The Carlyle is finally 100 percent sold!

25th, August 2016
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by Maurice & Rustad
in  Blog Posts

It took six years to do it, but there are no more vacancies at the Carlyle Residences on Wilshire Boulevard. According to The Real Deal, all 78 units at the Elad Group’s Westwood luxury tower have been sold, grossing a total of $275 million, or an average of $1,044 per square foot.

The Carlyle Residences opened in 2010, promising luxurious living without the prying eyes of paparazzi. Touted among its amenities was a staff of “Israeli-trained VIP” security guards to keep Harvey Levin’s TMZ minions at bay. Militant but luxurious, even the Carlyle felt the sting of the still recovering American economy when its condos first hit the market. Even before construction had been completed on the tower, condo prices were being slashed by as much as $1.2 million.

Carlyle was able to nab a few high profile tenants (Larry King and Bruce Willis) in the first few months of condo sales, and was half full by the end of 2010. In that same year, the Carlyle began renting out select condos just to get people in the door, with the rent paid going towards the purchase of a unit in the building.

Full article here:

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