Home News Beverly Hills condos chase record prices with private pools, butlers and five-star dining

Beverly Hills condos chase record prices with private pools, butlers and five-star dining

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LOS ANGELES — A $100 million boutique condominium complex in Beverly Hills’ vaunted Golden Triangle neighborhood offers the ultimate in Southern California luxury vertical living, with potential five-star restaurants, private pools and pampering to entice the elite downsizer. Escalating rivalry. vast real estate.

The sleek 17-unit building, which sells for over $40 million in single-family homes (a price yet to be seen in the condominium market in the area), is owned by Rose, a Hong Kong hospitality company known for operating luxury residential-style hotels. Managed by Wood Hotels & Resorts. , the developer said on Tuesday.

Rosewood was founded in Dallas and sold to Hong Kong-based New World Hospitality (now Rosewood Hotels & Resorts) in 2011.

The announcement of Rosewood Residences Beverly Hills marks a new peak in luxury condominiums in Los Angeles County and the $35 million price tag set when producer Aaron Spelling’s widow, Candy Spelling, purchased the penthouse in 2010. It took place in the midst of potentially breaking record prices. Century City. In his new 8899 Beverly Luxury Building in West Hollywood, the owner is demanding her $50 million for the penthouse.

Rosewood Residences is under construction at 9900 S. Santa Monica Blvd. Last used by the Friar’s Club, it is a legendary private club founded in 1947 by comedian Milton Burle and some of his post-war show business luminaries, including Ronald Reagan. The monks’ building was demolished in his 2011.

The site is located next to the Peninsula Beverly Hills Hotel and across Santa Monica from the Beverly Hilton Hotel and the Waldorf Astoria Beverly Hills Hotel. Next to Waldorf and Hilton is planned for his $2 billion garden complex, One Beverly Hills, with more than 300 condominiums and Aman boutique hotels and residences. Hundreds of luxury condominiums were recently completed in nearby Century City.

Scheduled to open in 2024, Rosewood Residences will be “at the heart of this new fast-growing corridor that will be the future of residential real estate” around Beverly Hills, said Narra Capital developer Genghis Hadi. “This site is irreplaceable.”

The developer wants to demand $4,000 per square foot of the unit.

The Pendry Residences West Hollywood penthouse sold for $21.5 million ($3,412 per foot) last month, making it the most expensive condo ever sold. His two other units in Pendry sold for over $4,000 a foot last year.

The market for such high-priced homes is so rare that it’s difficult to analyze statistically, said economist Richard Greene, director of the USC Rusk Real Estate Center.

“It’s like clocks and art,” Green said. “They are obviously valuable to a few people competing with each other, but beyond that, it’s hard to explain why they’re valuable.”

Hardy said Rosewood Residences will be packed with features to set them apart in the upscale market, starting with their unit size. The average home he has is 4,100 square feet, easily larger than a typical home in the Los Angeles area, but probably smaller than a home a buyer might leave.

“We are focused on homeowners in Beverly Hills and Los Angeles. They are moving out of their big homes and need many of the amenities that big homes offer, but want the security and safety of their homes. “The people who do doormen, valet parking, landscaping, pool maintenance, and other tasks,” he said.

The kitchen has a double island, he said, a distinguishing feature of homes in Beverly Hills and Bel Air. “One for practical cooking and one for entertainment.”

Each residence also has private elevator access, a large entrance foyer, an outdoor living area, and a mudroom/laundry room accessed by a separate service elevator. Six units have private pools on terraces, some with fully equipped outdoor kitchens, wet bars and fire pits.

Renderings show a rooftop pool for homeowners at Rosewood Residences Beverly Hills. 6 of the 17 units also have private pools.(Provided by Rosewood Hotel Group / TNS)

There will also be a shared rooftop pool, fitness center, outdoor relaxation area and dining space.

At 7,300 square feet, our largest unit includes a spacious game room with two internal fireplaces, a butler’s pantry and a fully stocked bar. Outdoors, you’ll find a private pool with full kitchen on a 2,500-square-foot terrace.

The developer hopes to sell for around $40 million, or $5,000 or more per square foot of interior space.

The building and interior were designed by Thomas Jules Hansen, a Danish architect known for designing some of New York’s most expensive apartments.

The building will include an intimate restaurant open to the public and will serve residents in their own homes or private rooftop lounges upon request, Hadi said. He hopes the restaurant will be worthy of the industry’s top ranking for fine dining.

This will be the first stand-alone condominium development in California to be operated by Rosewood. Rosewood also has independent housing projects underway in Florida and Phuket, Thailand.

The closest Rosewood chain hotel is Rosewood Miramar Beach near Santa Barbara. His regular daily rates start at $2,000 for him, but guests have been known to stay for weeks at a time.

“Guests often ask, ‘Would you like to build a home?’ I would love to live in one of your properties,” said Radha Arora, president of Rosewood Hotels & Resorts. I’m here.

In Beverly Hills, Rosewood brings in experienced staff to serve you. That includes a team of butlers who “make sure all the needs are met” for homeowners.

Tasks might include hiring a private chef for the party or arranging for the resident’s private jet.

New York-based Nahla Capital is developing the property with GPI Cos. in Los Angeles. The unit will go on sale next year through Compass Development Marketing Group.

Roger Vincent, Los Angeles Times (TNS)

A rendering shows the front entrance of Rosewood Residences Beverly Hills in Charleville...
A rendering showing the front entrance of Rosewood Residences Beverly Hills on Charleville Boulevard. (Provided by Rosewood Hotel Group / TNS)

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