L.A.'s Most Expensive Condo on Wilshire Sells for $7.27M

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One of six penthouse mega-condos at Wilshire Boulevard's The Carlyle Residences closed last week for $7.267 million. Sale of the 5,194-square-foot home made it the highest-priced condominium sale on L.A.'s famed eight-lane boulevard of high-rise residential buildings since February 2008.

Built and developed by the Elad Group (the company that remade New York's historic Plaza Hotel into hotel/residences), the building is already a hit with some famous faces. To date, celebs like Bruce Willis, talk show host Larry King, L.A. Dodger Matt Kemp and crooner (and Jason Bateman's father-n-law) Paul Anka have all bought condos there, likely because of the building's clever celeb-friendly design.
The Carlyle has careful, paparazzi-free design: The main entrance is set back from the street behind hedges; there is also an entrance underground via the parking garage; and windows are coated so that residents can see out but those in neighboring buildings or across the street can't see in.

The long lenses of the paparazzo can't penetrate the glazed windows either!

Completed in 2009, The Carlyle will most likely be one of the last luxury condominium developments to be built for some time on the crowded boulevard. Closer to Beverly Hills and overlooking the Los Angeles Country Club's golf course, the 35-unit Beverly West Residences is close to completion. Developed by EMAAR properties, creators of the world's tallest building, the Burj Khalifa in Dubai, that project has yet to come to market.

So those looking for ultra-new and private are considering The Carlye, which also offers "white-glove" hotel service to residents and remarkably functional floor plans. Its location just two blocks from central Westwood in an established Los Angeles residential neighborhood, means Carlyle occupants can actually walk to numerous restaurants, much shopping and excellent cultural activities at the nearby Hammer Museum, Geffen Playhouse and on the UCLA campus.

Their 24-story building has only 78 residences. And because the elevators are staggered in locations throughout the tower, elevators open directly into residences. A special key allows access only to each resident's own entrance. Security is super-tight, too, and on hand 24/7.

"The elevator configuration has resonated with buyers and is unusual for Los Angeles," says Alan Mark, president of the Mark Co. -- the marketing firm for the building. (Mark previously helped sell out San Francisco's St. Regis Residences).

A slew of services are included in the building such as a private, temperature-controlled wine locker for each residence, housed in an apartment-sized wine room, a shared living room designed by Fendi Casa, and a gym designed in partnership with SportsClub LA that rivals those found at many mid-size hotels. For those who do buy in, decision making at this point is left to choosing the style of hardwood floor and finishes. Everything else is done, from the his-and-her bathrooms to the show kitchens. "It's been very important to buyers, a key thing, that they can move in quite soon after purchase," notes Mark.

The next highest priced Wilshire condominium sale was at The Californian at $4,825,000.

Once the expected competitors are complete -- the Beverly West Residence and The Century, nearing completion in Century City -- the three high-rise, high-priced projects should push condominium per-square-foot prices even higher. The topmost Carlyle penthouse is now priced at $14 million, a record for the Los Angeles corridor.

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