West Hollywood Condo Could Set Los Angeles Record

A renovated penthouse atop one of Los Angeles’ most storied condominium towers is hitting the market at a potentially record-breaking price.

The roughly 7,400-square-foot unit at the Sierra Towers building in West Hollywood is asking $39.5 million, a price that would set a new record for L.A. condos if achieved, the Wall Street Journal reported. The sellers, Chicago-based philanthropists Dan Fischel and Sylvia Neil, acquired the unfinished property in 2021 for $17.5 million and spent millions on a full-scale buildout.

The condo was first assembled by Twinkies heir Evan Metropoulos, who paid close to $30 million for two units and listed the combined penthouse in 2018 for $58 million before slashing it to $38 million. The unfinished state and pricing missteps dulled demand, creating an opening for Fischel and Neil to swoop in with a winning pre-auction bid of $17.5 million.

Fischel and Neil spent nearly five years completing the residence. The three-bedroom property features expansive entertaining spaces, a statement fireplace and amenities like a gym and media room. The listing comes as L.A.’s luxury condo sector continues to lag behind the single-family market, standing in contrast with New York and Miami which have had condos sell for record amounts, according to the Journal.

The current price record for a condo in Los Angeles is $39.2 million for a residence at The Century tower in Century City. If the Sierra Towers unit sells for its asking price or higher, it would set a new bar in the L.A. area.

Most of the Sierra Towers structures consist of smaller apartments. Units regularly trade hands, often selling immediately, and the building has a waitlist of people who want to move in, listing agent Linda May of Carolwood Estates told the Journal. The mid-1960s building has counted Hollywood stars like Sidney Poitier, Joan Collins, Sandra Bullock, Courteney Cox and Katy Perry among its residents.— Chris Malone Méndez