Luxury Condo Sales in WeHo

A blog reader wanted us to take a look at luxury-condo sales at Shoreham Villas in West Hollywood, at 8788 Shoreham Drive. Our reader says this new 15-unit complex was built on the former site of Spago, in 2006.  He also says nine units were sold in 2007, but only three so far this year. 

Judging by what’s happening to at least one other high-end condo complex in the area, this complex is doing well to have sold any in ’08.  Another nearby new complex, at 1331 N. Sycamore Ave., has just slashed its prices; it’s possible none of these have sold yet either, because none are listed in the comps.  It looks like there are three left to sell, all at premium prices. Compared to the ones that have already sold, it seems like these could come down a little. (Note:  The developers must think “79″ is a lucky number, judging from their asking prices.)

Sold:
8788 Shoreham Dr., #11
Sold for $905,000 on 6/19/08
2BR/3B/1,880 square feet

8788 Shoreham Dr., #20
Sold for $925,000 on 9/25/08
2BR/3B/1,940 square feet

8788 Shoreham Dr., #23
Sold for $1,050,000 on 2/5/08
2BR/3B/2,250 square feet

For sale:
8788 Shoreham Dr., #40
$1,179,000
2BR/2.5B/2,030 square feet

8788 Shoreham Dr., #30
$1,079,000
2BR/2.5B/2,030 square feet

8788 Shoreham Dr., #22
$879,000
2BR/2/5B/1,550 square feet

If anyone out there has any other inside info about how high-end condos in the area are doing, please let us know.