As you probably know, it’s a very hot real estate market and it is especially rampant for sellers. Right now sellers are getting top dollar for their properties and per the National Association of Realtors, they don’t expect a slow down until 2020. In fact, they specifically named Los Angeles as one of the cities where the market is especially strong and expect prices to hold through 2019.
Overall, real estate prices are forecasted to rise about 5% in the in-demand markets like LA & San Francisco. Buyer’s don’t wait and sellers this is the time! No one has a crystal ball as to what will happen so if you’re on the fence, do it now. #ContactTheLab
Last month was a big deal for The Property Lab and owner Yvonne Arias as we were the first to sell one of the 15th floor penthouse at W Residences Hollywood. Making history, this sale was a record for the building at just under $1300 per square foot and definitely one of the biggest sales in the area.
The condo sold was penthouse 15E at $2,950,000. There are only four of these “Above the Penthouses” remaining and prices start at $3.5M. #WorkWithTheBest
Lately, we are in awe of Century City with its shiny skyscrapers, uber clean streets, and its new, fabulous open air mall. To add to its desirability, The Century Plaza Fairmont Hotel is revamping itself from the ground up with new hotel rooms and 63 condominium residences. Its also adding two, 44-story towers behind it.
This project will surely be spectacular and we can bet on this being one of the most popular new residential projects in Los Angeles. The hotel building is scheduled to open in early 2019 and the two towers in late 2020. Prices start in the low $2,000,000 range and there are 1-4 bedrooms available with some being 2-story condominiums. We can’t wait to check this out. #ContactTheLab.
As most of our clients know, The Property Lab owner/broker Yvonne Arias has been doing much business at The Ritz-Carlton LA Live since it was nearly launched back in 2010. Right now, she has never seen the inventory so low for available leases and she needs inventory.
Are you looking to invest? Most recently we had some larger 1 bedrooms on the 39th and 40th floors go for $5950 with multiple offers. These are the G units and if you have interest to purchase one, please inquire with Yvonne. They start at $1.3M. Yvonne has several prospects that would like to lease 1 bedrooms but no inventory! There is also demand for 2 & 3 bedrooms so the options are open. #ContactTheLab
We all know that property in the Pacific Palisades commands big dollars, but now at least you have some new condo options vs. some of the older condo projects or traditional single family homes that Pacific Palisades currently offers.
If you’re looking to downsize from a big house, want another residence with ocean views or just want a new place altogether, this new project coming in mid 2018 is a great option for the beach area that’s still close to all the liveliness Los Angeles has to offer.
Located on a bluff on the corner of Sunset Blvd and Pacific Coast Highway, this project is called One Coast by Etco Homes (known for nice, luxury developments) and will consist of 53 townhomes and condos starting in the $3M’s. To the south you have Santa Monica and to the north you have Malibu so this location is stellar.
As far as size, they’ll be 3-5 bedrooms ranging from 2800-5000 square feet and Etco says they will all have ocean views. All have private elevators to each residence and some will have private driveways and garages. Sounds like it could be a pretty nice project. Definitely not easy on the wallet, but with the current hot sales market and high demand, these will definitely have their high-end buyers. Want to know more? #ContactTheLab.
For our investor clients, there’s a rare opportunity at the elite W Residences Hollywood for a condo under $700,000. This is a 1 bedroom priced at only $675,000 with an 18 month lease in progress at $4250 per month. Great income and to add to this, the seller is paying 9 months of HOA dues for the new owner.
Located in the epicenter of all things entertainment, neighbors include the famous Pantages Theatre, Capitol Records and Cinerama Dome to name a few. Besides that, tons of shops and restaurants nearby including our favorite Cleo at The Redbury Hotel. Additionally, for the Equinox enthusiast, there’s a new one a block away. It’s brand new and a fab way to work out from what we hear.
More highlights of this condo include brand new wide plank hardwood flooring, two sliding glass entries to the terrace space, upscale Poliform cabinetry & a large laundry room. We don’t know about you, but proper laundry room spaces make us happy & they’ll make your tenants happy too. Besides all these highlights, the amenities are the major star of this building. From the security, concierge and screening room to the 1/2 acre resident only rooftop park, these only scratch the surface of living at this prime Hollywood residence. Another reason why this building continues to be in such high demand. Again, asking price is only $675,000 and it’s ready to move. #ContactTheLab.
Boy does time fly! We had a great 2017 and still remained strong as ever at The Residences at Ritz-Carlton LA Live & The Residences at W Hollywood as the leading broker, but we also had some other great real estate transactions throughout Los Angeles and Orange Counties.
One particular highlight that stood out is our sale of 1410 Miller Drive in the Hollywood Hills. It’s in the 90069 zip code, the hottest and priciest zip in the hills, that sold for $3,000,000. This deal stands out to The Property Lab owner/broker Yvonne Arias because the client and his family are not only such wonderful people, but the seller was also great to work with. This deal definitely had its challenges, but in the end, we got it done and our client got this amazing new home with views that literally make your jaw drop.
As for 2018, we’re planning to make it just as successful, exciting and also planning to cherish every moment. In today’s fast-paced world, we wish you a slow and wonderful new year 😉
As you likely know, The Property Lab (TPL) owner and broker Yvonne Arias Neustadter has a pretty extensive sales & leasing history at The Ritz-Carlton LA Live. With hundreds of transactions to date, she has recently just broken a sales record at Ritz-Carlton LA Live with condo #34G. This was a brand new, never lived in 1 bedroom that sold at $1134 per square foot at $1,350,000; the highest price per square foot ever achieved for a 1 bedroom in this building.
At a time when competition is steep, TPL is very proud to share this news! If you’re wondering how Ritz-Carlton LA Live can still offer a brand new condominium, let us explain. This particular owner purchased this condo as an investment and held onto it solely for the purpose of selling it at a later date as brand new. TPL does have a few other brand new, never lived in condos at The Ritz-Carlton LA Live so make sure you reach out to Yvonne for more information. Because of the popularity of the building and the desirability for these condos, the inventory is dwindling. Get in touch.
The Related Company, known for The Century, that gorgeous high rise in Century City, is adding to their Los Angeles portfolio with 1755 Argyle. It’s just north of one of our favorite buildings in LA, The W Hollywood, and we’ve been so curious as we’ve seen the construction in progress.
At 18 stories, this LEED silver high rise will offer 114 luxury apartment rentals touting views from the Hollywood sign to the Pacific Ocean. Designed by LARGE Architecture, the fifth floor will feature a terrace, pool, spa, dog run, lounge and library. That’s all we know for now but we look forward to seeing the finished product in 2018.
In case you’re curious, Related is known for their mixed income and mixed use housing developments. They’ve built over 14,000 residences which include 2500 affordable units and 4500 market rate units. More recent projects include the Seychelle & Waverly in Santa Monica and the Emerson in Downtown Los Angeles. Stay in touch with TPL for updates. #ContactTheLab.
It’s very exciting to see all of the real estate development happening around Los Angeles. Hollywood in particular has been experiencing a sort of Renaissance which makes it a bit more interesting and The Residences at W Hollywood is right at the center of it.
As you may know, we have a special place in our heart for The Residences at W Hollywood. It’s said to be the most elite building in the area and is a regular place of business for us because of its popularity. This property offers a unique hotel residence lifestyle that comprises ease, excitement, walkability and views. Enjoy room service to your condo, walk across the street and catch the latest Hamilton show at The Pantages or enjoy a service at the on-site Bliss Spa. What an amazing way to live.
Right now the building has some excitement happening on it’s 15th floor as they have recently launched their new “Above the Penthouse” condos. These condos are gorgeous and start about $1500 per square foot and up. Right below, on the 14th floor penthouse level, The Property Lab and owner Yvonne Arias just launched 14i. A chic, oversized one bedroom that is near 2000 square feet including the terrace. Some of the posh upgrades include Savant home automation & Lutron lighting to name a few. The views here are killer where you have the cool historic buildings as your neighbors but can also see the ocean, Century City, Beverly Hills and more. At $1,825,000, rare to get a penthouse at this high profile building under $2M. Now is your chance. #ContactThe Lab.