Mandarin Oriental Hotel Group has announced plans to open a branded residences building in Beverly Hills middle of 2022. Mandarin Oriental Residences, Beverly Hills will feature only condos, with 54 apartments across a glassy new 323,000-square-foot, seven-story structure at 9200 Wilshire.
The project will include extensive concierge services, a rooftop pool and dining facilities overseen by Chef Daniel Boulud. Some of the units will come furnished; others can be designed in collaboration with clients. The overall interior design project is being conceived by studio 1508 London
The residences, which open for exclusive private previews this month and start at US$3.6 million for a 1,200-square-foot, 1-bedroom, 1.5-bathroom apartment, represent the first standalone condo project for the Hong Kong-based luxury hotel group. The building’s two penthouses, each with their own lobby, elevator, garage, and staff, will cost up to $40 million.
Mandarin Oriental has partnered with SHVO, the New York-based developer, which was also involved in projects such as the Aman New York, with 20 condos from $5.9 million, and another Mandarin Oriental Residences just blocks away at 685 Fifth Avenue, which like its Beverly Hills counterpart, is slated to open in mid-2022
At an entry-level cost of around US$3,000 per square foot, the price point is almost triple the area’s average of $1,131, according to research from Douglass Elliman. But it’s not as high as what’s being sold by Montage Hotels & Resorts, whose new Pendry-branded residences in West Hollywood broke LA sales records in August. Two of 40 condos that have begun trickling onto the market as part of its mixed hotel-condo project on the old House of Blues site sold that month for around $13 million each
Mandarin Oriental Hotel Group has confirmed it is still seeking the right hotel project in Los Angeles. Further Residences projects are planned for Tel Aviv, Grand Cayman, Honolulu, Boca Raton, and Barcelona.
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