Hotel Chains Try to Break L.A. Real Estate Records With $50M-and-Up Condos

Who hasn’t dreamed of living in a hotel, à la the famous children’s book heroine Eloise? In Los Angeles, this is increasingly becoming a possibility with the rise of luxury branded residences, which combine condo living with some of the biggest brands (and the services they offer) in the hospitality industry. Branded residences such as the Mandarin Oriental Residences, Rosewood Residences Beverly Hills, Four Seasons Private Residences, Aman Beverly Hills and the Pendry Residences West Hollywood on the Sunset Strip are rising in West Hollywood and Beverly Hills at a surprising clip. With properties ranging from $3.6 million and up at the Mandarin Oriental to the $75 million listing for the penthouse atop the Four Seasons residences, the biggest names in real estate are betting on the future of multi-unit living in Los Angeles. In July, real estate agent Taaseen Qureshi of PowerPlay sold a $21.5 million unfinished condo taking up the entire 10th floor of the Pendry in West Hollywood, making it the highest-priced condo sale in 2022. Earlier this year, Jason Oppenheim and Douglas Elliman’s Fredrik Eklund sold two combined units at 8899 Beverly for $17.5 million. While 8899 is not technically a branded residence, it follows along…
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