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Back HomeHighly Anticipated New Developments—Filled With Amenities Galore—Opening in Los Angeles
Highlights include the final phase of the Playa Vista urban community, and a group of townhomes in Santa Monica
Photo: Metropolis
After a sluggish start to the year, luxury home sales in Los Angeles rebounded in July, but they are still down for the year overall.
“July showed a notable pickup in luxury sales in Los Angeles,” said Selma Hepp, chief economist and vice president for business intelligence at Compass, noting that the luxury market “is still relatively solid.”
Sales of homes priced over $3 million are “down only 1% compared to last July, yet still down 15% year-to-date due to the considerably slow start of luxury sales at the beginning of 2019,” she said.
Across Los Angeles, median home prices increased again in July with the overall increase averaging about 4% compared to last year, according to the July Compass report. The strongest gain in sales was among homes priced between $1 million and $2 million.
The pace of sales continued to improve, with homes generally selling in 30 days, which is only five days slower than last year’s 25-day median, according to the Compass report.
As far as price points that are doing well within the luxury market, the “$2 million to $5 million range is doing pretty well, with $5 million to $10 million not doing as well,” said UCLA Ziman Center for Real Estate professor and developer Paul Habibi.
“North of $10 million is still doing fairly well because there is a limited number of homes and a limited number of buyers,” he said.
International buyers have had a strong presence in the luxury market of late, Mr. Habibi said. “There has been a little bit of dearth of Chinese investment in L.A., but it hasn’t really made a dent in pricing yet.”
As far as looking at how the market will perform going forward, pending sales (homes currently in contract) are often a good indicator, Ms. Hepp said, noting that such sales in Los Angeles in July were up 11% compared to last year.
The luxury market “will likely continue to bounce around current levels,” she said, “as buyers have grown accustomed to financial market volatility and global and trade concerns.”
Absent some unforeseen global event, “demand from luxury buyers should remain solid going forward,” Ms. Hepp said.
The range of amenities being offered by developers keeps getting amped up, ranging from private elevators and urban parks with doggie water stations to Tesla-ready garages and wraparound rooftop terraces with views of the Hollywood Hills.
Below are a few luxury developments in Los Angeles that are launching sales this fall.
The Case Residences (Photo: Scott Gillen/Unvarnished)
The Case Residences, 24199 Case Court, Malibu
Part of a $500 million portfolio called The Malibu Series, The Case Residences was one of the most expensive residential land purchases in the history of Los Angeles.
The residences are named in homage to the mid-20th-century experiments in American residential architecture from significant architects, including Richard Neutra, Charles and Ray Eames and Ralph Rapson. Scott Gillen and the team at his design and build firm, Unvarnished, broke ground in 2018
It features five spectacular mid-century modern-inspired homes located within a 24-acre exclusive guard-gated community in the sought-after Malibu Bluffs. It might be the most valuable undeveloped property anywhere on the coast of California with entitlements taking 11 years to obtain before breaking ground. The Case features all-encompassing panoramic views of what locals call the Queen’s Necklace, which includes the famous Surfrider and Malibu Colony beaches.
Photo: Scott Gillen/Unvarnished
The homes are priced based on acreage, size, and views, and to live in one of them will cost you a minimum of $50 million—and go all the way up to $100 million.
The Case homes are designed to complement Malibu’s authentic beauty, with Mr. Gillen’s distinct warm minimalist style that emphasizes clean lines and ocean views. The furnished homes will feature idyllic water features, expansive great rooms and large pools. Some of the homes will have separate guest houses and enclosed courtyards. The project, which is being marketed by Douglas Elliman’s Tracy Tutor, launched in August, and construction on all five residences is underway. They are slated for completion at the end of 2020.
Number of Units: 5
Price Range: $50 million to $100 million
Developer/designer and architect/interior designer: Scott Gillen,Unvarnished/Scott Gillen,Unvarnished and Richard Landry/Scott Gillen
Sizes: 9,500 to 12,000 square feet, on 2.5-acre to 6-acre lots.
Amenities: None that are communal, other than a 24-hour manned security gate.
Website: https://themalibuseries.com
Highland Homes Santa Monica (Photo: Anthony Barcelo)
Photo: Anthony Barcelo
Highland Homes Santa Monica, 3214 Highland Ave., Santa Monica
This rare new construction townhome development in Santa Monica—the first in decades—showcases a collection of six contemporary residences designed by the Venice Beach-based architectural and design studio Electric Bowery.
This signature boutique property sits in the highest demand areas of Silicon Beach—on the border of the Ocean Park district (Santa Monica) and the Rose Avenue district (Venice). Listed by Patrice Meepos of Compass, the development is one block from Rose Avenue restaurants and shops, four blocks from Santa Monica’s iconic Main Street and six blocks from the beach.
The gourmet kitchens feature Miele appliances, custom walnut cabinets and large walk-in pantries. Architectural and design features include floor-to-ceiling windows, high-end finishes, wide-plank oak flooring, and large master closets. Unit 5 is in-escrow pre-market, Units 1-3 launched in August and Units 4 and 6 are launching at the end of the third quarter.
Photo: Anthony Barcelo
Number of Units: 6
Price Range: $2.35 million to $2.495 million
Developer/Architect: Meepos / Millennial/Electric Bowery and Breakform Design
Sizes: 1,700 to 1,900 square feet. Four units have three bedrooms and two full bathrooms and one partial bath. One unit has two bedrooms, one full bathroom and one partial bath. One unit has two bedrooms, a bonus room, two full bathrooms and one partial bath.
Amenities: Ample outdoor space, with private ground-level patios off of the living area, drought-tolerant landscaping throughout the property, privately enclosed oversized two-car garages for each unit, and private rooftop decks with gardens and 360-degree unobstructed views.
Website: highlandhomessm.com
One Coast (Photo: Jason Speth)
One Coast, 17322 Tramonto Drive, Pacific Palisades
The new One Coast development in Pacific Palisades offers a mix of 53 lock-and-leave-style multi-level townhomes and single-level flats overlooking Sunset Beach and sited on the Pacific Palisades bluffs. Pre-sales have commenced. Pre-sales have commenced. In mid-October, the community is slated for completion, with public sales launching in early 2020.
The community offers views of the ocean and the Santa Monica mountains and immediate access to the beach along the Pacific Coast Highway, with Malibu just a short drive north and Santa Monica moments away to the south. Most top-floor residences have private rooftop decks that are hot tub and barbecue ready. All of the homes have verandas, elevators, and two- to three-car garages.
Photo: Jason Speth
Number of units: 53
Price Range: Starting in the high $2 millions to mid $6 millions
Developer/architect/interior designer: ETCO Homes INC. and Taylor Morrison/Bucilla Group Architecture/Objekt Design is the designer for the model homes and they curated all furnishes for all of the townhomes and residences.
Sizes: 2,810 to 5,017 square feet, ranging in size from two to five bedrooms with 3.5 to 5.5 bathrooms
Amenities: Gated community with concierge services and 24-hour guard and observation deck.
Website: liveonecoast.com
Monterey Vista Homes (Photo: Virtually Here Studios)
Photo: Virtually Here Studios
Monterey Vista Homes, 6111 Monterey Road, Highland Park
Monterey Vista Homes will launch sales and delivery this fall, offering eight single-family homes and expansive floor plans with three- and four-bedroom options and designer-selected flooring, lighting fixtures and tile.
The homes are nestled at the base of the Monterey Hills and close to the Figueroa Street retail district. They are centrally located to public transit and offer a quick commute to Pasadena or Downtown L.A. The custom kitchens feature Bosch stainless-steel appliances, a wet bar and wine fridges. The fourth-level flexible space in some floor plans opens to rooftop terraces with hillside views and can function as a secondary master suite, with a walk-in closet and full bathroom, creative space, or entertaining area for guests. The homes are listed by Joe Reichling and Courtney Pickard of Compass.
Number of Homes: 8
Price Range: $949,000 to low $1 millions
Developer/architect/interior designer: CMB Development/Bien-Wilner Architects/Bernemen Creative Design
Sizes: 2,096 to 2,443 square feet, ranging from two to four bedrooms
Amenities: Private rooftop decks with views of Monterey Hills and direct-entry garages
Website: montereyvistahomes.com
Encore at Playa Vista (Photo: Playa Vista)
Encore at Playa Vista, 12666 West Millennium Drive, Playa Vista
Encore, in Playa Vista, the connected urban community on the Westside of Los Angeles, opens for sales this fall with 14 multi-level, single-family homes in the heart of Silicon Beach. Construction is underway now with completion expected in the second quarter of next year.
Encore, by home builder Taylor Morrison, joins the few remaining single-family residences of Jewel and The Collection and the attached homes of Seabluff as the last new homes available in developer Brookfield Residential’s Playa Vista. The Encore homes are designed to offer sleek and stylish architecture and a seamless blend of indoor/outdoor living, including modern open-concept layouts and covered outdoor decks with magnificent bluff views. High-end appointments include elongated driveways, chef’s kitchens and private elevators.
Number of Homes: 14
Price Range: From $3.1 million to over $4 million
Developer/architect: Brookfield Residential/Robert Hidey Architects
Sizes: Single-family homes range from approximately 3,627 to 3,666 square feet, with four to five bedrooms, three baths, plus one to two powder rooms, two-car private garages and guest space.
Amenities: Encore is in Playa Vista, which offers one of the country’s largest public parks system within a privately maintained planned community. There are 27 urban parks as well as The Link, which connects the community via a meandering path, fountains, seating areas, landscaping and a series of doggie water stations. The active open spaces include four off-leash dog parks, and the parks network also includes urban gardens, hiking trails, putting greens, community events, a riparian corridor and freshwater wetlands.
Website: playavista.com
Photo: Playa Vista
Lodi Hollywood (Photo: Sherri J Photography)
Lodi Hollywood, 6136 Lexington Ave., Hollywood
This project offers eight luxury single-family homes in Hollywood’s Media District, home to Sirius XM’s new offices and Jeffrey Deitch’s new West Coast gallery. The floor plans feature large open-concept living rooms and kitchens with Thermador stainless-steel appliances, an island, a wet bar with a wine cooler, a walk-in pantry and Bulthaup cabinetry. Fleetwood sliders open to private second-level balconies.
The master suites feature dual walk-in closets and a luxury bathroom with a soaking tub and shower. The first level contains a third bedroom and bathroom that would work well as a guest room or private home office. Design features include engineered oak flooring and integrated security monitoring systems.
The project launched and completed in August and is listed by Boni Bryant and Joe Reichling of Compass.
Number of Homes: 8
Price Range: $1.399 million to $1.525 million
Developer/architect: 3 PG Development/Jay Vanos
Sizes: 2,483 to 3,540 square feet, with three bedrooms, three full bathrooms and one partial bathroom
Amenities: Direct entry garages and wraparound rooftop terraces with 180-degree views of Hollywood and Downtown Los Angeles.
Website: www.lodihollywood.com
Metropolis (Photo: Metropolis)
Metropolis, 877 Francisco St., Downtown Los Angeles
In the heart of Downtown Los Angeles, the high-rise community of Metropolis has released a new phase of 32 residences. These include eight two-story penthouses capturing sky-high views and ranging in size up to 3,534 square feet. Metropolis features three residential towers, the boutique Hotel Indigo and 70,000 square feet of retail space.
Featuring contemporary architecture by Gensler, residences at Metropolis maximize light, air and views, with high ceilings and floor-to-ceiling windows framing panoramic vistas of the Los Angeles skyline and the Hollywood Hills. Home features include versatile open floor plans and expansive great rooms. The new two-bedroom homes are all corner residences, with multi-directional views and both two and two-and-a-half bath options.
Features in the Penthouse Collection include floor-to-ceiling windows, automated window shades, Caesarstone countertops, kitchen islands, Miele and Bosch appliances including a wine refrigerator, European oak floors, Toto and Waterworks bathroom fixtures, and Nest Learning Thermostats.
The newest phase of residences was released for sale this summer.
Number of Homes: 32
Price Range: $489,000 to over $4.5 million
Developer/architect: Greenland USA/Gensler
Sizes: Studio, one- and two-bedroom residences and penthouses ranging from 482 to 3,534 square feet
Amenities: An owners’ clubhouse, a resort-style pool and spa with cabanas, a state-of-the-art fitness center and yoga studio, a game room, a screening room, a wellness garden, a dog park, a business center, and 24-hour lobby ambassadors and security. Homeownership also includes unlimited access to the four-star dining and cocktail lounges at the adjacent Hotel Indigo.
Website: metropolislosangeles.com
Photo: Metropolis
National 10 (Photo: Sherri J Photography)
Photo: Sherri J Photography
National 10, 9218 National Blvd., Culver City
This boutique collection of new tri-level single-family homes is near tech-centered Culver City and Silicon Beach, home to Apple, Google, Facebook, Sony Pictures, ONE Culver, Smashbox Studios, and Beats by DRE.
The 10 homes are geared toward tech entrepreneurs looking for a quick commute to work on one of the many creative campuses on L.A.’s Westside. The homes offer light-filled interiors, modern amenities, direct-entry garages, private entrances, and rooftop terraces. The master suite features a balcony with hillside views and a custom walk-in closet. Select floor plans have private ground-level yards. The project was completed and launched in August. It’s listed By Boni Bryant and Joe Reichling of Compass.
Number of Homes: 10
Price Range: $1.275 million to $1.375 million
Developer/architect: P Joseph Development/Modative
Sizes: 1,820 to 2,076 square feet with three bedrooms, three full bathrooms and one partial bathroom
Amenities: The garages are ready for Teslas, with 240-volt charging stations.
Website: national10.com
Source: Bill Cary, Mansion Global
© Jackson Lieblein, LLC 2015.
