A condo in the ultra luxe Pendry Residences West Hollywood by Montage Hotels & Resorts sold for $14 million on March 17, representing the second priciest condo sale in Los Angeles County for 2023
Called Residence 902, the unit is a 3,500-square-foot condo that was listed for $14.5 million, according to the Zillow listing site. The $4,006-per-square-foot closing price was a 3.5 percent drop from the ask.
More than 50 percent of condos at Pendry Residences West Hollywood have been purchased, said Mike Leipart, managing partner of The Agency New Development, which handles sales of resorts and urban condominiums for The Agency boutique firm. The ultra-luxe condo building was developed by AECOM Capital and Combined Properties.
The highest was a $17.5 million condo sale at 8899 Beverly, also located in the West Hollywood area. However, Pendry Residences West Hollywood holds the record for priciest condo sold last year when a penthouse went for $22 million. Residence 902 was the last Terrace Estate condominium available at Pendry Residences West Hollywood, Leipart said. One of Residence 902’s amenities was a private pool.
Leipart conceded that ultra luxe condos have competition from single-family homes with similar asking prices. “We are still an adolescent condo market,” he said of the L.A. region. “But as more people become bi-coastal and international, the market will mature. There’s less upkeep and more safety with the ‘lock and leave’ atmosphere of condos.”
The Pendry Residences West Hollywood’s 902 was listed by Leonel Medeiros and Bridget Reeves of The Agency New Development. The buyer was represented by A. Demitrous Walker of The Hills Premier Realty. The buyer was not identified.
Read more
Residential
Los Angeles
AECOM's Pendry in WeHo scores year's priciest condo sale
Commercial
Los Angeles
AECOM JV lands $500M loan on boutique hotel-condo
Residential
Los Angeles
Mandarin Oriental Residences Beverly Hills puts prices on condos