Two luxury condos sell for record prices as L.A.’s high-rise market surges

  • 📰 latimes
  • ⏱ Reading Time:
  • 63 sec. here
  • 3 min. at publisher
  • 📊 Qulity Score:
  • News: 28%
  • Publisher: 82%

Two record-setting condo sales are the latest indicator of the post-pandemic demand for luxury vertical living as L.A.'s entire condo market improves.

United States Headlines News

United States Latest News, United States Headlines

The pandemic put a damper on high-rise living, as a highly infectious airborne virus made close proximity to neighbors suddenly unappealing. But the condo market has come roaring back, particularly at the high end.

, a new hotel-condo hybrid opened by Montage Hotels & Resorts. The $500-million complex built on the former site of the House of Blues is one of multiple projects coming to the Sunset Strip as developers look to lure buyers into luxury condos loaded with high-end amenities.

“Condo living is a newer concept for L.A. We’re a culture of swimming pools and backyards,” said Jim Jacobson, the senior vice president for Douglas Elliman’s development marketing. “But now that people can tour the units in person again, they’re buying everything.” “They’re unique because they live like a home but are set within this urban environment,” said Tina Necrason, Montage’s executive vice president of residential development.Take a look at five condos on the market for $400,000 around Los Angeles.

Douglas Elliman recently sold out the Residences at the West Hollywood Edition, another hotel-condo hybrid with 20 luxury units ranging from $5 million to $25 million. Jacobson credited buyer response to the high-end amenities of the units and to the scarcity of inventory, with demand vastly outweighing the supply of luxury condos on the market.The coming years will see a bit more inventory in the form of One Beverly Hills, a 17.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Spain has a two-speed economy with high unemploymentSpain already suffered from chronically high unemployment. Now the pandemic has hit its economy harder than its European neighbours RT : Spain already suffered from chronically high unemployment. Now the pandemic has hit its economy harder than its European neighbours KRLS Somos una democracia avanzada. Muy avanzada. 🔥BossBabyLink ($BBLINK)🔥 The new token that rewards holders in Chainlink 🔥Many influencers on board 🔥 Active community 🔥LP locked for 6 months. 🔥 3 days old 🔥 Listed on CG / CMC coming Telegram: BabyLinkOfficial
Source: TheEconomist - 🏆 6. / 92 Read more »

Myanmar junta chief takes new PM title, pledges elections in two yearsThe general's announcement would place Myanmar in the military's grip for nearly two and a half years – instead of the initial one-year timeline the junta announced days after the coup.
Source: trtworld - 🏆 101. / 63 Read more »

Love Island's Malin Andersson pregnant again two years after daughter's deathLove Island star Malin Andersson has revealed she's expecting another child two years after the tragic loss of her daughter Consy
Source: Mirror Celeb - 🏆 476. / 51 Read more »

Olympic surprise: American Finke leaves Tokyo with two goldsBobby Finke leaves Tokyo with two gold medals for the Tokyo Olympics. Tokyo2020 TeamUSA thanks BRAVO BOBBY AND ALL AMERICANS WINNING MEDALS USA.!!.AND all others representing USA who went and did their best!! Britain has no guaranteed, assurance to students studying in london as foreigners since they will not be protected when kidnapped in other countries on holiday.There is no need studying in Britain as they cannot protect a student who is not a British.
Source: ABC - 🏆 471. / 51 Read more »

Myanmar junta chief pledges elections in two yearsThe general's announcement would place Myanmar in the military's grip for nearly two and a half years – instead of the initial one-year timeline the junta announced days after the coup. The Myanmar junta never deposed Suu Kyi. She was their mouthpiece for a while and no longer needed
Source: trtworld - 🏆 101. / 63 Read more »

Dodgers bunch together hits in two big innings, defeat Arizona DiamondbacksJustin Turner's go-ahead two-run homer was the highlight in a four-run seventh inning, and the Dodgers beat the Arizona Diamondbacks 8-3 on Saturday. horrible LET'S GO DODGERS💙
Source: latimes - 🏆 11. / 82 Read more »