West Hollywood Condo Sells for $36 Million

A penthouse unit at West Hollywood’s Sierra Towers set the mark for priciest condo sale of the year — and then some.

The $36 million deal that closed on Tuesday also came out to the highest price per square foot for a condo in the Los Angeles County market in history.

The nearly 7,400-square-foot three bedroom condo at 9255 Doheny Road hit the market in early April, asking $39.5 million. The final sale price works out to a record $4,888 per square foot. A 2022 condo sale at Pendry Residences West Hollywood at $4,848 per square foot previously held the top spot.

If the sale had been closer to the asking price, it could have also set an all-time condo sale price record in Los Angeles — a position currently held by the $39.2 million sale last year of a residence at The Century tower in Century City. That’s about $3,400 per square foot.

Carolwood Estates’ Linda May represented the sellers, Chicago-based philanthropists Dan Fischel and Sylvia Neil. They acquired the partially completed condo in 2021 for $17.5 million and since spent millions on a full-scale buildout carried out over five years.

Sierra Towers is known to serve A-listers. Past residents include Sandra Bullock, Courteney Cox and Katy Perry. This particular penthouse unit features a private elevator opening to the foyer, a roughly 5,500-square-foot wraparound terrace, gourmet kitchen, wet bar, media lounge, gym and gallery.

The Agency’s Blair Chang represented the buyer. Chang did not immediately return The Real Deal’s request for comment.

Despite a number of high-dollar deals this year — including Penthouse West at 8899 Beverly Boulevard which sold for $23 million in May — the overall local condo market is down. Prices throughout Southern California fell 6 percent year-over-year in February, the most recent data available for the broader region. That’s the steepest drop in 14 years.

Plus, deal flow is down. There were nearly 3,000 condo trades in Southern California in February, the third slowest monthly sales volume for that time of year since 2005.