Ultra-high net worth individuals are turning to branded residences more often than ever before as their choice of accommodations for their primary or vacation homes.
As branded residences continue to resonate with the ultra-high net worth individual (UHNW) globetrotter community, super luxury boutique condos are hitting the market with price points starting in the tens of millions of dollars and operating as de facto private clubs. Examples include 125 Perry Street, New York City, a conversion of a former parking garage in the West Village, and The Surrey Residences on top of the famed UES hotel, with only 14 homes.
This can be experienced at the Rosewood Residences Beverly Hills, the luxurious Rosewood hotel brand’s first standalone condominium residences in California, and the first Rosewood branded residence to open in the United States, developed by Nahla Capital and GPI Companies. At only 17 residences, it’s one of the most exclusive offerings in tony Beverly Hills. Ranging from 3,000 to over 7,000 square feet, all homes feature direct elevator access, large entry foyers and over-sized kitchens with double islands boasting custom millwork. Prices range from $10 million to $45 million.
Rosewood Residences Beverly Hills will be exclusively managed by a Rosewood Residential Team that oversees every aspect of the property’s luxury service offerings, with bespoke concierge and VIP services. Compass Development Marketing Group, in partnership with Jones Fridman International, leads sales for the property.
The timing comes on the heels of the LA “Mansion Tax.” In November, 2022 Los Angeles voters approved The United to House LA measure establishing a new Homelessness and Housing Solutions Tax, often referred to as the “Mansion Tax.” The Measure imposes additional taxes on high-value property transactions to fund projects and programs that address homelessness in Los Angeles. The tax has reportedly contributed to a decline in property sales across various sectors due to the added cost burden imposed by the tax, which may be dissuading higher-end potential buyers.
The measure – that brought 4-5% taxes to all property sales above $5 million – has been much derided by the real estate industry. However, the independent LA County cities like Beverly Hills and Malibu have become more desirable since the tax does not apply to them. As new ultra-luxury condos debut, it could be a market maker for the “Golden Triangle” (directly in between the Peninsula, Beverly Hilton and Waldorf Astoria) unaffected by the Mansion Tax.
Rosewood Residences Beverly Hills brings a unique offering to this iconic location, perfectly positioned at the center of one of the world’s most sought-after and recognizable neighborhoods. With homes that rival the most beautiful estates in Beverly Hills, every aspect of this development has been meticulously considered to suit the needs of the world’s most perceptive and discerning buyers.
Sally Forster Jones of Jones Fridman International, who is handling sales with Compass Development Marketing Group, says, “With homes that act as estate alternatives to rival and exceed the most beautiful properties in Beverly Hills, the ideal resident at Rosewood Residences Beverly Hills sees their home as a true sanctuary. It’s a home where privacy and security are paramount yet still perfectly positioned at the center of Beverly Hills, one of the world’s most sought-after and recognizable neighborhoods. They also want the ease and convenience of a dedicated concierge team that oversees every aspect of the luxury service offerings woven into their daily life without sacrificing the comforts of home.”
Thomas Juul-Hansen, LLC designed the homes with lavish proportions, welcoming layouts and design elements that transform these residences into true estate homes. Expansive terraces take advantage of Beverly Hills’ ideal year-round weather. Six residences feature private pools with spas, substantial terraces for alfresco entertaining and outdoor kitchens. Many residences include indoor and outdoor fireplaces, wet bars, ample wine storage, butler’s pantries and mudroom/laundry rooms accessed by a discrete service elevator.
Generously sized bedroom suites are tucked away for privacy and seclusion, accompanied by enormous walk-in closets. Primary bathrooms include twin vanities as well as dual water closets, underfloor heating and a striking hand-finished cast iron soaking tub. Bathrooms resemble spa-like refuges, lined in hand-selected stone, and vanities are carved from a single slab of marble. Floors are lined in wide-plank white oak and walls are finished in Venetian plaster. Homes also feature custom hardware and the finest appliances and fixtures.
Amenities are akin to staying at a fine resort. Residents enjoy the use of a 50-foot rooftop pool and spa overlooking Beverly Hills. The fitness center offers state-of-the-art equipment and personal training services with exceptional views and natural light. Indoor and outdoor kitchens and dining areas and a bar and lounge with a double-sided feature fireplace may be reserved for private functions — allowing for rooftop entertaining with sweeping views over the city.
“Every aspect of Rosewood Residences Beverly Hills has been meticulously considered to suit the needs of perceptive and discerning buyers who are VIPs at the world’s most luxurious resorts,” says Genghis Hadi, Managing Principal & Co-Founder at Nahla Capital. “The result is a living experience ideal for those who seek the amenities, lifestyle and aesthetic of an ultra-luxury hotel elevated with superb service from a dedicated Rosewood onsite team. Investing in a luxury condo offers more than just a place to stay. It’s a personalized retreat that appreciates over time. Unlike a high-end hotel, a condo provides a stable asset and a unique home where every detail is tailored to your taste with the utmost security and discretion. In Beverly Hills, it’s not just about luxury, it’s about owning a piece of it.”
