Feature: Looking Up
November 1, 2007
The curvy glass building, modeled after a rock in a stream, will have 35 units—ranging in size from 450 to 2,800 square feet (priced from $870,000 to $12 million). In addition to a fitness club with spa treatment rooms, One Jackson Square will boast a green, vegetated roof that doubles as a bird and butterfly habitat and as a buffer to keep the building cooler. Other projects throughout the city tout such unique amenities as rooftop dog runs, arcades with golf simulators and programs that cater to oenophiles. "It’s the same concept as living in a golf community," says Ponte.
For those who must have that Central Park view and the prestige
that comes with it, the 26 residences at 995 Fifth Avenue on the Upper East Side
feature prewar style and the necessities for proper entertaining, including
butler’s pantries, formal dining rooms and spacious living rooms. The 4,200- to
8,400-square-foot homes (priced from $12 million) have quick access to the park,
museums and private schools, as well as the services of a sommelier, personal
trainer and private spa.
In Los Angeles, buyers look to the Wilshire corridor when they want privacy,
luxury and location. The Richard Meier–designed 9900 Wilshire, whose development
and design will be overseen by London-based Candy and Candy, will deliver all
three and tug at buyers’ environmental conscience. Subject to approval by the
Beverly Hills city council and scheduled to be the first LEED gold–certified property of its kind in the western United
States, 9900 Wilshire will include 252 one- and two-story condominium and loft
residences (ranging in size from 1,200 to 7,000 square feet) set in two 12-story
towers and two four-story loft buildings. The project is designed to consume 50
percent less water and 25 percent less energy, as well as emit fewer greenhouse
gases than comparable buildings. Two-thirds of the eight-acre site will be
dedicated to open space and landscaped gardens that will include waterscapes and
sculptures.
The "green" at the 22-story 1200 Club View tower comes in the form of unobstructed views of park land at the Los Angeles Country Club. The 35 full- and half-floor residences (priced from $5 million) range in size from approximately 4,100 to 8,300 square feet. "We are secure, exclusive and somewhat low-key," says Tim O’Brien, senior vice president and principal for Fifield, the developer. Although 1200 Club View sits on Wilshire Boulevard, its entrance is on the quieter Club View Drive.
O’Brien believes the project—which he says will have a large staff as well as service on the level of the Peninsula Hotel, catering to its smattering of residents—will appeal to an international audience. "Sophisticated high-end buyers have a long-term view of real estate," he says. "In Los Angeles, well-located high-end properties are selling and are not affected by the current market conditions."
"These buyers don’t flinch at $3,000 per square foot, provided
they are getting quality for their money as well as security and amenities,"
says Richard Maslan, marketing director for Hilton and Hyland, a Beverly
Hills–based Christie’s Great Estates affiliate. He expects the residences at the
Montage Beverly Hills to garner $5,000 per square foot. Scheduled to open in
2008, the property will feature a luxury hotel and spa akin to their flagship in
Laguna Beach, as well as residences. "This is the first hotel in Beverly Hills
with residences, and it’s limited to only 20," says Maslan. To make matters more
competitive, he says that sales are not expected to officially begin until the
project is complete. "They are taking inquiries, but if you are serious, you can
always make an offer."
International Marketplace
Backed by a fleet of PDA-touting butlers, the St. Regis is opening several new international properties in 2008. Situated along the majestic Pacific Ocean on Playa Coyol, the St. Regis Costa Rica will have 51 hotel condominium residences (priced from $800,000 to $3.15 million) and 108 whole-ownership residences, including four 7,000-square-foot estate homes. All homes will include plunge pools, oversize terraces and owner access to the 135-room hotel’s Remède Spa. In Bali, a 79-suite hotel will be boosted by 55 condo hotel units (priced from $700,000 to $2.3 million). Set on a 4,400-foot stretch of sugary beach, Temenos Anguilla will feature 115 residences (priced from $1.4 million to $13.2 million) with a Greg Norman golf course, an optional rental program and a 120-room resort and spa. www.stregisresidences.com
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