"It's being offered furnished as a possibility, so the buyer wouldn't have to do a thing," said Joyce Rey, a real estate broker and executive director of Coldwell Banker Previews International, Beverly Hills, who has the listing.
The owner, Don Byerly, said he wasn't necessarily looking for a penthouse when he bought it 11 years ago but liked the size of this double unit. He said that he and his wife are looking to downsize but would like to stay in the building because of its amenities.
"We like it because people take care of things. If a lightbulb is out, you call down and they come with a replacement," he said. "It's a pretty simple lifestyle, a hotel with kitchen privileges."
The property has been on and off the market for the last few years, which can be typical for high-priced properties.
Although Park Fifth's Nelson said that one $5.3-million penthouse there pre-sold within a month of being offered last year, properties listed above $5 million can take longer to sell than those in less expensive price ranges.
Local buyers, the Century's Wine said, could include estate owners looking for less maintenance as well as condo owners trying to trade up.
Rey exuded confidence about connecting with such buyers due to the continued interest in her listings, but DataQuick's LePage expressed caution about the overall market.
The slowdown in home sales and other factors may eventually trickle up, LePage said.
"A recession and continued losses for stock and hedge funds would dampen the will of the wealthy to buy luxury real estate," he said.
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A more modest way to the top spot
Penthouse living doesn't have to set a buyer back $30 million. Here is a sampling. -- Jennifer Lisle
Existing units for sale:
$4.9 million
Water Tower at the Biscuit Company Lofts
1855 Industrial St., Los Angeles
www.biscuitcompanylofts.com
Its entrance is on the same level as the building's six other penthouses, but this four-story, 3,400-square-foot unit rises above the rest of the building, creating a private tower. The rooms can be divided into bedrooms or left open. Another 3,500 square feet of outdoor roof decks and patio space afford 360-degree city, mountain and ocean views. The 1925 converted factory is one of the city's historic monuments.
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$1,895,000
Cove Marina del Rey
13650 Marina Point Drive, Marina del Rey
