South Florida Flagship Residential Sales Gallery, located on Las Olas Boulevard, in October of 2021 to help facilitate both domestic and international real estate sales. Florida isn’t the only area Montage is honing in on; they have announced many upcoming and newly opened projects across the country and beyond.

“We recognized remarkable growth of our branded residential business within all key metrics. Included within these 190 real estate transactions, we also recognized significant premiums with our average sales price in excess of $4.5 million at over $1,500 per square foot. Records were shattered around metrics not only in a pre-sale and developer environment but staggering appreciation within the resale sector within our respective markets,” said Tina Necrason, executive vice president of residential, Montage International. “We are continuing to see demand trends for branded residences as buyers are seeking a fully-serviced lifestyle, amenities, privacy, and security within some of the most sought-after destinations for their families to enjoy for generations”.

Montage and Pendry Residence’s sizeable growth has opened up more development opportunities, so they have a lot of unique properties in the works to continue to add to their portfolio. One of Montage’s most prominent projects is their Bahamas property, The Residences at Montage Cay. This development is set to debut in 2024 and will be the brand’s first private island and Caribbean development.

Other properties currently under development include the Pendry Residences of Tampa, located in the bustling downtown Riverwalk area, and The Pendry Residence in Natirar, located just an hour outside of New York City and is nearly sold out of Phase I. The Tampa location has received a considerable amount of attention as well. Despite being the brand’s newest edition, they amassed over $25 million in presales within the first 30 days of announcing the development.

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Forbes

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Pendry Hotels & Resorts Is On A Tear. Can Anything Stop This Upstart “New Luxury” Brand?

 

Unless you’re flush with someone else’s money, rapid scaling in almost any business usually means that you’re onto something.

In the luxury hotel space, however, scaling a brand as a practical, physical matter isn’t as easy as just running some cheeky Instagram campaign and poaching a new tranche of subscribers. In addition to deep capital pockets (think hundreds of millions of dollars), developing a hotel requires big land buys, zoning, permits, programming, design, staffing, training, and of course the actual building of buildings—which in the case of a high-end, architecturally-significant resort or hotel can take years to complete even if the local community is behind you and supply bottlenecks don’t choke you.

Tastes and market shifts—as well as pandemics—can also catch up with you in the meantime. What was in vogue three years ago can just as quickly fall out of favor. And in the case of COVID-19, locations that once seemed cherry can unexpectedly whither and turtle what once seemed like a surefire real estate investment upside down.

All of which means that a lucid plan and a definable brand when it comes to a luxury hotel’s essential identity are vital to staying on the throttle when the road ahead opens up.

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Lux Expose

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Pendry Residences West Hollywood by Montage Resorts & Hotels – West Hollywood, California

Located on Sunset Blvd and Olive Street, Pendry Residences West Hollywood is within close proximity to the lively West Hollywood. The geographical and cultural heart of LA, West Hollywood has the best of everything the city has to offer.

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Lux Expose

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Exclusive Club Membership Is the Next Big Thing in Amenity-Rich Buildings

High-end, over-amenitized apartments are considered a modern cliche nowadays. The days of outdoor gardens and state-of-the-art gyms are gone, as real estate developers now include unique amenities to cater to buyers and pander to ever-changing lifestyle trends. Since homeowners demand sophisticated services that allow for ultra-luxurious lifestyles, some developments offer their residents private club membership to marinas, and golf courses that are right in their backyards.

The ultra-luxury private social club, The Britely is located within the Pendry West Hollywood Hotel. The Los Angeles-born social club revitalizes the private club mold with modern positivity where bright ideas, bright design, and bright palates meet to enjoy the full spectrum of a modern social club. The exclusive social club currently has thousands on the waitlist, but owners of the residences at Pendry Residences West Hollywood by Montage Resort and Hotels get immediate access to the coveted club. With two Wolfgang Puck Restaurants and three bars & lounges, concierge services, and access to the music & performance venue, bowling lanes, personal trainers, and private garden – there is always something to do.

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Montage Residences Real Estate
8430 W Sunset Boulevard
West Hollywood, CA 90069
+1 310 849 0202