825 North Kings Rd, #15, West Hollywood, CA 90069 – 2br/2.5ba, Roughly 1590 sq ft – List: $734,900/Sale: $734,900 – Days on Market – 4
I have been in love with this Lorcan O’ Herlihy original for quite some time. If you live in or know the West Hollywood area well, most people are familiar with this iconic and in my opinion, one of the most architecturally significant buildings in the city. Lorcan has a knack for creating unique design aesthetics that literally pop out at you when you drive by. When Lorcan makes his presence known on your street, the area is automatically catapulted to another level. I would say that this particular building is the crown jewel of his work. With that said, it gives me great pleasure to announce Rich Kids latest sale at 825 North Kings, Unit 15. Nothing is more exciting (well, perhaps I can think of a few other things) than having the opportunity to sell a piece of property that you have always admired!
It’s funny, because I was going back to my blog entry about this building datedAugust 31, 2009, I remember initially seeing one of the lower units and being somewhat disappointed. I think I likened it to going out on a date on Match.com (not that I have ever done such a thing or know anything about it). You see the photos, get to meet the person, and you are just completely enthralled. Then you get to know them a bit more, only to find out that it was a total let done once you got inside them (this can be interpreted in numerous ways). With each unit being completely different, I gave the development another shot and was totally blown away by the other units. In 2009, a similar unit and next door neighbor to this one was on the market for $1,249,000. My client just closed on the neighboring one in an REO/bank owned sale for $734,900. Unit 16 just sold for $725,000 with 300 sq feet less, single floor, and no rooftop garden. Suffice it to say, we got a steal of a deal and closed it in 20 days!Side Note: I am noticing an abundance of REO/bank owned deals right now and have gotten quite proficient with this sector of the market. It takes a little more time doing buyer due diligence up front and following up, but the savings can be massive. I would probably list this unit in today’s market in the low $800′s if this were a conventional sale. One other thing is that you and your agent (hopefully me) have to be really on top of these listings if you want to beat out the competition. I was visiting a friend in DC and scheduled my flight at 5am the day before Labor Day when this hit the market to have it inspected and write an offer before anyone else circling could have a chance to jump in. A Rich Kids client gets what they want, when they want it and it’s my pleasure to offer that type of concierge style service!
Congratulations, D! I would welcome you as the newest member of the Rich Kids family, but you have been around since the very beginning. Instead, you now get the be the first member of the Rich Kids Frequent Buyer’s Club. Thank you so much for your loyalty and always injecting style into everything that you do! I appreciate you more than you know!!! Cheers!!!!!