A penthouse in Beverly Hills has a buyer poised to shatter the price record for condominium sales in California.
The two-story residence at the 28-story Aman Beverly Hills, which is under construction, is poised to sell for $200 million, the Wall Street Journal reported. An unidentified buyer reserved the condo by paying part of a deposit. Another penthouse in the building is on the market for the same price.
Cain and OKO Group are developing the Aman Beverly Hills at 9900 Wilshire Boulevard, which will consist of two condo towers alongside a 78-room Aman hotel.
The penthouses will have 16,800 square feet of interior space and over 14,000 square feet of outdoor space, including rooftop terraces and private swimming pools with sweeping views from the Pacific Ocean to downtown Los Angeles. Condo owners at the development will have access to a 100,000-square-foot private club as well as the Aman hotel’s spa, fitness center and restaurants.
Aman Beverly Hills is a critical piece of the One Beverly Hills project, rising on a 17.5-acre site near Rodeo Drive. So far, more than $1 billion worth of condos at the under-construction Aman residences have gone under contract or been reserved since sales began early last year. The $10 billion project is expected to be completed in phases starting in 2028, with the first tower slated to have 69 units starting at $20 million.
Another buyer agreed to pay $107 million for an unfinished full-floor unit at the Aman last month. Other Aman condos are under contract at $46 million and $39.8 million. The record for a closed condo sale in Los Angeles is $39.2 million, set by a transaction at the Century building in Century City last year.
The national price record for a condo was Ken Griffin’s $240 million purchase at 220 Central Park South in New York in 2019, which earlier this year became a poster child for Mayor Zorhan Mamdani’s pied-à-terre tax.
While condos have historically been viewed as more attainable investments, the number of condo sales in L.A. fell 1.3 percentage points in the second quarter compared to a year ago, according to Sotheby’s International Realty. The median condo price was $723,000, representing a drop of 2.3 percentage points year over year.
— Chris Malone Méndez
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