Mandarin Oriental Residences Beverly Hills was the site of gala parties for Oscar winner Michelle Yeoh recently, including a pre-Academy Awards Vanity Fair event.
Yet out of the spotlight, units in the L.A. market’s newest hotel branded residence have been showing up on listing websites in the past couple of months, although developers for the building have not made an official price announcement.
Located at 9200 Wilshire Boulevard, Mandarin Oriental Residences’ prices start at $3.7 million for Residence 304E, a one-bedroom, two-bathroom unit with about 1,260 square feet. At the high end is the $11.2 million listing for Residence 502W, a three-bed, four-bath condo spanning more than 3,000 square feet.
In the middle of the price range is Residence 505W, a two-bed, three-bath condominium priced at $6.6 million. There’s also Residence 402E, a three-bedroom, four-bathroom unit with an asking price of $9.98 million.
Agents representing the listed residences include Amir Ensani and Penelope Stipanovich of Shvo Brokerage and Paul Sunshine of PH Sunshine & Co.
Developed by Michael Shvo, the 54-unit Mandarin Oriental Residences Beverly Hills follows the model of a developer and hotel brand partnering on a condo project. Shvo worked with Mandarin Oriental hotel group. Similar projects include The Pendry West Hollywood, which worked with Montage Hotels & Resorts, and Four Seasons Private Residences in the Beverly Grove section of Los Angeles. These projects all made headlines with pricey listings and sales, and promises of luxury services managed by the hotel brands on the residences’ logos.
Mandarin Oriental Residences Beverly Hills offers two penthouses, which previous media reports said would be priced at $40 million. A building representative told TRD that penthouse prices will be updated, but pricing has not been released. The building’s penthouses offer individual entrances, as well as private garages and swimming pools.
At the Four Seasons Private Residences, the initial ask for the penthouse, nicknamed One L.A., was $75 million, but it was recently reduced to $50 million. In July 2022, The Pendry Residences West Hollywood made a record for priciest condo sale in 2022, when the 6,300-square-foot penthouse sold for $21.5 million.
Another ultra-luxe condo building at 8899 Beverly in West Hollywood offered two penthouses, which if bought together had an asking price of $100 million. A new section of the project The Rosewood Houses, freestanding homes, will be unveiled later in March.
The Los Angeles market for ultra luxury condos is maturing, said Taaseen Qureshi, an independent real estate agent who specializes in luxury condos.
“In New York and Miami, luxury condo buildings tend to sell out in pre-sales, but that’s not the case in L.A.,“ Qureshi said. “The L.A. market is more challenging because the direct competition for ultra luxury condos are single-family homes with a pool and view. But do buyers really want the maintenance that comes with a house?”
The typical client for ultra luxe condos are people seeking full service amenities such as valet, security, room service and housekeeping, she said. She noticed that most of her clients also own luxury condos in other major cities. Qureshi sold luxury condos at The Pendry Residences West Hollywood from October 2021 to October 2022.
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