Pretty much every day we see the progress happening at the Oceanwide Plaza project on Figueroa St. It’s our neighbor as we are located at the fabulous Ritz-Carlton LA Live so we of course look forward to hearing any updates on this project. As we’ve reported, this building will be a similar concept to Ritz-Carlton & LA Live with a hotel, condos and retail space.
The latest news though is more about the condos, which is what we care most about right now. There will be a shopping center as we’ve told you before, but the Park Hyatt Condos are said to be planned above the hotel, just like Ritz-Carlton Hotel has condos above it, and it will be 53 stories high, just one floor shy of the Ritz-Carlton LA Live which is currently the tallest residential building in Los Angeles.
Pictured, is a rendering of the 23rd floor pool area that faces west looking pretty nice! Some of the other planned amenities include a 2 acre park, 2 dog parks, a jogging track & basketball court. There are no prices being given now but Oceanwide says they’ll be selling in early 2018, although we’ve heard quite a few whispers the prices will be sky high. There will be 1 bedrooms, duplex condos and half floor condos that could be as large as about 9000 square feet. We can’t wait to see the finished product! Make sure to reach out to us if you want to keep in the loop with this project. #ContactTheLab
Over the past 18 months (at least), we’ve seen sky high prices per square foot for 3 bedrooms at The Ritz-Carlton LA Live Residences, but just recently, there is a definite steal for a 45th floor stunner that comes with all the furnishings! This condo started just under $3.5M a little over three months ago and has now been reduced to just $2.850,000! Not long for such a hefty reduction and it shows how motivated the owner is.
At 2660 square feet, that’s a mere $1070 per square foot and there will definitely be a lucky buyer of this property soon. According to real estate broker and listing agent Yvonne Arias, the owner is ready to move this property and that is the reason for this drastic reduction.
This home is soaring on the 45th floor with amazing views of the skyline, skyscrapers, LA Live & Staples Center. On the inside, you have a spacious 3 bedrooms, an Office Space and 4 bathrooms. There are stellar views upon entry as you see walls of windows in an oversized living and dining area with upscale furnishings that are included in the sale. Other upgrades include surround sound, motorized window shades, added recessed lighting, customs wallpaper & more. Please Contact The Lab for more information. Get this while you can 😉
Anyone strolling through Hollywood the last six months or so can’t deny the bustle that’s happening in nearly every direction. A plethora of construction is happening on hotels, apartment buildings and the list goes on. Over at W Residences Hollywood, one of our “babies,” seems to be that prices are rising, or at least the developer and owners are going in that direction.
The Property Lab (TPL) & owner Yvonne Arias just launched #10G, a stylishly furnished 2 bedroom, 3 bath over 1700 square feet with the prime views of the building facing north. From every room you have the iconic Capitol Records, Pantages Theatre, Hollywood Hills in your view. This building definitely has a lot going for it as it’s considered to be the most elite property for Hollywood living and the owner is asking just over $900 per square foot & is including the furnishings at $1,550,000.
With these views, services, and their signature Whenever/Whatever service motto, seems to be well worth it. To add, the developer is finishing up the 15th floor penthouses at W Hollywood and about to launch several units for sale somewhere near $2000 per square feet. TPL owner Yvonne Arias was able to recently catch a glimpse of a few of the spaces and they definitely impressed — big time. The finishes are spectacular and worthy of a contemporary Beverly Hills mansion but who was to doubt with design firm SFA behind it (Sue Firestone). As summer approaches, the busiest real estate time of the year, we look forward to seeing what the future has in store for these condominiums. Contact The Lab for more information.
Right now, if you want a 3 Bedroom Condo at The Ritz-Carlton Residences at LA Live, you’ll have three to choose from. Two of them are the same exact floor plan on the north side of the building with price tags close to $9,000,000 (around 4000 square feet) OR you have the most recent option to come to market by The Property Lab owner & broker Yvonne Arias for a mere $4,500,000.
What a deal, right? In comparison, these are all in close range near the top of this towering Downtown Los Angeles luxury condo building. As far as the size, the less expensive option repped by TPL is a little over 1000 square feet smaller, but it’s still an ample size 3 bedroom + Den, 4 bath residence near 3000 SF. To make this condo even more appealing, it’s very tastefully furnished & get this, it comes with all the furniture & accessories! Definitely a plus as interior design & all the fixings can run up quite the bill. Take a glimpse into this 5-Star Luxury Condo below and Contact The Lab if you’re interested. 😉
If you haven’t noticed, there are some cool things happening in Century City. It was quite the construction zone along little Santa Monica Blvd for a bit, but that has definitely changed. Not only is the revamp of the Century City Mall starting to look good, but Luxury Apartment Building Ten Thousand is now complete.
At the corner of Moreno and Santa Monica, sits this 40 story residential tower in a prime area of Los Angeles, bordering Beverly Hills. The Property Lab owner Yvonne Arias recently took a second visit of the property and what a difference! The building is now complete and with nearly 100,000 square feet of indoor and outdoor space. She was more and more impressed with each amenity she saw. From the 1 acre outdoor park, to the indoor lap pool to the oversized fitness center, builder Crescent Heights didn’t miss a beat. You will surely get what you are paying for here.
Our most fave feature was learning that Jacob Hashimoto designed the entry art piece right behind the concierge desk (see featured photo). Just gave us more to love at this place! We’ve already secured one of our best clients here and we will surely bring more. Prices range from $9000-$25,000 per month offering 2 & 3 bedroom residences. #ContactTheLab.
Figueroa Avenue in the South Park area of Los Angeles is a happening construction zone! Cranes are in full force and we have updates on one of the projects at 12th & Figueroa in case you’re curious. Across the street from LA Live, home to the highly popular Ritz-Carlton Residences Los Angeles, is this new luxury project called Circa. Unlike it’s neighbor The Ritz-Carlton Residences, Circa’s two, 35 story towers will only be luxury rentals and there will be plenty of them. Circa is intending to offer a whopping 648 luxury apartments to the South Park neighborhood. Not only that, they plan to have ground level space for 3 restaurants and 4 retail stores. Anticipated rental pricing will be $3000-$20,000 per month and the square footage will range from 700 to 3800 square feet. Move ins are planned for early 2018.
Very recently, the TPL team took another trip to The Ambassador Gardens project in Pasadena. If you recall, we fell in love with the two-story townhouse model in early 2016, so we had to go back and see what the latest activity was. It seems they ended up selling that model home, not a shocker, and they only have about 4 condos left. The builder, Insignia City Ventures, did a great job with these luxury condos near the popular Old Town Pasadena area and their lowest price starts just under $2M.
The Ambassador Gardens also has ETCO Homes building a phase of their own starting in the low $2M range. They also have a historic home on this property at over 17,000 square feet asking $7,900,000 (pictured). Built in 1905, it has 7 bedrooms and 3 bathrooms. As you know, we have given this luxury community a major thumbs up. Contact us if you’d like more information. Happy Holidays everyone!
We are oh so curious about the $1 billion dollar Oceanwide Plaza project on Figueroa in South Park, Downtown Los Angeles. Those cranes have been going strong and last we heard, it would be a mixed use complex like LA Live with a hotel branded by Roberto Cavalli.
Many thought that was an interesting brand choice and seems the powers-that-be ended up thinking the same. Cavalli has since been scrapped and for about a year now it’s been a mystery what the new hotel would be. Well, wait no more. We’ve recently learned the Oceanwide Plaza project will be 504 condos and retail attached to a Park Hyatt hotel.
Now, if you’re like us, we aren’t too familiar with this hotel chain. In fact, there are only 6 of these hotels worldwide and it’s the 5-Star branch of Hyatt. Their chief says they have been very selective in choosing their new location and they feel South Park is a great fit. Apparently, they had tried the hotel in Century City and it is now the Intercontinental.
Anyhow, looks like the project is coming along and some of its starry features will include a 2 acre outdoor space, an open air galleria and a 700 Foot Exterior LED Ribbon. Sounds very Vegas-esque. Set to debut in early 2019, should be a nice addition to the booming South Park neighborhood & a great location across the street from Staples Center, The Ritz-Carlton & LA Live. Be sure to stay in touch with The Property Lab for sales updates.
Around Los Angeles, Sam Nazarian is a known business man and at the head of SBE – a company that runs trendy hotels, restaurants and night clubs like the SLS Hotel near The Beverly Center & one of its newest clubs, The Doheny Room in West Hollywood.
Right now, we’re focused on it’s newest delve into Downtown Los Angeles and that’s Cleo. We wouldn’t normally talk about a restaurant as we are focused on residential luxury real estate, but since it’s at L.A. Live, it’ll be The Property Lab’s neighbor, so we wanted to give it some attention.
This will be Cleo’s second location, as it began at The Redbury Hotel in Hollywood, very near TPL’s other popular place of business–The W Residences Hollywood. Cleo’s Chef Danny Elmaleh has won some awards we hear for Cleo so we can’t wait to try it. The restaurant is now open and serving breakfast, lunch & dinner that includes Mediterranean inspired eats like kebabs, flatbreads & a mezze bar with a glamorous twist. And we hear Cleo’s doing so well, there are plans to expand worldwide. You go, Cleo.
In Downtown Los Angeles, the First Tower of one of South Park’s most anticipated projects is about 75% sold. The Metropolis, developed by Chinese developer Greenland, is really coming along and it just topped off it’s Tower Two a few days ago on 9/30.
The amenities continue to look impressive with plans for large green spaces, dog parks, steam rooms & more. It seems the monthly HOA dues are relatively low considering what it looks like you’ll be getting. The pricing starts in the $600K range for studios & if you’re looking to move in 2016, there are still a few condos left in the first tower set for completion by December. Contact the Lab at Info@ThePropertyLabRE.com for more information. We have our eye on a few special units here…