Luxury Penthouse Condo Sells for $15M

By Anuradha Kher, Online News EditorCentury City, Calif.–Related, a real estate development firm based in New York, has unveiled it plans for the Century Los Angeles, a 42-story luxury condominium building located in Century City, Calif.The building, designed by Robert A.M. Stern Architects LLP, is currently under construction and will be ready for occupancy in 2009, but has already sold its penthouse for $15 million, or more than $2,700 per sq. ft. “Wealthy Los Angeles buyers who have purchased multiple homes in Montecito, Malibu, New York, Aspen and other destinations, have found they can still have the Los Angeles lifestyle while also gaining resort-like services and amenities,” says David Wine, vice chairman of Related.The Penthouse, which was bought by a Los Angeles resident, features more than 5,000 sq. ft. and three terraces totaling an additional 647 sq. ft. The three-bedroom condominium features a private elevator vestibule and a chef’s kitchen, formal dining room, and a layout like a single-family home. Other features include a spacious master bedroom suite with a library and a midnight kitchen as well as his and her bathrooms and dressing areas. The condominium building has a signature restaurant with service to each home and to the cabanas at the pool. Susan de França, president of Related Sales, says, “When designing The Century, we envisioned so much more than a luxury building, but a completely new alternative to other condominiums previously built in Los Angeles.”Other amenities at the Century’s 140 residences include a private, landscaped estate garden featuring outdoor entertaining rooms with fireplaces, fountains and walking paths.