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Nearly-Sold-Out Ritz-Carlton Residences Get First Two Resales

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The Ritz-Carlton Residences, the 224 condos at the top of the Marriott/Ritz tower in South Park, are finally close to selling out. The units first started hit the market in 2007 (the building opened in 2010), but there wasn't a single sale until 2011; now, thanks to a much brisker 2012 and 2013, there are only six units left, all penthouses, and developer AEG thinks they'll sell out by the end of the year. (Even so, very few people actually live in their units--a third are full-time residents, a third use them as second homes, and a third own them only as investment properties, according to KPCC.) On top of all that action, real estate agent Yvonne Arias tells us she's just closed the building's first two resales ever. Unit 40D, a two-bedroom, two-and-a-half bathroom with a study, sold a few weeks ago for $1.75 million. According to PropertyShark, it last sold in 2011 for $1.777517 million. Unit 31E, a one-bedroom pocket listing, just closed for $940,000. PropertyShark says it first sold in early 2012 for $856,000.

· 900 West OLYMPIC Blvd Unit 40D [Redfin]
· Ritz-Carlton Residences [Curbed LA]

JW Marriott/Ritz-Carlton at LA Live

900 W. Olympic Blvd. , Los Angeles, CA 90015 Visit Website