Penthouses on Sale at Harper West Hollywood - Loft-Style Living, Impeccable Interiors, and Views for Miles and Miles

Harper West Hollywood, the 32-unit new condo project at 1250 N Harper Avenue in West Hollywood, has just lowered the price on two of the penthouse units.

Penthouse Unit #307 is located in the rear building that contains 8 units, including 3 penthouses.   Unit #307 is the middle penthouse, with 2 bedrooms, 2 baths, 1,465 sq ft of living area and amazing picture windows with views to the west -- and one of the best roof decks around.  The price has been reduced to $699,000 from a former $834,000 asking price.



Penthouse #423 is in the front building that contains 6 penthouse units.  This unit is a spacious 1,932 sq ft, with 2 bedrooms, 2 baths and 200 sq ft of private deck.  What makes this unit so special is the loft-living with a fantastic upper level that can be a bedroom or guest bedroom, workspace or entertaining area.  Did we also mention that Penthouse #423 has a fantastic walk-in closet?  This unit was formerly priced at $944,000, and is now offered at $799,000.



We'd also like to show you a video walk-through of Unit #410, which is a 1 bedroom, 1.5 bath, 2 story unit priced at $529,000.  It has 1,326 sq ft of living area, and includes great features such as  access via a private stairway, walk-in closet, and great, open living-dining area.



**************************************************************************************If If you have questions about Harper West Hollywood, please call us at (310) 845-6810 or email us by clicking on this link.

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Beverly Hills Homes Mount Stunning Comeback and Rebound 6.7% from 2009 Lows; Auguring Better Times for High-End Los Angeles Real Estate?

If Beverly Hills real estate is any indicator, recent reports that 'The Great Recession' ended in 2009 hold true.

The median sale price of Beverly Hills single family homes has made a stunning turnaround from its low of $2,870,000 in 2009, and is now averaging $3,063,000 year-to-date in 2010, up 6.7% from last year.  In spite of the rocky economy, buyers (essentially investors) are looking at Beverly Hills as a safe place to sock away cash that may not be subject to outlier events like the "flash crash" or the likes of Bernie Madoff.

The top sale of the past three months was 1728 Chevy Chase Drive, a 5 bedroom, 7 bath, 7,200 sq ft house on a 20,689 sq ft lot.  This Mediterranean tennis court estate sold for $8,300,000.  It had been listed in January 2009 for $10,995,000. 

630 Mountain Drive, a grand Mediterranean estate on the one of the most exclusive streets in Beverly Hills (just off Sunset, close to Greystone Park), sold for $7,935,110.  This 1964 home is a fixer and has 4 bedrooms, 8 baths, 8,287 sq ft of living area on a full acre lot. 

Distress is not absent from the Beverly Hills market.  907 N Roxbury Drive was sold in Bankruptcy Court for $7,580,000.  This 5 bedroom, 7 bath, 8,394 sq house on a 23,900 sq ft lot is north of Sunset and was built in 1985.

Trousdale Estates was home to 0 Carla Ridge, set on a promontory with views to the Getty, Catalina Island and Downtown.  This 4 bedroom, 7 bath house has 6,200 sq ft of living area and is set on a 20,380 sq ft lot.  It sold for $7,500,000.

An excellent Beverly Hills rehab opportunity came on the market by Greystone Park, close to the Sunset Strip border.  424 Robert Lane, a 1960's period gem with 6 bedrooms, 9 baths, 6,834 sq ft of living area on a full one acre lot sold for $7,500,000 (somewhat off its list price of $10 million).
 

Finally, 8643 Clifton Way, a little cottage in the flats of Beverly Hills, almost seemed like a deal, selling in a short sale for $900,000.  This 3 bedroom, 2 bath home has 1,286 sq ft of living area on a 5,160 sq ft lot.  Just goes to show it doesn't cost a cool million to live the 90210 lifestyle.

Pacific Palisades Home Sales Start at $1 million, Median Price $2,075,00 - Top Sales in Palisades Riviera

From the sun-dappled bluffs of the Palisades Riviera, to the nature-shrouded estates of the Palisades Highlands, all the way to the ocean-kissing heights of Castellamare, the Pacific Palisades remains one of the most sought-after swaths of real estate in Los Angeles -- and the nation.

The recession seems very much in recession in this prime area of Westside real estate. Of over 100 home sales in the past 3 months, all but two were over $1,000,000. The median sale price for a home in the Pacific Palisades during this period was $2,075,000 or $677/sq ft.

The top sale of the past three months in the Pacific Palisades was $10,000,000, for an estate that encompasses the iconic Case Study House 9, designed by Charles Eames and Eero Saarinen.  This legendary piece of architecture is now the guest house for a fully loaded estate that includes 6 bedrooms, 6.5 baths, 8,500 sq ft of living area on a 43,500 sq ft lot.  Top design, top location, top price.

Down the road, in the Palisades Riviera, 1272 Corsica Drive, with 5 bedrooms, 7.5 baths, 8,078 sq ft on a 17,292 sq ft lot sold for $6,500,000.  This custom built Cape Cod estate even includes a 23 seat movie theater.

Nearby, in the Riviera Rim, 527 Spoleto Drive, offers ocean and city views, and sold for $5,300,000.  The 1965 house has been fully updated and has 5 bedrooms, 6.5 baths, 5,953 sq ft of living area, and 14,374 sq ft lot.

Still in the Palisades Riviera, 1136 Corsica Drive, 2008 new construction, sold for $5,205,000.  This Mediterranean villa has 6 bedrooms, 6.5 baths, 5,912 sq ft of living area and a 14,000 sq ft lot.

But, alas, the Palisades, embracing the luxury and comfort of Westside living, is not without its inklings of distress.  720 Almar Avenue, was sold in foreclosure for $2,150,000.  The house is remodeled and has 5 bedrooms, 4.5 baths, 3,827 sq ft of living area on a 6,359 sq ft lot.

Short sales in some cases prove to be the best deals on the market, and we think 1356 Piedra Morada Drive was quite a steal at $2,630,000.  The tennis estate, has a pool and includes 5 bedrooms, 5 baths, 5,467 sq ft of living area on a 21,546 sq ft lot.

Concerto-Watch: Downtown Los Angeles' Condo Mega-Project Surmounts More Obstacles Than an Olympic 440-Runner

Much ink (and digital ink) has been spilled on the illustrious Concerto project in Downtown Los Angeles, chronicling the twists, turns, and pirouettes as this magnificent, mega-condo development in the South Park neighborhood comes to market.

Here's the Reader's Digest version for those considering buying units in the building.

The project is the "baby" of developer Sonny Astani, who conceived of a three-building complex at 9th and Figueroa in Downtown Los Angeles.  In 2004, this was a maverick move, supported by the wave of condo fever sweeping Downtown LA.

Cut to 2009.  The 77-unit Lofts building was 90% complete.  The first of two Towers was erected, with most interior construction still remaining.  The third Tower was a hole in the ground excavated a few stories deep.

Then Corus, Concerto's construction lender, that also had risky condo project investments across the country, was taken over by the FDIC.  Starwood Capital Group, an investment firm, won an auction to take over Corus' assets (with the FDIC retaining 60% ownership) -- including the $190 million Concerto construction loan.

When Corus failed, Astani filed for bankruptcy, and a judge ruled that Astani could close the Lofts units, which had been sold at a "One Day Sale Event" in August 2009.  The Lofts building is now  occupied ... signs of life (and not strife) at Flower and 9th.

Now, Astani is in a stalemate with Starwood, and is paying $750,000 interest per month as construction inches to a close in the Tower.  Astani has until December to present the Court with a financial plan, and until then, it's impossible to see how contracts can close.

The units, with amazing views and vistas, are priced from  $356,000 for a 759 sq ft 6th floor unit, or $405,000 for a 909 sq ft 5th floor unit, to $525,000 for a 1158 sq ft 5th floor corner unit. 

We see no reason why the building should not be completed, sold and occupied today.  Los Angeles could certainly use the 600 union construction jobs, and EVO down the road demonstrates a proven demand for large scale, high-quality, new construction in South Park.

These excellent units will find delighted buyers once the financial kinks of this project are worked out.

Los Angeles Times article:

Downtown developer battles investors, FDIC

Some of our previous coverage on Concerto:

Concerto and EVO South in Downtown Los Angeles - Say Hello Again to Two Favorite Condo Towers in South Park - July 12, 2010
In Downtown Los Angeles, Concerto's Future Hangs in the Balance - September 24, 2009
5 Reasons We Love Concerto in Downtown Los Angeles - July 22, 2009
Concerto: Pitch-Perfect Debut at 9th & Figueroa in Downtown LA - June 8, 2009
Concerto: Headwinds Greet Downtown LA Condo Project - April 23, 2009