Two developers in California are looking to lure a buyer willing to do something no other buyer has ever done before in Los Angeles history – pay between $50 million and a $100 million for a condo.
A deal anywhere near those asking prices would shatter a record in the City of Angels, where no single condo unit has ever sold for more than $22.5 million, according to public records.
A rendering depicts the penthouse terrace and pool at the Four Seasons Private Residences Los Angeles which is on the market for $75M.
Martyn Lawrence Bullard and CRTKL
A behemoth duplex-apartment located at 9000 West 3rd Street in Beverly Hills comes with a price tag of $75 million.
One LA, as the penthouse is called, hit the market back in July. It spans the top two floors of the Four Seasons Private Residences Los Angeles, part of an ultra-luxe condo project by the Genton Development Company that includes 59 units across 12 stories.
Rendering depicting the finished penthouse atop the Four Seasons Residences Los Angeles.
Martyn Lawrence Bullard and CRTKL
It’s the first stand-alone Four Seasons residence in North America and it sits across the street from its namesake hotel. According to the building’s website, the crown-jewel residence delivers almost 13,000 sq ft of indoor living area and nearly 6,000 sq ft of outdoor space.
Rendering of the primary bedroom at the penthouse known as ONE LA.
Martyn Lawrence Bullard and CRTKL
The penthouse, which appears fully furnished in renderings used to market the unit, is actually being sold “white-box,” meaning a buyer would take possession of unit as an unfinished shell. That means no kitchen, no baths, no millwork, no fixtures. It’s so empty that Billy Rose, co-founder of The Agency RE and co-listing agent on the deal, can be seen with his team in a marketing video riding bikes through the vast raw space.
At the current asking price, the unfinished unit is over $5,700 a sq ft. Rose told CNBC finishing costs vary widely depending on a buyer’s…
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