LA’s Priciest Condo Sale This Year Totals $23.5 Million

Signs of life in Los Angeles’ luxury condo market materialized in a big way with a record deal at Beverly West.

The top-floor penthouse in the luxury high-rise next to the Los Angeles Country Club closed on Tuesday for $23.5 million, marking the city’s priciest condo deal this year. The unit was the last available penthouse at Beverly West and inches the high-rise closer to full sellout once unit 10N closes. It’s currently in contract for $5.5 million.

Compass’ Sally Forster Jones, along with Christie’s International Real Estate Southern California’s Tomer Fridman and Amir Ensani represented seller Emaar North America, a unit of Emaar Properties. The trio of brokers have sold more than $100 million at Beverly West in the past seven months, according to Christie’s International Real Estate Southern California.

MLS records show the mystery buyer was represented by Carolwood Estates.

The expansive space takes up the entire 22nd floor and touts a 360-degree view of the ocean, city and mountains.

Interior of 1200 Club View Drive (Christie’s International Real Estate Southern California)

It has four beds and seven baths across nearly 8,000 square feet designed by Plum Design’s Lisa Garriss. The property includes floor-to-ceiling glass walls, a bar and a chef’s kitchen. Beverly West resident amenities include a house car, valet and 24-hour security.

Aside from the unit setting a record in the city, it’s also the second-priciest condo trade in Los Angeles County. The top designation currently sits with the $24 million sale of TPG Angelo Gordon’s sale of a penthouse at 8899 Beverly Boulevard. The West Hollywood property sold after a two-day stint on the market. It’s original listing price was $25 million.

The Beverly West deal penciled out even as the industry continues to shake its head over the city’s Measure ULA property tax, which went into effect in April 2023. The tiered fee assesses a 4 percent tax on properties that sell for $5.15 million or more and 5.5 percent on those sold for $10.3 million and up. That works out to $1.3 million in ULA money for the Beverly West trade.

Across Los Angeles County, average third-quarter sale prices of condos were off 2.4 percent from a year ago to $1.3 million, according to a report done by Miller Samuel Real Estate Appraisers & Consultants on behalf of Douglas Elliman. The number of condo sales in the county totaled 506 in the third quarter, down about 1 percent from the year-ago period.