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Young buyers aim high

In a hot housing market, classic high-rise buildings get a new lease on life

Many L.A. high-rises are standards of midcentury modern design and, until recently, their residents shared the same vintage. Today, young buyers are lured to apartment living for the same amenities that attracted empty-nesters: a concierge, privacy and no upkeep required.

“These properties draw hip industry talent for the incredible architecture combined with luxurious amenities,” says Brian V. Moore, of Keller-Williams Realty, whose inventory boasts “vintage condominium” properties such as Granville Towers. “Most places sport professional-looking kitchens that make take-away look extra delicious.”

Four years ago, West Hollywood’s Sierra Towers was known as something of an ultraluxury nursing home. “I created a velvet rope through the marketing,” says Sotheby’s Russel Filice. “It changed the demographics. It’s probably 50-50 at this point, but every day new young people come in. The paparazzi are all over the building (and) the older people can’t take all the chaos.”

In his push to change Sierra’s image, Filice played up amenities like 24-hour security, valets, porters and an on-site catering kitchen. The private gym and the sixth-floor swimming pool also saw upgrades. Today, units on Sierra’s lower floors start at around $1.3 million.

“You have to be young and wealthy (to live here),” he says. “If you’re old and wealthy, you’re not parting with that money.”

Downtown, apartments are selling as quickly as structures can be converted from dusty warehouses into urban lofts with custom cabinetry.

Molino Street Lofts, which requires buyers to obtain an artist’s permit from the city, began selling units May 1; all 91 were gone by the end of the month.

The developer, Kor Group, also owns the art deco Eastern Columbia Building, built in 1930 as a department store. On July 10, Kor sold the first 80 units for prices as high as $2.3 million.

“By owning a part of this history, you’re writing your own life forever into the story of the city,” says Moore. “Who wouldn’t want that?”

Regatta

Regatta

Sierra Towers
1424 N. Crescent Heights, #60
Granville Towers, West Hollywood

2 bedroom, 2 bath condo on the sixth floor, 1600 sq. ft. Hardwood and sisal floors, limestone counters, 24-hour doorman and valet. Former home of David Bowie and Iman, now owned by celebrity wedding photog Yitzak Dalal.

Listing price: $1.49 million

Agent: Brian V. Moore, Keller Williams Realty, Los Feliz, (323) 300-1090

13600 Marina Pointe Drive , #1215
Regatta, Marina Del Rey

2 bedroom, 2 1/2 bath condo, 2300 sq. ft. Ocean/marina views, gas fireplaces, all marble baths and high-tech granite kitchen. Full-service building with valet parking, 24-hour security, pool, spa and gym.

Listing price: $1.69 million

Agent: William Durfee, Coldwell Banker, Brentwood East, (310) 442-1660

9255 Doheny Road, #1402
Sierra Towers, West Hollywood

Two units on the 14th floor were combined to create a 2 bedroom, 4 bath condo with 3200 sq. ft., separate guest suite, bar and ocean to city views. Full service building, indoor pool and gym, 24-hour security.

Listing price: $2.99 million

Agent: Valerie Fitzgerald, Coldwell Banker, Beverly Hills, (310) 285-7515

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