15 New Residences Under ContractHollywood, CA (October 31, 2011)—On the heels of a price restructuring, The Residences at W Hollywood announces increased sales momentum at the 143-unit luxury condominium located at the world-famous intersection of Hollywood and Vine and an approximate $1 million enhancement to the property’s residential rooftop slated for an official unveiling later this fall.
With 15 new residences under contract in the past 30 days, HEI Hotels and Resorts and Gatehouse Capital, co-owners of W Hollywood and The Residences at W Hollywood, in conjunction with new listing agency PowerPlay Destination Properties California, announce an additional re-pricing of select one-bedroom units complete with den, a second parking space and spectacular Hollywood Hills views, which are currently offered starting at $589,000.
The rooftop enhancements, designed to deliver an unparalleled Hollywood residential pool deck experience, will feature an outdoor kitchen and fireplace, exotic South American mahogany wood decking, extra lounge seating and unmatched views of the entire city from the Hollywood Sign to the Pacific Ocean. In addition to the existing pool, private cabanas and fitness center, a rooftop dog park debuted earlier this month.
“The property has been comprehensively re-priced to ensure all Residences offer exceptional value, with homes now starting in the high $400,000s, and the market has responded enthusiastically,” said Ron Barnes, Sales and Marketing Director for The Residences at W Hollywood. “We’ve written 15 new contracts in the past month, and that’s prior to the official launch of our marketing campaign and re-pricing of our one bedroom plus dens. With our enhanced rooftop pool deck debuting shortly, we expect sales to continue on an upward trajectory leading into 2012.”
“The Residences at W Hollywood present an exceptional living proposition in an iconic location teeming with unparalleled entertainment, nightlife, shopping and dining opportunities,” said Clark Hanrattie, Chief Investment Officer of HEI Hotels and Resorts. “Buyers can now expect extraordinary units offered at compelling prices at what appears to be one of the best moments in decades to purchase real estate in Los Angeles.”
PowerPlay Destination Properties is a global destination real estate marketing and sales firm with a world-wide portfolio of luxury developments which includes projects in Australia, Hawaii, Texas, Mexico and Argentina. Since officially acquiring the listing, PowerPlay Destination Properties California has appointed internationally-acclaimed sales and marketing veteran Ron Barnes to lead sales initiatives at The Residences at W Hollywood. Barnes brings over two decades of experience to this project and has previously led sales, marketing, and development teams in such high-profile projects as Aspen/Snowmass Base Village, Icon Vallarta in Mexico and, most recently, Promontory Club, Park City, Utah. Back To Media