Home Buying in Los Angeles>Question Details

Michelle, Home Buyer in Los Angeles, CA

If you were afford to buy Ritz carton residence. Would you be interested in? do you think it will be a good for Investment? How do you think?

Asked by Michelle, Los Angeles, CA Tue Mar 8, 2011

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The Ritz Carlton Residences representatives gave a talk at my office yesterday. It's an incredible project. The service and amenities are spectacular. Another Stadium is probably going to be built very close which will increase the value of the Carlton. It will bring more hotels and restaurants and shopping. It's 60% sold by people looking for 2nd homes, USC parents investing for the kids who go to school nearby. I think it's will be a good investment over the long term. As are most properties today. I would not by it and think you will flip it and make a fortune. If you are interesting in see the Residences or would like more information I would be happy assist you. I'm an agent on the Eastside and also work downtown. It is always best to have your own agent so that someone is representing your interest. I can be reached at 323.804.2008
Web Reference: http://www.karennumme.com
1 vote Thank Flag Link Tue Mar 8, 2011
Hi Michelle,
Yes, I think that buying a condo in the Ritz Carlton is a good investment! In a very short time, (and even in a Buyer's market!) they have already sold out over 60% of the residences (the top 24 floors are the condos, with AMAZING VIEWS!).

Many of these units have been sold to Los Angeles residents who want a base in this part of town, which is quickly building up with restaurants, theaters, art galleries, nightclubs, etc. (and with preliminary plans for the NFL stadium right around the corner, it's a very large draw). But the buyers are also coming from all over California, the rest of the country and the world. The Ritz Carlton brand has an international appeal, a brand of luxury and quality that comes with it, so even foreign buyers are very comfortable buying in this building.

This building is top of the line, and with the exception of the W in Hollywood, it is the only building that provides these type of "hotel amenities" in a condo. To live at the Ritz will mean 24 hour room service, valet parking for you and your guests 24/7, a separate pool/spa/gym area for the residents apart from the hotel guests (also a very high end demographic) and a variety of restaurants to choose from that are only an elevator ride away. It is truly New York living come to Los Angeles!

I'm very familiar with the units in the building....and I would welcome the opportunity to show you several of the model units if you're interested.

Jayne Clement, ePro
Keller Williams Realty
C) 213/309-5005
DRE #01877738
1 vote Thank Flag Link Tue Mar 8, 2011
Thank you so much of All your profetional comments! These are very helpful for us.
0 votes Thank Flag Link Wed Mar 9, 2011
Dear Michelle,
Wow the Ritz is very very nice. I think it will always have a draw for a certain type of buyer.The amenities are amazing as well. It's hard to say if this will be a good investment short term, given the state of the Real Estate Market today. I have no reason to think you would be making a bad move, if you think long term on the investment.
0 votes Thank Flag Link Tue Mar 8, 2011
I was just there this morning and they have 17 different floor plans, so depending on your needs, there is many to choose from. 224 residences on floors 27 to 52, have spectacular views, European designer finishes in three color schemes and the signature service that only The Ritz-Carlton can provide. Following is a price and HOA range. (Please be aware, the information provided is current and could change at a later date.) The residences are 100% condominium ownership and range from approximately:

* 1BR, 1.5-2BA, dens vary – 960 to 1,630sf from $843,000 to $1,301,000 (HOA dues from $1,605 to $2,051)
* 2BR, 2.5-3BA, dens vary – 1,658 to 2,297sf from $1,496,000 to $2,205,000 (HOA dues from $2,177 to $2,521)
* 3BR, 3-3.5BA, Den – 2,242 to 4,299sf from $2,124,000 to $4,459,000 (HOA dues from $2,521 to $3,715)
* The penthouses encompass both one and two-story designs with approximately 2,197 to 5,444sf and sweeping views of Los Angeles with prices available upon request.

Floor plans, views and square footages are available at http://www.AllAccessLiving.com. Closings started in February 2011 and will be closing from the bottom up (27th floor up).

The Ritz-Carlton Residences at L.A. Live will feature private, resident-only facilities, as well as the hotel’s signature facilities including spa services, fitness facilities and a world class culinary destination restaurant among a host of other services.

Residents will have access to the following hotel and residential services:
• Dedicated Residential Concierge
• L.A. LIVE All Access Living
• Residential Sky Lobby
• Private Residential Lounge
• Multi-Seat Screening Room
• Exclusive Residential Boardroom
• Private Residential Fitness Center
• Heated Rooftop Swimming Pool
• The Ritz-Carlton Spa, Los Angeles
• Landscaped Sky Terrace
• WP24 by Wolfgang Puck
• Valet Parking
• Unrivaled Hotel Services of The Ritz-Carlton

Some of the amenities and services described are available for purchase from the hotel and others are provided at no additional cost to residents. Prices, design features, and amenities subject to change without notice.
0 votes Thank Flag Link Tue Mar 8, 2011
All is matter of choice amenities offered to residents . You may also review HOA determine what it does cover expenses involved.

Realtor would violate professional code of ethics comment about "good or bad investment"

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Tue Mar 8, 2011
I happen to sell a lot of units in Downtown and this is right in the heart of the entertainment area of downtown. Close to Nokia Theater, Staples Center, Convention Center and now a vibrant walking neighborhood with shopping, dining, etc. Again, like your other question I answered... it all depends on your budget, size of the unit, and personal preference. Again, I am happy to show you around and get you familiar with the building and neighborhood. If you would like to make an appt, please contact me directly. Thank you.
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
0 votes Thank Flag Link Tue Mar 8, 2011
Hi Michelle,

The Ritz Carlton Residences are amazing. They are top of the line and the amenities are phenomenal (Rooftop Pool, Valet Parking,Private Sky lounge, and more.) With rumors of a new stadium coming to downtown Los Angeles, I think a unit there would be a great investment.
Feel free to give me a call if you would like to take a tour. I will gladly set one up for you.

Have a great day,

Kenya Reeves Costa ABR,SFR
Keller Williams Realty Los Feliz
0 votes Thank Flag Link Tue Mar 8, 2011
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