Forget the Hollywood sign \u2014 the newest landmark in Tinseltown is a $10 billion pile of dirt that\u2019s about to become the one of the most exclusive addresses on the planet. <\/p>\n
The massive One Beverly Hills project has officially gotten off the ground, promising to turn a 17.5-acre slice of prime real estate into an \u201curban resort\u201d so opulent that it makes Rodeo Drive look cheap.<\/p>\n
Construction underway for One Beverly Hills. Andy Johnstone for NY Post<\/p>\n
The property covers 17 acres and is located right next to the Beverly Hilton. Andy Johnstone for NY Post<\/p>\n
Over the weekend, 3,800 cubic yards of concrete were continuously poured, marking the foundation for the tallest towers in Beverly Hills.<\/p>\n
With a jaw-dropping $10 billion valuation, this isn\u2019t just another condo complex; it\u2019s a fortress of solitude for the super-rich. The development is set to feature the first Aman hotel on the West Coast, an ultra-lux hospitality brand beloved by the likes of Bill Gates and the Kardashian\u2019s. <\/p>\n
The towers will be the tallest in the 90210 area code. Foster + Partners<\/p>\n
The site of the $10 Billion One Beverly Hills project at the intersection of Wilshire Blvd and Santa Monica Blvd, Beverly Hills, CA. Andy Johnstone for NY Post<\/p>\n
The project will include two glass towers of Aman branded residences, where entry-level condos start at about $20 million, and a penthouse can cost you north of $40 million. The site will also boast a 100,000 square foot private club, plus dozens of designer stores and top-notch dining. <\/p>\n
The rumored price of admission? A $200,000 initiation fee and $20,000 in annual dues. <\/p>\n
\u201cI think it will be the nicest condo building in LA, if not the United States,\u201d a real estate insider told The Post. \u201cBut it makes no sense. The pricing is estimated at $7,000 per foot. So a 4,000-square-foot condo will cost $28 million. I think people would be foolish (if solely looking at it as an investment) to spend more than $4,000 per foot.\u201d<\/p>\n
A rendering of the completed project. Foster + Partners<\/p>\n
The development is the brainchild of Cain International, OKO Group, and local powerhouse Alagem Capital Group, led by Beny Alagem. They\u2019ve spent a significant amount of time and money battling for approval from the city of Beverly Hills to transform the site, which sits at Wilshire and Santa Monica Boulevards. <\/p>\n
When finished just in time for the 2028 LA Olympics, the complex will be a self-contained ecosystem of wealth, complete with 10 acres of botanical gardens and open green space\u2013with 4.5 of those acres open to the public\u2013and 200,000 square feet of retail space. <\/p>\n
Expected to be completed in 2027, it will bridge the neighboring Beverly Hilton and Waldorf Astoria hotels, housing them all in the same oasis of a compound. <\/p>\n","protected":false},"excerpt":{"rendered":"Forget the Hollywood sign \u2014 the newest landmark in Tinseltown is a $10 billion pile of dirt that\u2019s…\n","protected":false},"author":2,"featured_media":52413,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[19167,2136,5151,9,11,10,58],"class_list":{"0":"post-52412","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-beverly-hills","9":"tag-california","10":"tag-luxury-development","11":"tag-new-york","12":"tag-new-york-headlines","13":"tag-new-york-news","14":"tag-us-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/52412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=52412"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/52412\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/52413"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=52412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=52412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=52412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}