I have already preselected the house, so I am looking for the closest match. The winner and 1 friend or spouse gets dinner and drinks on me at SUR Lounge in West Hollywood..
Out of all the buildings in Beverly Hills, one of my absolute favorites is 9601 Charleville Blvd. Located on the corner of Charleville and Peck (behind Barney’s), this development is the epitome of simple, refined elegance. This recently done condo conversion was executed by one of my personal heroes of the development world, Lyn Konheim of Buckeye Properties in Beverly Hills. Lyn has a knack for classic sophistication and it is easy to recognize his thumbprints on various multi family dwellings peppered throughout the city (Rodeo and Charleville is another stunning example of his aesthetic).What also makes this building so special is that in tandem with Lyn Konheim, Waldo Fernandez did the interiors. Fernandez designed the West Hollywood SoHo House and has done numerous architecturally significant celebrity estate. The juxtaposition between these two visionaries has rendered one of the most refined and elegant condominium buildings in Beverly Hills.
As soon as a unit became available 2 years ago at a killer price, I flew a client of mine in from Canada who snapped it up immediately as an investment property. Within roughly 8 days of close, we had what’s now been almost a 2 year tenant in the unit. She was only planning on a year, but loved it so much she held on to it until now. The unit will be be vacant by Feb 15th, 2013 and ready for occupancy immediately after that.
For those interested in checking out the unit or have questions about finding similar investments, I will be holding an open house/exclusive neighbor meet & greet February 17th, 2013 from 1-4pm.
9601 Charleville Blvd, Unit #6, Beverly Hills CA 90212: Lease: $2600/month – Approximate Square Footage: 510 sq ft
Available after Feb 16th, 2013 – Please contact me directly: 310-699-9583 or matt@richkidsrealestate.com
Prime Beverly Hills studio located in the famed 9601 Charleville building. The building has recently gone through an extensive remodel and renovation designed by architect Peter Choate and world renowned designer Waldo Fernandez (responsible for the interiors of West Hollywood’s exclusive SoHo House). Charleville boasts traditional layouts, a rooftop garden, and a classic yet modern aesthetic with the finest materials and details. This light, airy unit features gleaming, dark hardwood floors, thick/ornate crown molding, recessed lighting, and floor to ceiling French doors that open to a balcony. A cook’s kitchen features blue marble counter tops and full Viking appliance package. Rounding out the unit is a sumptuous master bath with Carrara marble, an in unit Miele stackable washer & dryer, huge storage space, and massive built out walk in closet. A quick walk to Barney’s, Saks, Equinox (formerly Sports Club LA Beverly Hills), and all the best of BH. Parking spot+ elegant wood storage locker with brass unit number plate.
Out of all the buildings in Beverly Hills, one of my absolute favorites is 9601 Charleville Blvd. Located on the corner of Charleville and Peck (behind Barney’s), this development is the epitome of simple, refined elegance. This recently done condo conversion was executed by one of my personal heroes of the development world, Lyn Konheim of Buckeye Properties in Beverly Hills. Lyn has a knack for classic sophistication and it is easy to recognize his thumbprints on various multi family dwellings peppered throughout the city (Rodeo and Charleville is another stunning example of his aesthetic).What also makes this building so special is that in tandem with Lyn Konheim, Waldo Fernandez did the interiors. Fernandez designed the West Hollywood SoHo House and has done numerous architecturally significant celebrity estate. The juxtaposition between these two visionaries has rendered one of the most refined and elegant condominium buildings in Beverly Hills.
As soon as a unit became available 2 years ago at a killer price, I flew a client of mine in from Canada who snapped it up immediately as an investment property. Within roughly 8 days of close, we had what’s now been almost a 2 year tenant in the unit. She was only planning on a year, but loved it so much she held on to it until now. The unit will be be vacant by Feb 15th, 2013 and ready for occupancy immediately after that.
For those interested in checking out the unit or have questions about finding similar investments, I will be holding an open house/exclusive neighbor meet & greet February 17th, 2013 from 1-4pm.
9601 Charleville Blvd, Unit #6, Beverly Hills CA 90212: Lease: $2600/month – Approximate Square Footage: 510 sq ft
Available after Feb 16th, 2013 – Please contact me directly: 310-699-9583 or matt@richkidsrealestate.com
Prime Beverly Hills studio located in the famed 9601 Charleville building. The building has recently gone through an extensive remodel and renovation designed by architect Peter Choate and world renowned designer Waldo Fernandez (responsible for the interiors of West Hollywood’s exclusive SoHo House). Charleville boasts traditional layouts, a rooftop garden, and a classic yet modern aesthetic with the finest materials and details. This light, airy unit features gleaming, dark hardwood floors, thick/ornate crown molding, recessed lighting, and floor to ceiling French doors that open to a balcony. A cook’s kitchen features blue marble counter tops and full Viking appliance package. Rounding out the unit is a sumptuous master bath with Carrara marble, an in unit Miele stackable washer & dryer, huge storage space, and massive built out walk in closet. A quick walk to Barney’s, Saks, Equinox (formerly Sports Club LA Beverly Hills), and all the best of BH. Parking spot+ elegant wood storage locker with brass unit number plate.
As we have been slowly unveiling the various additions to the revamped Rich Kids Real Estate site, there is a constant theme with our newest incarnation: service, service, and more service. Anyone who has had the opportunity to work with Rich Kids Real Estate knows that we are an extremely hands on brokerage. When looking to the future, I realized that this wasn’t good enough. I wanted to provide an even more personalized experience and be able to offer more than any other agent out there.
With that said, I want to welcome you to Rich Kids Rentals: A Premium Concierge Leasing Service. Whether you are relocating from another city or simply looking for a new space, Rich Kids Rentals is here to make the transition as smooth and effortless as possible.
Often lessees want to retain an agent to assist in their house hunt, but find that the limited options that are available to them through the multiple listings service (MLS) rather discouraging. Because brokerages typically rely solely on this resource to find lease properties, clients can become quickly frustrated due to the lack of suitable inventory in all price points.
Rich Kids Rentals clients have access to a wide selection of property through a number of different listing sources including the MLS. By seamlessly integrating our clients distinct lifestyle choices with their specific housing criteria, we work together to create the ultimate in fine living.
Some of the unique features of the Rich Kids Rentals Program Include:
- Lease properties can be procured from any source: Listing Services, Craigslist, Broker MLS, Drive By Signs…basically any and all resources including properties you wish to investigate.
- At your request, in depth neighborhood and lifestyle tours can be included. Being new to a city like Los angeles can be a bit overwhelming. While we hunt for the perfect home, we can also incorporate the desired lifestyle to go with it.
- Negotiations and paperwork completion on all broker listed properties.
- Contract review and guidance for all non broker affiliated properties.
- Moving and packing Recommendations.
- Reference guide for quick and easy utility set up specific to property location.
For further details on Rich Kids Rentals, please visit the Rich Kids Real Estate Website.
New Years Eve in London – Trafalgar Square
First and foremost, I want to wish everyone a very Happy New Year! I hope it was a nice and relaxing holiday for all! I know I am very excited about what 2013 has in store for all of us. I am pumped and ready to go! Hold on to your hats because this is going to be a long post!
December was a busy month for Rich Kids Real Estate! I have been finding that I have a lot of clientele who have been looking for property both in LA as well as in NYC. On a quest to be able to offer the world on a silver platter to the people I am lucky enough to work with, I opted to take my New York State broker’s exam. It required 30 hours of additional course work on top of the 300 plus hours of education I have already accrued as CA broker state broker. I literally flew into the city for 2 days to take a proctored class exam for the course work as well as the actual state brokers exam. As I was rushing from downtown to midtown to complete both exams in one day, the woman at the NY Real Estate Institute (realtor school) looked up at me and in all sincerity asked, “Are you on some sort of suicide mission?” Nope! This is just how we roll at Rich Kids Real Estate, we just keep raising the bar (looking like death warmed over and having had little sleep studying, I didn’t really say that but I was thinking it)! Suffice it to say, I passed both tests on the first time and am now in the process of being a licensed NY State Broker. I believe I may be the only (or one of the very few) dually licensed brokers in Beverly Hills (I would say almost 100% I am the only one for my age). It was the last major goal I had for 2012. I have to say, I am quite excited to have achieved this!
View from NYC apartment my friend and neighbor was kind enough to lend me fore the exam.
Side note: A lot of agents will call themselves “brokers”, but there is a distinct difference between a real estate agent and a real estate broker. A real estate agent is an independent contractor who can sell real estate under the supervision of a licensed broker. Each real estate office will typically have one real estate broker to approve all documents from agents as well as a back up broker or “associate broker” to assist. Even the biggest top producers in the country are often real estate agents. A real estate broker can open their own real estate office such as Rich Kids Real Estate, hire real estate agents, and collect commissions. An agent cannot do this nor can they directly collect a commission. All commissions must be paid out to an agent via a broker. There also requires a much higher level of course work and testing to become a real estate broker vs. a real estate agent. When you get a broker who sells, you are getting the best of both worlds…that was a subtle personal plug 
Although outside Beverly Hills, I am pleased to announce the sale of 1400 North Hayworth! With the lack of inventory for investment or “starter” condos in 2012, I think it’s worth mentioning that there are some solid investment opportunities out there. This little condo is currently collecting $1700+ a month in rental income. It was an excellent way to wrap up 2012! Congrats to the new buyer and my sincerest gratitude to the sellers for offering the listing to Rich Kids when there were so many other agents up for the job.
Just Sold! 1400 North Hayworth #35, West Hollywood, CA 90046
List: $315,000, Sale: $287,500…Excellent Deal on Landmark Designated Property & Soon to Be Mills Act Property
Coming up on this weeks blog-eteria menu we have: “The New RK Rentals Concierge Leasing Program“, “The Most Expensive Address in the World: One Hyde Park”, “The Best New Listings of 2013 You Should Snap Up”, and finally, “How Does Hiring a Real Estate Agent Work Again?”.
Stay tuned and check your inbox for The Rich Kids Real Estate January Newsletter this Wednesday! If you are not on the mailing list, sign up! Don’t worry, you won’t be bombarded with useless e-blasts!
Equinox Beverly Hills
If you are new to town or looking for a gym to kick those upcoming new years resolutions into gear, I highly recommend Equinox Fitness. As Equinox rapidly continues on it’s path to to dominate the luxury global fitness market, it has recently (within the last 2 years) taken over a former LA institution: The Sports Club LA. I was a member of Sports Club for many years prior to Equinox taking over. While I miss the boutique and local vibe of the Sports Clubs (located in Beverly Hills, West LA, and Irvine in SoCal), they desperately needed to be brought back to life from their early 90′s glory days.
When Equinox took over, we got Kiehl’s products in all the locker room, cotton towels, and complete club overhauls to bring forth a modern, clean, sexy aesthetic. In addition, it now allows members access to all other Equinox Clubs worldwide for a fee of $225 month or you can stay local for around $175/month. If you want clean, full service fitness with no lines for equipment, these are the clubs to join.
Oliver – This is my go to place for lunch, dinner, and happy hour. Love the food and atmosphere.
Beverly Hills is located in the William Morris Endeavor building at 9601 Wilshire Blvd on the corner of Wilshire Blvd and Camden. The Beverly Hills Equinox has a smaller, boutique feeling with 2 floors of new equipment, cardio machines each with it’s own cable television, yoga studio, pilates located in a bank vault (club previously was a bank), and steam rooms in the locker rooms. I love the yoga and spin classes at Beverly Hills as well as the convenience. I can walk there from my home and especially on the weekends, it’s practically empty with the business crowd gone. I highly recommend Erin Kirk’s 7pm yoga classes on Tuesdays and Thursdays. It’s intense, never boring, and she is just amazing.
Equinox WLA Pool
(At present they are redoing the pool with a modern grey slate tile). Members: Pool closed December 15th-December 31 but you can swim at the Westwood and Manhattan Beach locations.
Equinox West LA is the flagship location and is spread out over 4 floors. Located about 2 miles west of Beverly Hills on Sepulveda, you will find: valet parking, a formal restaurant, newly built lounge w/fireplace, informal cafeteria, hair salon, basketball court, sun deck, racquet ball, paddle ball, indoor pool w/ individual lap lanes (this was the main reason I joined way back when), and locker rooms each equipped with dry sauna, steam room, and massive pool. I will go here usually 3-4 days a week and Beverly Hills the other 3 days.
Both facilities have Mario Oliver’s “Oliver” restaurant, which is my staple in Beverly Hills. It’s a very clean, modern, chic atmosphere is the perfect place to grab a great meal at a fantastic place. I think Oliver is one of the best deals in town in terms of $5 all evening happy hour cocktails, $5 appetizers, and a large menu selection. Mario Oliver, owner and local BH resident, injects a refined version of his former nightlife venues into his restaurants.
Check out my video sneak peak of the West LA location. This was done completely gonzo style at closing, so forgive the quality:
Highest Sale 2012: 1196 Cabrillo Drive, Beverly Hills, CA 90210
List Price: $49,000,000 | Sale Price: $36,500,000
9200 Sq Ft Home | 2 Guest Houses | Pool
- Just like South Beverly Hills 90211 and 90212, North Beverly Hills 90210 has seen growth from 2011 to 2012 which has been the trend for Beverly Hills as a whole, which is exciting. Let’s jump into the numbers and then we can take a look at the best deals and the priciest properties in the world’s most celebrated zip code!
Beverly Hills Homes, 90210: 2012
Number of units sold (to date): 110
Average days on the market – 124
Median sales price – $5,050,000
Highest sales price – $36,500,000 (Celebrity Sale)
Lowest sales price – $1,800,000 (I am not counting a home that sold for $1,585,000 on the 700 Block of N Doheny)
Average price per square foot – $977.29
Average interior square footage of residence – 6,388
Average lot size – 23,019
Differential in list price vs. selling price – 10.91% (on average, buyers are paying roughly 10.91% below what the property was listed)
Beverly Hills Homes, 9021o: 2011
Number of units sold – 99 (11 more sales in 2012)
Average days on the market – 115 (properties in 2012 stayed on the market 9 more days than 2011)
Median sales price – $5,402,744 (average price in 2011 was up $352,000 vs. 2012)
Highest sales price – $35,000,000 (highest sale for 2012 was up $1,500,000 at $36,500,000)
Lowest sales price – $1,892,000 (this property was a steal of a deal compared to the lowest priced home for 2012)
Average price per square foot – $1043.75 (2012 was 977.29)
Average interior square footage of residence – 5016 sq ft (2012 – average square footage up by over 1300 sq ft)
Average lot size – 22,736 (2012 - up 283 sq ft)
Differential in list price vs. selling price – 12.12% (on average, buyers are paying roughly 12.12% below what the property was listed for while this year that differential is at 10.91%)
What These Number are Telling Us
Highest Sale 2011: 1004 North Hillcrest Road, Beverly Hills, CA 90210
List Price: $42,000,000 | Sale Price: $35,000,000
10,000 Sq Ft Home | Pool | Explosive Views | Koi Pond
City View
What we are seeing transactionally is that we have 11 more homes to date closed than we did in 2011 with 10 in “Pending Status”. If even half of those close before the end of the year, it should bring our totals to 16 plus more sold than in 2011. Just like South Beverly Hills, the gap between list vs. sale tightened in 2012 showing us that seller’s are becoming more in tune with market value. With ultra luxury Beverly Hills estate properties, the differentials tend to be slightly larger. We are also seeing pricier homes selling this year vs. last with larger lot sizes and significantly more interior square footage. Another interesting aspect to point out is that currently there are 51 homes active on the market with the highest price home listed at $58,000,000. It’s nice to see a progression in the ultra high end market and I am hopeful that we continue this upwards trajectory that we are seeing across the board in Beverly Hills.
Fun Fact
The award for highest priced sale for 2012 goes to entertainment power couple Mrs. and Mrs. De Rossi – Degeneres. Portia De Rossi and Ellen Degeneres were smart in their strategy to buy up every single property available on Cabrillo Drive located in the ultra hip (forgive the word “hip” I was running out of synonyms for cool and I couldn’t use “trendy” which I hate/just not applicable) Trousdale Estates section Beverly Hills. Known for it’s sweeping views and chic mid century architecture, Trousdale Estates provides the perfect synergy between Hollywood Hills cool and Beverly Hills cache. I can recall them buying each home and then adding it to their compound over the years to create a 9200 sq ft main house, with 2 smaller, but substantial guest houses (roughly 3500 sq ft each) spread over a 124,960 sq ft lot making Cabrillo Drive it’s very own private street within the City of Beverly Hills. It was quite the buzz around town as they were doing this. To be visionaries in real estate, entertainment, social issues, and now real estate – color me impressed! Well done, ladies!
The Bottom Line
With it’s premium location, wonderful City ammenties, and international appeal Beverly Hills continues to be a fantastic investment for home buyers in all price points. At the commencement of 2013 we can revisit to see exactly home many “Pending” sales closed and how many of the 50 active remain on the market.
Lowest Sale 2012 (N of SM Blvd): 1234 Lago Vista Drive, Beverly Hills, CA 90210
List Price: $2,785,000 | Sale Price: $2,580,000
3481 Sq Ft | Needs Updating | Pool
Exterior
Side Note: I consider the heart of the 90210 flats to start North of Santa Monica with a 500 block or higher street address. While 90210 technically starts north of Wilshire and certainly with plenty of lovely homes adjacent to the retail district, I wanted to draw a distinction between North and South of Santa Monica Blvd when it came to least expensive homes which is noted in the photographs. This is not inclusive of Beverly Hills Post Office. While BHPO shares a north of Sunset locale and a 90210 zip code it is the City of Los Angeles. BHPO does not benefit from the Beverly Hills School System nor city services (give or take a random assortment of properties that were annexed in). This includes mega mansion subdivisions like (one of my real estate idols) Brian Adler’s Beverly Park North and South as well at The Summit.
Check out my neighborhood pages dedicated solely to life in Beverly Hills:
www.90210homesforsale.com & www.southbeverlyhillshomes.com
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- Lowest Sale 2011 (N of SM Blvd): 1100 Summit Drive, Beverly Hills, CA 90210 List Price: $2,285,000 | Sale Price: $1,892,000 Steal of a Deal | Great Location Size | 3463 Sq Ft | Pool Exterior | Needs TLC
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- Lowest Sale 2011 (S of SM Blvd): 143 North Rexford Drive, Beverly Hills, CA 90210 List Price: $1,850,000 | Sale Price: $1,475,000 1714 Sq Ft | Needs Updating | Backs Commercial
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- Lowest Sale 2012 (N of SM Blvd): 1234 Lago Vista Drive, Beverly Hills, CA 90210 List Price: $2,785,000 | Sale Price: $2,580,000 3481 Sq Ft | Needs Updating | Pool Exterior
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- Lowest Sale 2012 (N of SM Blvd): 1234 Lago Vista Drive, Beverly Hills, CA 90210 List Price: $2,785,000 | Sale Price: $2,580,000 3481 Sq Ft | Needs Updating | Pool Interior
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- Lowest Sale 2012 (S of SM Blvd): 108 North Palm Drive, Beverly Hills, CA 90210 List Price: $1,895,000 | Sale Price: $1,800,000 Spanish Charmer | 2,249 Sq Ft | Pride of Ownership Exterior
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- Lowest Sale 2012 (S of SM Blvd): 108 North Palm Drive, Beverly Hills, CA 90210 List Price: $1,895,000 | Sale Price: $1,800,000 Spanish Charmer | 2,249 Sq Ft | Pride of Ownership Living Room
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- Highest Sale 2011: 1004 North Hillcrest Road, Beverly Hills, CA 90210 List Price: $42,000,000 | Sale Price: $35,000,000 10,000 Sq Ft Home | Pool | Explosive Views | Koi Pond Exterior
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- Highest Sale 2011: 1004 North Hillcrest Road, Beverly Hills, CA 90210 List Price: $42,000,000 | Sale Price: $35,000,000 10,000 Sq Ft Home | Pool | Explosive Views | Koi Pond City View
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- Highest Active Listing 2012: 904 North Crescent Drive, Beverly Hills, CA 90210 List Price: $58,000,000 | Days on Market: 155 | Built in 2012 48,000 Sq Ft Home | Indoor and Outdoor Pool | Ballroom
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- Highest Active Listing 2012: 904 North Crescent Drive, Beverly Hills, CA 90210 List Price: $58,000,000 | Days on Market: 155 | Built in 2012 48,000 Sq Ft Home | Indoor and Outdoor Pool | Ballroom Indoor Pool | Spa
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- Highest Sale 2012: 1196 Cabrillo Drive, Beverly Hills, CA 90210 List Price: $49,000,000 | Sale Price: $36,500,000 9200 Sq Ft Home | 2 Guest Houses | Pool Yard
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- Highest Sale 2012: 1196 Cabrillo Drive, Beverly Hills, CA 90210 List Price: $49,000,000 | Sale Price: $36,500,000 9200 Sq Ft Home | 2 Guest Houses | Pool
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- Highest Sale 2012: 1196 Cabrillo Drive, Beverly Hills, CA 90210 List Price: $49,000,000 | Sale Price: $36,500,000 9200 Sq Ft Home | 2 Guest Houses | Pool Billiards
I wanted to extend my sincerest gratitude my friends and neighbors in the Beverly Hills community. We raised over a $1000 in cash donations and about 50 inches of donated hair to benefit Locks of Love (www.locksoflove.org). With the holiday season upon us, I was touched that people were able to set aside during this hectic period to help out an amazing cause!
A HUGE thank you to Florent Merle and his team at The Joseph Martin Salon on Canon for coming in not only on their day off, but also rallying after the salon’s winter holiday party the night before.
beverly hills chop, south beverly hills, south beverly hills homes, beverly hills real estate, locks of love, 90210, 90211, 90212, beverly hills community, matt sweeney, matthew b. sweeney, rich kids real estate, rich kids tv, beverly hills realtor, beverly hills real estate specialist
Highest Sale 2012: 247 South Roxbury Drive, Beverly Hills, CA 90212 – $3,399,000
3930 sq ft | 7680 sq ft lot | Pool | Designated Beverly Hills Design Award 2008
- Our first installment of the Market Recap 2012 was all about 90211. What got me excited was that for 2012, homes were larger, the sales were bigger, and the we were up about $700,000 in terms of the priciest sale for the year. After just taking a brief glance at the data, it appears that there could be a similar situation in Beverly Hills, 90212. As a 90212 resident, let’s see how we did compared to 90211! Again, keep in mind that the year is not done yet and as of now there about 3 properties in either “Sale Pending” status or “Looking for Backup”.
Beverly Hills Homes, 90212: Year to Date 2012
Number of units sold – 19
Average days on the market – 34 (about 50 days less than 90211 which was an average of 86 days on market)
Median sales price – $1,901,750 (average for 90211 was $1,350,000)
Highest sales price – $3,399,000 (highest for 90211 was $1,350,000)
Lowest sales price – $1,220,000 (lowest for 90211 was $1,000,000)
Average price per square foot – $679.74/sq ft (90211 - 630.10/sq ft)
Average interior square footage of residence – 2953.79 sq ft (90211 - 2770.36 sq ft)
Average lot size – 6641 sq ft (90211 - 6,132 sq ft)
Differential in list price vs. selling price – .56% (on average, buyers are paying roughly .56% below what the property was listed for vs. 90211 at 3.06%)
Beverly Hills Homes, 90212: 2011
Number of units sold – 29 (90211 – 30)
Average days on the market – 82 (lateral with 90211 which had an average of 76 days on market)
Median sales price – $1,823,143 (average for 90211 was $1,240,000)
Highest sales price – $2,850,000 (highest for 90211 was $2,410,000)
Lowest sales price – $1,204,000 (lowest for 90211 was $800,000)
Average price per square foot – $623.58 (90211 – 600.87)
Average interior square footage of residence – 2919.56 sq ft (90211 – 2119.69 sq ft)
Average lot size – 6869.93 sq ft (90211 - 5762.93 sq ft)
Differential in list price vs. selling price – 7.4% (on average, buyers are paying roughly 7.4% below what the property was listed for while 90211 at this time was 4.89% differential)
What These Number are Telling Us
Lowest Sale 2012: 312 South Crescent Drive, Beverly Hills, CA 90212 – $1,220,000
1902 sq ft | 6070 sq ft lot | Just Recently Remodeled w/ Appealing Stone Facade
Now having gone through the numbers in greater detail, I am seeing a lot of interesting trends, especially when looking at sales in 90211 vs. 90212. Historically, 90212 has been and continues to be the pricier of the two zip codes in South Beverly Hills. This is due to larger lot sizes, homes with more substantial square footage, wider streets, and 90212 tends to stray less from the the original architecture of it’s properties keeping a more cohesive look. With that said, 90211 is nipping at the heels of 90212. It’s all relative, but I dare say I would qualify 90211 to have had a slightly stronger year than 90212. This is just my hypothesis, but what we are seeing now more than ever is new construction and/or add ons in 90211. 90212 (especially the south west flats) tend to have grander homes hovering around the 3000 sq ft area with larger lots. Through the years, 90211 was slowly been tearing down the 2000 sq ft ranch style homes and replacing them with large 2 story homes that rival their 90211 neighbors. I often jog starting from my street on Crescent Dr heading west on Charlville to Spaulding and then loop down to Gregory Way to Clark Drive on the way back home. Why am I giving you my jogging route, you might be wondering? Every day that I am out running, I am blown away by the number of new homes that are under constrcution or have just been built. You never know what you will see when you are out and about. I just noticed a new condo development under construction just north of Olympic in 90212 (a separate entry to follow on that soon).
Another interesting trend is that sellers in 90212 are pricing their properties for quick sale. There is literally a .56% differential in what sellers are listing vs. what the actual sale price is. I thought 90211 was doing well at 3.06%. This is clearly being reflected in the days on market which is a very quick 34 days compared 82 days in 2011 which large gap of 7.4% list/sale differential. If you want to flash back to the bleak days of the economic meltdown of fall 2008-2009, we were looking at about a 10-11% price differential for both zip codes and slightly higher even in 90210.
Bottom Line
Buyer’s are still dictating the market, but seller’s in 90212 are listening and taking action. I have also been working quite a bit with buyers in 90212 who are now empty nesters and simply do not want the upkeep on 3000-4500 sq ft home. Many of my buyers are opting to quickly sell their homes and then relocate to something half the size in 90211.
PS – Our award for priciest home goes to 247 S. Roxbury Drive, Beverly Hills, CA 90212 for $3,399,000. I have watched this house being remodeled over time
PPS – I watched our value property and least expensive sale go through a really nice remodel since closing in February. It’s night and day from the photo. They did a nice, pebble like stone facade that adds great curb appeal to the street!
and I have to say they did a fantastic job.
If you have been thinking of selling your Beverly Hills Home in 90212, now is a great time to do so. For buyer’s looking to purchase homes in Beverly Hills, West Hollywood, or any other part of Los Angeles December is one of the best months to get a deal.
For comparison purposes, our next recap will highlight what the stats are for our neighbors in 90210. Stay tuned!
Info@southbeverlyhillshomes.com
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- Lowest Sale 2011: 321 South Crescent Drive, Beverly Hills, CA 90212 – $1,204,000 2292 sq ft | 6050 sq ft lot
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- Highest Sale 2011: 265 South Camden Drive, Beverly Hills, CA 90212 – $2,850,000 4850 sq ft | 8576 sq ft lot
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- Lowest Sale 2012: 312 South Crescent Drive, Beverly Hills, CA 90212 – $1,220,000 1902 sq ft | 6070 sq ft lot | Just Recently Remodeled w/ Appealing Stone Facade
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- Highest Sale 2012: 247 South Roxbury Drive, Beverly Hills, CA 90212 – $3,399,000 3930 sq ft | 7680 sq ft lot | Pool | Designated Beverly Hills Design Award 2008
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- Highest Sale 2012: 247 South Roxbury Drive, Beverly Hills, CA 90212 – $3,399,000 Slick Indoor/Outdoor Living
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- Highest Sale 2012: 247 South Roxbury Drive, Beverly Hills, CA 90212 – $3,399,000 Stunning Pool
south beverly hills, 90211, 90212, southbeverlyhillshomes.com, richkidsrealestate.com, matthew b. sweeney, matt sweeney, beverly hills real estate
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Pricest Sale 90211 for 2012 – 123 N Doheny Drive
4300 Sq ft | 6995 Sq ft lot | PoolAs we slowly begin to fit back into our clothing post Thanksgiving while trying to get everything done that we need to prior to the official commencement of the holidays and new year, I thought it would be a good time to begin my annual market recap series. If you have followed my blogs over the years, my recaps are loaded with information and tend to span 5-6 entries.
I thought we would start with the single family homes of Beverly Hills, CA 90211. If you are a real estate junkie like myself, I not only want to know how we did this year as a whole but also how our numbers compared to 2011. These numbers are based on what were recorded in the MLS over the last year. For my neighbors in South Beverly Hills, subscribe to southbeverlyhillshomes.com for the latest in market news as well as neighborhood updates/events. With that said, let’s dive into the recap:
Beverly Hills Homes, 90211: Year to Date 2012
Number of units sold – 25
Average days on the market – 86
Median sales price – $1,350,000
Highest sales price – $3,100,000
Lowest sales price – $1,000,000
Average price per square foot – $630.10/sq ft
Average interior square footage of residence – 2770.36 sq ft
Average lot size – 6,132 sq ft
Differential in list price vs. selling price – 3.06% (on average, buyers are paying roughly 3.06% below what the property was listed for)
Beverly Hills Homes, 90211: 2011
Number of units sold – 30
Average days on the market – 76
Median sales price – $1,240,000
Highest sales price – $2,410,000
Lowest sales price – $800,000
Average price per square foot – $600.87
Average interior square footage of residence – 2119.69 sq ft
Average lot size – 5762.93 sq ft
Differential in list price vs. selling price – 4.89% (on average, buyers are paying roughly 4.89% below what the property was listed for)
What These Number are Telling Us
In my opinion, there numbers are a reflection of the market as a whole. What I have found this year is that there has been less inventory across the board and when something is priced well, it tends to sell in around 3 months in 90211. While we are 5 houses short in terms of closed sales for 2012, the year is not over yet. What we are also seeing is that sellers are pricing their properties closer to market value. There is a almost a 2 percent price differential in list vs. sale this year vs. 2011. Bottom line is that seller’s are getting closer to list than last year. Another thing we are seeing are larger homes with higher price tags selling in 2012. In terms of what is reflected in the MLS, thus far our, lowest selling price in 90211 was $1,000,000 vs. $800,000 in 2011. Conversely, the highest priced sale for 2012 was $3,100,000 (to be fair, this house is located just north of Wilshire, but is still in the 90211 zip code so I am counting it…the next highest sale was $2,850,000 south of Wilshire) compared to 2011′s priciest property at $2,410,000 which is almost a $700,000 difference which is quite substantial.
Bottom Line
Buyer’s are still dictating the market, but seller’s are listening. With less inventory this year, we are seeing higher prices, higher blended average prices per square feet ($630 this year vs. $600 in 2011), and seller’s getting almost 2% closer to their desired list price from last year. One challenge many faced was the difficult lending climate. As regulations remain rigid (especially with jumbo loans), many buyers had challenges with getting that final approval. Whether it be that large student loan hovering over head or the business owner with fluctuating income/tax returns, even well qualified buyers were not getting the loans they needed. This was especially true with a listing I had this summer at: 419 S. Almont Drive Beverly Hills, CA 90211. Luckily, I was able to represent the buyer and the seller which allowed me to manage all sides of the deal including lending. Interest rate are still at an all time low. If you have been thinking of selling your Beverly Hills Home in 90211, now is a great time to do so. For buyer’s looking to purchase homes in Beverly Hills, West Hollywood, or any other part of Los Angeles December is one of the best months to get a deal.
info@southbeverlyhillshomes.com, Search like a Beverly Hills Real Estate Specialist Here: South Beverly Hills Homes 90211 | 90212 and Beverly Hills Homes 90210
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- The Priciest Home in 90211 in 2011: 223 S. Hamel Drive – $2,410,000 4100 sq ft | 6500 sq ft lot
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- The Least Expensive Home in 90211 in 2012: 137 S. Clark Drive – $1,000,000 2088 sq ft | 5868 sq ft lot
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- The Least Expensive Home in 90211 in 2011: 226 S. Hamel Drive – $800,000 1443 sq ft | 4718 sq ft lot
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- Pricest Sale 90211 – 123 N Doheny Drive – Grand Foyer
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- Priciest Sale 90211 – 123 N Doheny Drive – Pool | Spa | Waterfall
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- Pricest Sale 90211 for 2012 – 123 N Doheny Drive 4300 Sq ft | 6995 Sq ft lot | Pool
Holiday Lights Now Up – South Beverly Drive 90212
Happy Thanksgiving to my neighbors in the 90211 & 90212!!!! Whether you celebrate the holiday or not, may everyone have a relaxing day full of food, friends, family, and relaxation! It’s a beautiful 70 degree day and cannot wait for the eating to commence.
For my friends and clients who are celebrating their first Thanksgiving in their new homes, I hope this is the beginning of many special gatherings to come.
Finally, don’t feel like cooking? Below is a list of local restaurants offering sumptuous holiday feasts:
DINING OUT ON THANKSGIVING DAY:
Thanksgiving Buffet at Scarpetta
$88 per adult, children ages 4-12 $35 | Noon – 9:00 pm
Scarpetta at Montage Beverly Hills
225 North Canon Drive
Beverly Hills, CA 90210
310.860.7970
Thanksgiving Brunch at LIVELLO
$80 per adult, children ages 4-12 $40, plus tax and gratuity. Grown-ups may indulge in unlimited Mimosas, Bellinis and Bloody Mary’s – $20 supplement. | 11:00 am – 3:00 pm
At LIVELLO, the traditional classic turkey is enhanced with seasonal dishes such as shucked oysters, snow crab legs, smoked salmon, lobster mashed potatoes, brie macaroni and cheese, apple and spinach salad, a cheese and charcuterie platter, egg station and dessert bar.
For children between the ages of 4-12, the Thanksgiving Celebration includes an interactive cookie decorating station. Pastry chef Angela Ng invites parents to relax while she teaches hands-on cookie decorating techniques to kids in the restaurant’s private dining room. With an assortment of frostings, sprinkles, snow caps, gummy bears and other edible decorations kids will love creating their own uniquely designed dessert.
LIVELLO at L’Ermitage Beverly Hills
9291 Burton Way
Beverly Hills, CA 90210
310.278.3344
Thanksgiving at THE Blvd
$125 per guest, $185 with wine pairings. Includes glass of prosecco.
- Roasted Sunchokes black truffles, watercress & mustard leaf salad -or- Baby Root Vegetables drake farm goat cheese, endive & caramelized pecans -or- Chicken Veloute, organic poached eggs, pickled pumpkin & caraway crisp -or- Pan Seared Diver Maine Scallops “Pumpkin Pie” & fennel pollen
- Mary’s Farm Organic Turkey eggplant stuffing, brussels sprouts, cranberries -or- Spiny Lobster smoked fingerling potato, chestnut, pine needle foam -or- Wild Cod “Cabillaud” fennel, orange, persimmon -or- Broken Arrow Ranch antelope tenderloin, white pumpkin, faro grains, tart dried cherries -or- Okinawa Sweet Potato brussels sprouts, kale, radish, pickled watermelon cucumber
- Pumpkin Pie Crèmeux candied pecans, crème fraiche sorbet, cranberry sauce -or- Chocolate S’mores bourbon marshmallow, hot chocolate sauce, graham cracker streusel, maple ice cream -or- Spiced Orange Jelly persimmon sorbet
THE Blvd at The Beverly Wilshire
9500 Wilshire Boulevard
Beverly Hills, CA 90212
310.275.5200
The Belvedere at The Peninsula Beverly Hills
$125 per person, including unlimited Nicolas Feuillatte Champagne. $55 for children under 12 | 11:00 am – 9:00 pm
Dishes served family-style . Price is subject to tax and gratuity. View Menu.
9882 S. Santa Monica Boulevard
Beverly Hills, CA 90212
Thanksgiving Buffet at CIRCA 55 at The Beverly Hilton
$75 per adult, $65 per Senior and $25 for children (3 to 11 years old) | 12:00 pm – 7:00 pm
View Menu
9876 Wilshire Boulevard
Beverly Hills, CA 90210
OnRodeo Restaurant at Luxe Rodeo Drive Hotel
$55 per adult, $48 per Senior and $28 for children under 12 – With Wine Pairing With Each Course add $20 | 12:00 pm – 9:00 pm
360 N. Rodeo Drive
Beverly Hills, CA 90210
(310) 273-0300
Sprinkles Cupcakes’ Thanksgiving Cupcakes
Available November 16 – 26.
Nothing completes a meal of turkey and stuffing like cranberry… cupcakes! Serve up a box of our unique fall flavors and all your guests will be thanking you. Orange Cranberry, Pumpkin, Red Velvet and Dark Chocolate cupcakes adorned with Sprinkles turkey and maple leaf sugar decorations.
Sprinkles Cupcakes
9635 South Santa Monica Boulevard
Beverly Hills, CA 90212
310.274.8765
New to Town? Search for South Beverly Hills 90211/90212 leases and sales like a Beverly Hills Real Estate Agent: http://richkidsrealestate.com/beverly-hills/
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