One of the most buzzed-about condo projects of the past decade is here.
Townscape Partners revealed some pricing and details for 8899 Beverly, a 40-unit, 10-story building in West Hollywood, with a $7.1 million minimum at this point and upscale options to come.
The project, designed by architecture firm Olson Kundig, was launched with a splashy party and panel discussion on April 7 at the building’s resort-style pool. On the panel were a number of leading local residential agents, including Rayni Williams, Jenny Ting and Brett Oppenheim. The party was hosted by the condo building’s listing agent, Douglas Elliman’s Fredrik Eklund, a former star of Bravo’s “Million Dollar Listing New York.”
Two listing prices were released April 14. The building’s two penthouses are being offered as a $100 million package, and a sale anywhere near that price tag would set an L.A. record. A representative for the project declined to specify how large the combination would be, though the developer hinted in 2020 to the Wall Street Journal that it could be the largest single-floor penthouse in the world.
Of listings released today, the $7.1 million unit––the lowest disclosed price so far––gives a buyer 2,400 square feet, penciling out to just under $3,000 a square foot. Another unit in the building is asking $17.5 million.
The building’s lobby will be outfitted with custom furniture and light fixtures designed by Olson Kundig, as well as white oak wood ceilings, wood wall paneling and Italian silver travertine exterior stone. They’ll also feature high level Vitrocsa glass walls that can be scaled back to blend the condos’ interior with the outside and the units’ exterior terraces.
The development will roll out in phases. The penthouses will go to market in June, while the Rosewood Houses, a collection of eight homes that will share the condo amenities, will go on sale later this year. Buyers of those homes will pay HOA fees.
The listings at 8899 Beverly will compete in a Los Angeles market where the highest price for a condo so far this year was $10.5 million in Santa Monica.
“These buyers have multiple homes around the world. They’re looking for a Los Angeles place that is safe, secure and highly amenitized,” said Tyler Siegel, a partner at Townscape. “It’s a great place to downsize from Holmby Hills and still have a foot in the city,” Siegel said of buyers making a move from one of the city’s most exclusive enclaves. International buyers are another target market.
Other Townscape projects include a Frank Gehry designed mixed use complex at 8150 Sunset in West Hollywood.
8899 Beverly also happens to be the tallest in its district of low-rise buildings, with views that stretch from the Hollywood Hills to Downtown Los Angeles. It will boast a sit-down Italian restaurant, rumored to be Stella, from L.A. restaurateur Janet Zuccarini and Robert Gentile, a popular Toronto chef. A special auto gallery will give tenants who happen to be car collectors a place to display their prize vehicles. An individual “auto stable” in the gallery costs $750,000.
Tom Kundig, principal and owner of Olson Kundig, said 8899 Beverly will provide an alternative in a region that has long been defined by low-rise luxury.
“This is vertical living,” Kundig said. “But it’s bringing it to a level that is beyond a box in the sky.”