Live-in Luxury
Hotel-branded residences offer resort amenities for condo buyers
Los Angeles area homebuyers can partake in a luxury resort lifestyle every day. High-end hospitality companies offer luster and perks to real estate seekers, from Rancho Palos Verdes overlooking the Pacific, to West Hollywood’s Sunset Boulevard, to the heart of Beverly Hills or downtown.
These developments allow homeowners to check into upscale digs with numerous hotel-like services without the need to check out. Among those are the Ritz-carlton Los Angeles and Montage Residences (now the Maybourne), which lead the trend of high-end permanent living within hotels. Newer players include the stand-alone Rosewood Residences (occupancy at the end of 2024) and Mandarin Oriental Residences, both in Beverly Hills — but with no hotels on site. Others such as the Pendry Residences in West Hollywood and Terranea in Rancho Palos Verdes are steps away from their namesake hotels. According to the Rubyhome Luxury Real Estate website, more than 65 of these premium condominiums are on the market across the L.A. basin.
“The DNA of the brand is service-orientated,” explains Tomer Fridman of the “estate-comparable” Rosewood Residences. “These were not designed as pied-à-terre; these were designed as estate alternatives,” he explains of the 17 units, located off Little Santa Monica at Charleville Boulevard in Beverly Hills’ famed Golden Triangle. Fridman and partner Sally Forster Jones, of real estate firm Jones Fridman International at Compass, are representing the properties.
The expansive floor plans, ranging from approximately 3,000 to 7,500 square feet, include double-island kitchens and outdoor spaces. Pricing starts at $10 million up to $45 million for penthouse residences; six have their own pools.
A 24-hour valet, front desk and security are among the full-service benefits. Additionally, owners will receive VIP treatment at Rosewood Hotel & Resort properties in 20 countries including Las Ventanas al Paraiso in Los Cabos, Mexico; the Rosewood Miramar Beach in Montecito; and the Carlyle in New York City. Fridman finds entertainment business buyers often expect a heightened caliber of service when travelling.
Michael Shvo, real estate developer and chairman and CEO of SHVO, says the 54 turnkey residences at the Mandarin Oriental Residences, Beverly Hills, offer a major difference: Because there’s no hotel component, the rooftop pool and lounge, full-time concierge and other conveniences (such as on-site dining at Boulud Prive by star chef Daniel Boulud) are dedicated to residents only. “People are really focused on privacy and security,” he says.
“The supply of new luxury product is extremely scarce,” Shvo says of Beverly Hills’ housing market. The ground-up build on Wilshire Blvd. was seven years in the making. Current pricing for one-bedroom units start at $2.975 million.
Full service is also the draw at the Fairmont Residences Century Plaza/park Elm, where 40 residences are available for longer term leasing and have their own set of private elevators. “The extra layers of security are a driver,” says sales director Cory Weiss. “We have a lot of residents move in because of security issues in their single-family homes.”
Views and floor plans designed for entertaining have impressed showbiz buyers at the Pendry Residences, says director of sales Leo Medeiros. Full hospitality services, from valet to in-room dining, are calculated into the homeowners association fees, which average $2.50 per square foot per month, on par with other buildings tied to a hotel, says Medeiros.
Regardless of costs, hotel-branded residences have proven popular. At the Terranea resort on the Palos Verdes Peninsula, the fully outfitted villas and casitas rarely come up for re-sale. But currently, a three-bedroom, 2,800- square-foot unit is listed for $3.45 million.
More projects are to come: the Aman Beverly Hills will have branded residences and an ultra-posh all-suite hotel at One Beverly Hills, while up to 60 units are under review and in the planning process as part of the proposed redevelopment of the Miramar Santa Monica (now the Fairmont Miramar Hotel & Bungalows).