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The Real Deal Los Angeles

Nazarian family sells Century penthouse for $15.2M

Qualcomm co-founder Younes Nazarian bought unit in 2010 and transferred it to his children
By Hannah Miet | March 21, 2017 06:05PM

The Century condo and Sam Nazarian (via Douglas Elliman, sbe)

A family trust connected to Los Angeles hotelier Sam Nazarian has sold its 6,080-square-foot penthouse in Related’s posh 42-story Century building for $15.2 million, or $2,500 a square foot, The Real Deal has learned.

The identity of the buyer, whom sources said is an American family relocating from Santa Monica, was not immediately clear.

A trust tied to Qualcomm co-founder Younes Nazarian and his wife, Soraya Nazarian, bought the condo for $10 million in 2012. Their children — Sam, David, Sharon and Shulamit Nazarian — were added to the deed in 2016, records show.

The three-bedroom, five-bedroom condominium atop the Robert A.M. Stern-designed project at 1 W Century Drive has interiors by Joan Behnke, according to the listing.

The family oversaw the design of the unit, which features a built-in buffet area, said Michelle Oliver of Douglas Elliman, who represented the buyer. It also includes a great room that is massive by condominium standards — 1,850 square feet, according to the listing.

Drew Fenton of Hilton & Hyland was the listing agent.

The Nazarians’ pad has been on and off the market since 2014, when Coldwell Banker listed it for $19.5 million. It was relisted for just shy of $18 million in 2015 and subsequently removed from the market.

When Hilton & Hyland took over the listing in September 2016, they priced it for just under $17 million, then chopped the price to below $16 million earlier this year, Zillow shows.

Sky-high condo prices have become more commonplace in L.A. since Candy Spelling shelled out almost $35 million for her two-story condo in the Century in 2010, smashing records and fueling the rise of aspirational pricing. Just last week, Ariadne Getty, granddaughter of J. Paul Getty and an heir to his $5 billion oil empire, relisted her condo at Beverly Hills’ Montage for $24.5 million, or $4,320 per square foot.