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Residential
Los Angeles

Luxe condo under construction in Beverly Hills could ask $40M

Rosewood Residence home to include private pool, butler’s pantry

Nahla Capital's Genghis Hadi and GPI's Cliff Goldstein with rendering of Rosewood Residences Beverly Hills (Common Ground, GPI, Rosewood)
Nahla Capital's Genghis Hadi and GPI's Cliff Goldstein with rendering of Rosewood Residences Beverly Hills (Common Ground, GPI, Rosewood)

The 7,300-square-foot condo in Beverly Hills would come with its own private pool, butler’s pantry and private access to a potential five-star restaurant. The price: more than $40 million.

Nahla Capital, based in New York, is developing the luxe condominium at Rosewood Residences Beverly Hills at 9900 South Santa Monica Boulevard, the Los Angeles Times reported.

The $100 million boutique condo complex, co-developed by GPI Companies of Los Angeles, is under construction, with units set to go on sale next year.

The 17-unit building will be managed by Rosewood Hotels & Resorts, a Hong Kong hospitality company known for operating luxurious residential-style hotels. It’s set to open in 2024.

When completed, it will join an emerging collection of high-end Los Angeles condos poised to sell above the record $35 million set in 2010 by Candy Spelling, widow of producer Aaron Spelling, when she bought a penthouse in Century City.

At the new 8899 Beverly luxury building in West Hollywood, owners want $50 million for a penthouse – and $100 million for adjoining double units.

The Rosewood Residences, designed by Danish architect Thomas Juul-Hansen, is under construction at a site last occupied by the famous Friars Club, launched by the likes of comedian Milton Berle.

The condominium tower will rise next to the Peninsula Beverly Hills hotel and across from the Beverly Hilton and Waldorf Astoria Beverly Hills hotels, in the Golden Triangle district. The development will include 12,650 square feet of commercial space and a three-level underground parking garage.

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Developers hope to command $4,000 per square foot for units, which would range from two to five bedrooms, and average 4,100 square feet.

Each residence will have a private elevator, large entry foyer, outdoor living areas and a mudroom/laundry room reached by a discrete service elevator, and double-island kitchens.

Six of the units will have private terrace pools, while some will have complete outdoor kitchens, wet bars and fire pits.

There will also be a shared rooftop pool, fitness center and outdoor relaxation area with spaces for dining. Developers hope to draw a five-star restaurant, open to the public, which can serve residents in their homes.

The largest unit, at 7,300 square feet, will include five bedrooms, two interior fireplaces, a butler’s pantry and an expansive great room with a full bar. It will come with its own private pool and a full kitchen on a 2,500-square-foot terrace.

The developers hope it will sell for about $40 million, or more than $5,000 per square foot.

– Dana Bartholomew

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Tags
Beverly HillsLos AngelesLuxury Real Estate