Nazarian family sells Century penthouse for $15.2M

Qualcomm co-founder Younes Nazarian bought unit in 2010 and transferred it to his children

TRD LOS ANGELES /
Mar.March 21, 2017 06:05 PM

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.


Related Articles

arrow_forward_ios
Michael Rosenfeld and a rendering of Century Plaza (Credit: Presley Ann/Getty Images for THR)

Inside Michael Rosenfeld’s $1.8B odyssey at Century Plaza

Inside Michael Rosenfeld’s $1.8B odyssey at Century Plaza
Clockwise from top left: 13224 Old Oak Lane, 4425 Haskell Avenue (center), 656 Lachman Lane, 375 N. Saltair Avenue and 1200 Club View Drive

The Weeknd’s Beverly West condo tops LA County resi sales

The Weeknd’s Beverly West condo tops LA County resi sales
Pasadena KOAR International is betting on a luxury condo complex for active, LGBTQ seniors (Credit: iStock)

KOAR will spend $70M on condo complex for LGBTQ seniors in Palm Springs

KOAR will spend $70M on condo complex for LGBTQ seniors in Palm Springs
Greenland Holdings has already decided to sell one downtown Los Angeles Metropolis tower and convert another into apartments, as it struggles to sell two others.

Can influencers and college students save Greenland’s Metropolis?

Can influencers and college students save Greenland’s Metropolis?
Abel Tesfaye, AKA The Weeknd, will be rocking out at a Beverly West penthouse (Credit: Google Maps and Getty Images)

The Weeknd drops $21M on Beverly West penthouse

The Weeknd drops $21M on Beverly West penthouse
Woodridge Capital Partners’ CEO Michael Rosenfeld and Sales Director Mary Ann Osborn with a rendering of the project

A $2.5B litmus test for the Century City luxury market

A $2.5B litmus test for the Century City luxury market
4Site Real Estate’s Todd Wexman and the entryway at the Cha Cha Cha condo building

“A slap in the face”: LA developer criticized for condo project name

“A slap in the face”: LA developer criticized for condo project name
Los Angeles Luxury Condo Market Amenities (Credit: iStock)

Amenity insanity in LA luxe condo market

Amenity insanity in LA luxe condo market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...