The outlook for the real estate market can’t be so bad when one developer, The Fifield Compaies, is moving forward with the most expensive condominium project in Los Angeles’ history. The proposed 21-story 1200 Club View Tower, at the corner of Comstock Avenue and Wilshire Boulevard, will have approximately 35 units priced at about $2000 per square foot; that’s about twice what other condos in the area sell for. Units in the Club View will range from about $4 million to $14 million. To be sure, the Club View won’t be short on ostentatious luxurious amenities that any buyer of this caliber would expect:
Each floor of the tower will have no more than two condo units, and between five and seven of the floors will feature a single, penthouse-style unit. Designed by the Keating/Khang Architecture firm, the 163,000-square-foot building will feature heavy use of glass and granite, and a motor court with a floating metal ceiling and a “dignified Parthenon-like space with columns done in a modern architecture style,” said principal Richard Keating.
The “most expensive” honor probably won’t last long though: the planned Montage Hotel in Beverly Hills will have condos atop it that may sell for as much as $3000 per square foot. We’d like to know who are the suckers buying these places.
· Condos Priced at Record $14 Million [L.A. Business Journal]