One LA penthouse slashes price again

Condo at Four Seasons Private Residences has seen a 50% reduction since first listing

The Agency's Billy Rose with One LA
The Agency's Billy Rose with One LA (The Agency, Four Seasons, Getty)

One LA is hoping two price cuts will do the trick to move the luxe, record-setting condo.

The unit was Los Angeles’ priciest condo in 2022 when it hit the market with an ask of $75 million, but now a buyer can scoop it up for half that. 

The 13,000-square-foot penthouse, located at Four Seasons Private Residences Los Angeles, is now listed at $37 million. In March, its price was reduced to $50 million. It has been on the market for nearly a year.

Billy Rose, co-founder of The Agency, who has the listing, said the penthouse is now at the right price. 

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“$75 million was aspirational, but One LA is a singular, one-of-a-kind property, and it is hard to know what the market will bear,” he said.

 “When I came on to the project, Developer Genton Property Group said ‘Let’s get this thing sold.’ And they were cool with bringing the price down to $50 million. But that was still a fairly unprecedented price. Now we’re at the price where it should be,” Rose added.

The broker conceded that ultra-luxury condos compete with trophy mansions for attention from the wealthiest home buyers. Ultra-luxe condos specifically appeal to those who prefer not to worry about the upkeep of a megamansion, he said. These condos also offer a high level of privacy and security.

About 77 percent of the condo tower’s 59 residences have been sold, and two more are in escrow, Rose said. Prices have ranged from $2.8 million for a 1,400-square-foot unit to $6.9 million for a 2,500-square-foot unit.

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The Agency's Billy Rose. along with "One L.A." (Getty, The Agency)
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