So this is how a heiress downsizes: Candy Spelling, the 63-year-old wife of late television producer Aaron Spelling has purchased the $47 million penthouse at The Century, that under-construction Robert A.M Stern-designed building in Century City. Spelling, who currently lives in the legendary Holmby Hills estate, paid $2,848 per square foot, the highest price-per-square-foot record for a Los Angeles condominium residence, according to Related, the building's developer. More via the Los Angeles Times: "Building developer Related Cos. of New York said Spelling would work with her own architects and designers to customize her space on the 41st and 42nd floors. But a few of the details have been negotiated. The lower floor will have a living room with two working fireplaces, a dining room for 25 guests, and staff quarters. The top floor will house the bedrooms including a 4,000-square-foot master suite, a massage room, an exercise room, a conservatory complete with rose garden, and a swimming pool and deck." [Century shot via Atwater Village Newbie]
THE TROPHY PENTHOUSE CONDOMINIUM DEBUTS IN LOS ANGELES AT THE CENTURY
Related Continues Record-Breaking Sales with Purchase of $47 Million Penthouse
CENTURY CITY, Calif. (July 22, 2008) – In a sale that is certain to be the topic of discussion at summer cocktail parties throughout the country, Related announces the purchase by a Los Angeles estate owner of the top two floors of The Century, Los Angeles’ brand-new and most luxurious residential condominium. The magnificent penthouse residence, spanning approximately 16,500 square feet with a price of $47 million, or $2,848 per square foot, has set a new high price-per-square-foot record for a Los Angeles condominium residence.
“Before choosing The Century, I carefully explored all of the high-rise buildings on the Westside, and The Century was the only one that met my expectations. It offers a completely new alternative,” said the buyer, a native of Los Angeles. “I am confident I have found the premiere penthouse, building and developer in Los Angeles.”
“We are experiencing a very strong market for extraordinary properties such as The Century, Los Angeles’ first ultimate trophy condominium property,” said David Wine, Vice Chairman of Related. “The combination of exceptional quality and design, unmatched views, vast interior and exterior living area and simply the finest amenities, above and beyond anything else offered on the market, make this penthouse a stunning acquisition. This sophisticated and well-traveled purchaser, currently residing in one of the city’s most important estates, wanted the freedom that will come from no longer having to manage a large estate and staff and yet will continue to enjoy the pleasures of estate living.”
The previous record for a Los Angeles condominium sale was set in February when a half-floor penthouse at The Century sold for $15 million or $2,700 per-square-foot. The Century has achieved sales of $200 million and has sold more than 50 percent of the first release. The building is expected to be topped out at its full height by the end of this year.
This extraordinary penthouse residence, certain to be among the premiere condominium residences in the world, will crown the 42-story building which presides over nearly four acres of landscaped gardens in the heart of Century City. The penthouse features breathtaking panoramic views from Downtown Los Angeles and the Hollywood Hills to the east, and west to the Pacific and Santa Catalina Island. Designed by the renowned architecture firm of Robert A.M. Stern Architects, LLP, The Century presents the evolution of estate living and offers an exceptional array of services and unrivaled amenities. The Century will be ready for occupancy in late 2009.
The buyer has been working with Related on the design of the penthouse residence and current plans call for the first level to feature an expansive living room with two fireplaces and dining room that can comfortably accommodate 25 guests, each with large private terraces, a reception room, a chef’s catering kitchen with separate china storage, breakfast room, climate-controlled wine storage, an office and staff quarters. The second level will include more personal spaces, including a garden conservatory with a rose garden and spectacular views of the Pacific, a private pool and pool deck opening onto a terrace, a massage room, exercise room and a master bedroom suite of approximately 4,000 square feet with a private terrace, spacious dressing area and a midnight pantry.
“The Century was planned to offer the perfect choice for buyers who are accustomed to living in grand homes and who travel to hotels and resorts with the finest amenities,” said
Wine. “In fact, The Century has been designed specifically for wealthy home owners who want a life of estate living, but who are ready to give up the burden of home maintenance and be in the center of everything in Los Angeles’ Westside. So many of our buyers are currently living in notable homes and have been looking for an alternative that has not existed until now.”
The Century’s 140 residences will offer the distinctly luxurious lifestyle that Angelenos expect and enjoy, yet have not been able to realize in a luxury high-rise condominium. The private, lush landscaped estate gardens feature outdoor entertaining rooms with fireplaces, fountains, walking paths and private spaces. The pool area consists of a 75-foot pool with views stretching to the Pacific, perfect for swimming laps, privately owned cabanas and outdoor dining. The Century will also have an on-site signature restaurant that will cater to residences, as well as provide poolside and outdoor dining.
Life’s special occasions are celebrated in The Century’s exclusive entertainment suite featuring an elegant lounge, formal banquet room, a screening room and an Assouline Culture Lounge. Additional amenities include a private fitness center, spa treatment rooms, wine-tasting room, children’s playroom and a business center with a boardroom. Each residence will include concierge service, a membership to the ultra-exclusive Equinox Club in Century City as well as the Equinox-designed gym in the building, valet indoor parking, individually secured storage, personal wine storage and sophisticated telecommunications capabilities, including a membership to Sony Cierge. Additionally there are private offices, guest suites and poolside cabanas available for purchase exclusively for owners at The Century.
The Century Sales and Design Center, located on the 41st floor of Century City’s iconic Century Plaza Towers, provides the perfect environment in which to experience what it will be like to live at The Century. It overlooks the graceful Robert A.M. Stern Architects-designed structure, which is currently under construction, affording stunning views of the ocean, mountains, and surrounding cityscape almost identical to the panoramas The Century residents will enjoy.
www.thecentury.com
ABOUT RELATED:
Heralded as one of the most prolific and visionary developers in the country, Related Companies was formed over thirty-five years ago. Today, Related is considered the most prominent privately owned real estate development firm in the United States with divisions in development, acquisitions, property management, marketing and sales.
Headquartered in New York City, Related has offices and major developments in Aspen/Snowmass, Boston, Chicago, Los Angeles, Las Vegas, Phoenix, San Francisco and South Florida and boasts a team of more than 2,000 professionals. Related has real estate assets worth over $15 billion, including New York City’s newest landmark Time Warner Center and CityPlace in West Palm Beach, with another $25 billion currently in development including a 26-acre new neighborhood on the west side of New York City. In Los Angeles, Related is expanding its portfolio with The Century, a super-luxury condominium in Century City and the Frank Gehry-designed Grand Avenue development, situated directly across from the beloved Walt Disney Concert Hall, which will include luxury residences, retail, notable restaurants and a world class hotel.
Related is staunchly committed to sustainable design with over $6 billion in green development underway or completed. The firm developed one of the first green residential buildings in the nation, Tribeca Green in Battery Park City, New York and Chicago's first green residential building, 340 on the Park. Related is currently developing seven new LEED-certified residential buildings, The Brompton, The Harrison, and Superior Ink in New York City, The Clarendon in Boston, The Century in Los Angeles, The Village in Santa Monica, and The Peshtigo in Chicago as well as several green mixed-use and retail projects.
In 2006 Related acquired Equinox®Fitness Clubs, further expanding the company's capabilities into the health and fitness arena and enhancing the value of its properties by incorporating an exclusive, branded amenity into the lifestyle offering. For more information about Related Companies please visit www.related.
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