Los Angeles Condo’s $13M Sale Sets Local Record | The Hollywood Reporter
At the beginning of the pandemic, the appeal of residential towers plummeted as people sought extra personal space. Cut to summer 2021, and condo sales are on the rise in L.A., led by the recent sale of a two-bedroom, 2,681-square-foot unit — with an outdoor terrace that’s bigger than the condo’s interior — at the new Pendry Residences West Hollywood for $13 million. At $4,848 a square foot, that’s a new record for condos in the Southland.
The Pendry Residences are far from a typical tower. Each of the 40 units has its own dedicated elevator access, and many of the two- and three-bedroom condos have mondo-sized outdoor space (up to 3,460 square feet) and even their own swimming pools. Says Steven Ehrlich of Ehrlich Yanai Rhee Chainey Architects of the project’s prodigious use of terraces: “It’s like floating in the air with your own roof deck, looking out at the city — and you can look to downtown and all the way across to Palos Verdes. People are really attracted to the openness of the design.”
Other amenities include wine storage; a gym; meeting room; community pool; room service from the adjacent Pendry Hotel’s two Wolfgang Puck restaurants, Merois and Ospero; and a one-year membership to The Britely social club, located inside the hotel. “With less than a minute walk you can be at a couple of great Wolfgang Puck restaurants,” says Ehrlich. “You can wake up in the morning and go to Ospero and have a great almond croissant and a fabulous cup of coffee or later go to dinner at Merois.”
Units start around $3 million and go up to $30 million for the nearly 10,000-square-foot penthouse. The project is gradually releasing the condos for sale, and over 50 percent of the units in the first release have already sold.
The layouts are open floor plan in the main living areas. “The kitchens are very much the heart and center of the whole living experience. They aren’t pushed aside. People can sit at the island and it’s very informal and casual and congenial,” says Ehrlich.
“We’re providing a lifestyle,” says Tina Necrason, executive vp residential for Montage International. “We look after every aspect from personalized service to preventative maintenance for the homes to make sure their assets are really well-preserved. We take care of every detail in the interior and exterior of the homes.”