The appeal of luxury lock-and-leave apartments
A concierge at your beck and call, a chauffeur-driven Rolls Royce, a private wellness studio—high-end residential offerings are going to great lengths to lure residents, offering new services and amenities that go well beyond the standard bells and whistles. The highly serviced, highly amenitized, lock-and-leave lifestyle is gaining in popularity as more bicoastal and international renters and buyers continue to enter the Los Angeles market. And they’re certainly willing to pay a premium for the perks, which can range from daily continental breakfast to Botox treatments by an on-site doctor in the comfort of home. Providing the services noted above and so much more is Ten Thousand, a 40-story tower featuring 283 luxury rental residences on the border of Century City and Beverly Hills.
Ten Thousand features 75,000 square feet of indoor and outdoor amenities, a house staff of 80 and hospitality-style services. Its Penthouse #502, recently featured by both Forbes and Robb Report, is currently the most expensive luxury rental penthouse in Los Angeles, available for $65,000 a month. “The best way I can describe this building is the perfect blend between Soho House and Equinox” says The Agency’s James Harris, who along with David Parnes, co-lists Penthouse #502. “At the top end of the market, renters and buyers are looking for very personalized, experiential living experiences, and Ten Thousand goes above and beyond to provide just that.” Along with panoramic views that stretch from Downtown Los Angeles to the Pacific Ocean, residents of Ten Thousand enjoy an indoor lap pool with underwater speakers, a private one-acre park with pool and spa, indoor and outdoor theaters, exercise studios, and the list goes on. Residents can even use a mobile app to book the house car, reserve a pilates class, or schedule the nutritionist, while the Technology Concierge can assist residents with all of their tech needs.
And who better to provide luxury hotel services and amenities than a renowned hotel brand itself. Hotel-branded residences are continuing their rise in prominence, appealing to the jet-setting buyers seeking a turnkey lifestyle without the hassle of a private home. Buyers and renters are drawn to these offerings, which often align with brands they recognize, instilling confidence in the level of service and amenity offerings they’ll enjoy at home.
A new such offering, Mr. C Residences, was recently unveiled at the chic Mr. C Beverly Hills. Five residences, designed by acclaimed California architect Ray Kappe, come with the white-glove services and amenities of the adjacent hotel, including the 4,500-square-foot pool terrace, charging privileges at hotel amenities and in-residence dining from The Restaurant at Mr. C by Ignazio and Maggio Cipriani. An additional perk of ownership is the option to rent back the residences to the hotel, subject to a revenue share agreement.
And the trend isn’t localized to Los Angeles. In the now booming market of Sacramento, The Residences at The Sawyer provides both the hotel amenities and a host of private amenities exclusive to homeowners. Situated atop the new Kimpton Sawyer Hotel at Downtown Commons, the residences offer access to the hotel’s outdoor pool and lounge, fitness studio and à la carte services, plus a private residential doorman, valet, concierge and Residents’ Lounge. Owners also get the added perk of living steps from the new Golden 1 Center, home to the Sacramento Kings, where they enjoy VIP access, preferred rates, and priority ticket options.
Whether it’s cuisine by celebrity chefs, event tickets or on-call nutritionists, new residential offerings are stepping up the game to reach high-net-worth buyers, whose expectations continue to rise. These buyers, many from overseas, are seeking rare and unique experiences, and offerings such as Ten Thousand and new hotel-branded residences hitting the market offer not just experiences, but hassle-free ownership in increasingly desirable locations.
Originally published in The Agency.