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Candy Prefers the Century, W Hotel Haggling

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As part of their real estate quarterly issue, the Los Angeles Business Journal takes a look at the six biggest condo projects currently selling, or about to open for sales. The list includes everyone from the W Hotel to the Montage Hotel in Beverly Hills (still trying to sell those condos atop the hotel), but here are the juicy bits from the story: Notably, Related stopped marketing efforts for its Century City project The Century due to the financial markets, but will relaunch sales in the next month. Additionally, at some projects, buyers who already signed contracts are trying to renegotiate to get a lower price. Via the paper: "[Reno R. Rolle] signed a contract for a one-bedroom condo at the W Hollywood in 2007. While the contract set the price at about $750,000, which would make the condo among the least expensive units at the property, Rolle said that he’s looking to renegotiate it lower. Rolle tells the paper that "W management has said they are aware of the economy and is putting together a plan for concessions.” Additionally, the LABJ checks in with the slow-moving Beverly West project on Wilshire, reporting that Candy Spelling, who later bought that $47 million penthouse at the Century, originally wanted to buy at the Beverly West, but walked away from closing on a unit, and headed to the Century instead. Now that's a tough commission to lose.
· Real Estate Quarterly: Condos Topping Out [LABJ]
· Meet the Final Four, Last of the Luxury Towers [Curbed LA]

The Century

1 Century Dr., Century City, CA Visit Website

Beverly West

1200 Club View Dr., Los Angeles, CA