West Hollywood Penthouse Scores $23 Million

A West Hollywood penthouse sale marked the priciest condominium trade of 2026 to date for all of Los Angeles County.

Penthouse West at 8899 Beverly Boulevard went for $23 million — about 67 percent higher than the previous highwater marker for the year among on-market deals. The price shakes out to $3,150 per square foot. The deal easily topped the prior leader for the year — the March sale of a condo at 1 West Century Drive in Century City that went for $13.8 million, or $2,455 per square foot.

Looping in off-market deals, this week’s trade still holds the trophy but by a smaller margin. Another unit at 8899 Beverly Boulevard sold off-market for $18.8 million in April.

Despite its record sale price, the Penthouse West deal came in about 16 percent below its original $27.5 million ask in 2024, and much lower than 2025’s record condo sale price of $39.1 million for another penthouse at 1 West Century Drive.

This year has not been favorable to the region’s condo landscape, with condo prices throughout Southern California down 6 percent year-over-year in February, the most recent data available for the broader region. That’s the sharpest drop in 14 years, but even with lower pricing, buyers don’t appear drawn to the condo market. There were nearly 3,000 condo trades in Southern California in February, which marked the third slowest monthly sales volume for that time of year since 2005.

Redeavor Group’s Michelle Montany, whose heading up sales at 8899 Beverly, said she’s seen a turnaround in recent weeks.

“It feels like somebody pushed a button and the buyers came back,” she said.

While condo recovery is yet to reach full force, developers are pursuing townhome construction. Storm Properties filed plans to convert an abandoned school site in Baldwill Hills into a 104-townhome community. And Lior Mandelbaum of Mandelbaum & Associates is looking to subdivide a single-family lot in Northridge to build 16 townhomes next to an existing single-family residence.

Mansion pulse

Several Westside mansions entered and exited the market this week.

A more than 5,500-square-foot home in Beverly Hills traded for $21.5 million. The seller, “Maleficent” and “F9” film producer Joe Roth, listed the home for $22 million in April, the same day he offloaded another L.A. property — 111 North Mapleton Drive in Holmby Hills — for $22.3 million.

Westside Estate Agency’s Kurt Rappaport held the listing on the Beverly Hills home, which was designed by architect Daniel Dworsky. The undisclosed buyer was represented by the Beverly Hills Estates’ Rayni and Branden Williams.

Based on the Eklund Gomes report — which is compiled by Marcy Roth of Douglas Elliman and counts properties listed in the Multiple Listing Service at $4 million or more — signed contract activity this past week took a hit both in numbers of deals going into contract as well as overall asking volume.

Over in Brentwood, another home with a Hollywood pedigree hit the market with a roughly $16.5 million asking price. Commissioned by Oscar-winning screenwriter Tom Schulman and designed by award-winning architect Steven Ehrlich, the home at 645 Tuallitan Road spans 9,000 square feet and has two residential wings with six bedrooms in total. The “Dead Poets Society” writer sold the home in 2014 for $10.5 million to architectural preservationist Michael LaFetra, who limited alterations on the home to basic infrastructure improvements.

Douglas Elliman’s Cory Weiss holds the listing and pointed to the home’s 1.3-acre lot as a “statement piece.”

Rent restrictions up in flames

One day after the Sandy Fire erupted on Monday in Simi Valley — which as of Friday had burned more than 2,100 acres and was 40 percent contained — the Los Angeles County Board of Supervisors made a series of moves related to the January 2025 wildfires.

The board stuck with allowing its countywide rent gouging restrictions to expire May 29, which will give landlords freedom to raise rents more than 10 percent above pre-fire advertised levels. Supervisors Lindsey Horvath and Hilda Solis voted in favor of extending the restrictions, while Kathryn Barger, Janice Hahn and Holly Mitchell abstained. Rules governing the Board of Supervisors require a minimum of three votes from the five-person board for a motion to pass.

The intention of the initial freeze was to protect fire victims from drastic price increases due to heightened demand, as thousands of residents were displaced post fires. Yet, landlords have pushed back.

During the Tuesday meeting, Jesus Rojas of the Apartment Association of Greater Los Angeles asserted that the restrictions are “wrongfully being used to harm thousands of rental housing providers throughout the entire county.”

In a separate vote, the board established what it’s calling the “Los Angeles County Disaster Recovery Rebuild Authority” to assist in rebuilding efforts in unincorporated areas impacted by the Palisades and Eaton fires.

Priorities for the authority will be “cutting through red tape, accelerating the rebuilding of public infrastructure and making sure every dollar of local, state and federal funding available is put to work for the families and communities still struggling to return home,” Barger said. This will include spearheading coordination on permitting, infrastructure restoration and funding deployment.