Not every wealthy resident of Southern California wants to buy a Beverly Hills mansion or a Malibu beach house. There are a few who prefer high-rise condo life, and those who do almost always are looking for anything available in prestigious Sierra Towers, one of the first and finest to go up in the area, just off Sunset Boulevard on the border of Beverly Hills and West Hollywood.
Anyone who's interested in living here happens to be in luck at the moment, if they have a lot of cash on hand, of course. A rare listing -- a double unit in the building -- hit the market a month ago and just had its price cut to $5.95 million.
Just how hot is this building? Well, celebs including David Geffen, Sandra Bullock, Matthew Perry, Courteney Cox, Rachel Zoe, Lindsay Lohan, Kelly Osbourne, Joan Collins, Peter Lawford, Diahann Carroll, and Sidney Poitier have all called it home. Elton John sold his condo there to Cher.
Celebs once appreciated the short walking distance to Hollywood's hallowed Hamburger Hamlet. Now that the Hamlet's gone, current residents enjoy the proximity to the exclusive SoHo House, recently declared by the Hollywood Reporter as L.A.'s top power lunch spot.
Combining units within the building to create larger living spaces is a popular pastime for condo residents. This unit's previous owners -- a producer/director and his actress wife -- mashed up a three-bedroom with a smaller one-bedroom more than a decade ago. The result is a condo with four bedrooms and 4.5 bathrooms in 3,402 square feet of space.
The building's steel framing and no interior load-bearing walls makes renovations easier than in most other buildings. Constructed in 1965, Sierra Towers was one of the first high-rises in the area to be built on rollers, in order to withstand earthquake damage. According to listing agent Su-Z Schneider of Gibson International, who has been selling condos in the building since the 1990s, earthquake damage has been miniscule.
There's no damage to this oversize unit, but Schneider says the condo will need some renovations and updating. However, lovely views all the way out to the ocean on a clear day are undeniable.
And Schneider says it's hard to find a truly blank slate in a popular building with services including 24-hour guards, concierges, porters, and valet parking. Also, amenities include a saltwater pool, a spa-like fitness center, and a banquet room.
"It's just like living in the Four Seasons," she says, noting that some of the staff have been there for 30 years. Celebrities also love it because it's very private and virtually inaccessible to paparazzi.
Of course, those luxury services and amenities do come with a price. The homeowner fee for this unit is about $4,000 a month. However, if you can afford $6 million for the condo, the monthly fee probably won't be an issue.