8899 Beverly, one of Los Angeles’ most luxurious new residential buildings, has been making headlines recently. Just days ago, actor Matt Damon purchased a two-bedroom pied-a-terre on the building’s fourth floor for $8.6 million, one level below the new $9 million condo of Comcast CEO Brian Roberts.
The travertine terrace is separated from the indoors by retractable walls of glass.
Now, it’s been announced that the development, completed in 2022 and designed by the prestigious architectural firm Olson Kundig, is one of Southern California’s highest-priced condo sales in years. The Penthouse East, situated on the building’s top floor, has been sold for $24 million, marking one of the highest prices ever paid in a Los Angeles condo complex. This unit, boasting unobstructed views of the city and mountains, features four bedrooms and five bathrooms within just under 6,500 square feet of living space.
With walls of glass and 14-foot ceilings, the living spaces are light and bright throughout.
Notably, the highest-priced condo sale in Los Angeles history occurred nearly 15 years ago, when Candy Spelling acquired her mansion-sized duplex penthouse at The Century building for $35 million, boasting over 15,000 square feet of living space.
The primary bathroom offers a freestanding soaking tub and direct access to the terrace.
Although the individuals involved in the sale of 8899 Beverly declined to reveal the buyer’s identity, public records suggest that the new owner is Tom Coates, a relatively low-profile San Francisco businessman serving as a managing director at Jackson Square Properties, a real estate firm with numerous apartment complexes and mobile home communities across Northern and Southern California.
There are unobstructed views of the mountains and city lights.
Coates’s new residence is a showcase of exquisite craftsmanship, featuring 14-foot ceilings adorned with custom wood paneling and meticulous design. Imported floor-to-ceiling glass walls with sliding panels seamlessly blend indoor and outdoor spaces, while the 2,000-square-foot wraparound terrace boasts Italian travertine cladding. The state-of-the-art kitchen showcases premium cabinetry and appliances, and the unit includes a separate entrance and “service corridor” for the owner’s staff and vendors, according to the listing.
A high-end kitchen features custom cabinetry and appliances.
The penthouse comes with monthly HOA dues of $11,295, encompassing deluxe amenities such as 24/7 concierge and valet services, a state-of-the-art gym, and outdoor facilities like a swimming pool, spa, fireplaces, and a kitchen. Additionally, Stella West Hollywood, an upscale Italian restaurant, is located on-site, and the development is conveniently close to numerous other dining and shopping options, with Beverly Hills just a five-minute drive away.
The dining area can easily seat 14.
The 8899 Beverly development features 40 luxurious condos starting at approximately $5 million each. Additionally, the building’s ground floor accommodates 15 affordable-housing rental residences, with monthly rents set at market rates.
The unit also features bespoke decor.
The listing was managed by Michelle Montany and Taaseen Qureshi of The Agency New Development, while Mauricio Umansky of The Agency represented the buyer.
The primary bedroom features custom wood paneling.
Outside, views stretch for miles.
The penthouse spans the eastern side of the building’s top floor.