Candy Spelling Trades in Mansion For Record 47 Million Dollar LA Condo
Candy Spelling, widow of TV mogul Aaron Spelling, has bought a record setting Los Angeles Condominium for the tidy sum of 447,000,000. The new condo will be on the top 2 floors of The Century, a new condominium in Century City right across fro the Century Plaza Hotel.
Candy Spelling caught heat for putting her husbands mansion up for sale weeks after his death and sold for a reported 130 million dollars.
Her new home will be less than a third the size of the old one — just 16,500 square feet — but with a killer 360-degree view spanning the horizon from downtown Los Angeles to Santa Catalina Island. The condominium building called the Century is going up next door to the Century Plaza Hotel on Avenue of the Stars and will be completed in late 2009.
“She will be moving into it, though it won’t be up for a year or so,” said Spelling’s attorney, Stephen Goldberg, who confirmed the sale Monday.
At a time when headlines are focusing on plummeting home prices, foreclosures and bad loans, the sale highlighted the vast differences in the region’s housing markets.
There are still wealthy buyers keeping the very top end in play — often at ever higher prices. The price of $2,848 per square foot paid by Spelling at the Century is a record for a Los Angeles condo. The old record of $2,700 was set in February — at the same building. via the Los Angeles Times.
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Comment by commercial real estate st george on 23 July 2008:
Now that is some commercial real estate I would have loved to sell. That is some big money.
Comment by Miami Real Estate Attorney on 24 July 2008:
Its great that people are still selling and buying at the top end, because it all trickles down–the Realtors make money and spend it, the contractors make money, movers, cleaners, etc.