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Prices Dropped, W Residences Opens Its Doors

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A hodge podge of different photo from Sotheby's site
The second portion of the W Hotel, the Residences, opened last night. The 143-unit building has been selling for some time, but now you can actually wander around and see furnished models. Not surprisingly, the W Residences has seen prices drop--according to Sothebys agent Russell Filice, all the units have been repriced to reflect the current economy. Most units dropped in price by 30 percent, while others dropped 50 percent. Additionally, units that were under reservation were repriced. Right now, a roughly 900 square foot studio starts at $500,000, according to Filice, while the most expensive unit will cost you $5 million. Meanwhile, has better photos of the residences, having taken a tour with Filice. Sounds like it's quite a party: "When reminded about the bar scenes at the hotel, we asked about how sound-proof the hotel rooms and residences would be. "You don't come here to sleep," remarked Filce. With living room stripper poles and mistress doors in the closets, that may be the most honest sales pitch of them all." Zing! But surely there are some quiet units, too.
· Hollywood W Residences [Sothebys]
· The Residences at W Hollywood Officially Open Today []

Hollywood W Residences

hollywood and vine, los angeles, ca