Last night on the ABC7 Eyewitness News, The Agency’s Mauricio Umansky gave viewers an exclusive tour of The Ritz-Carlton Residences at L.A. LIVE, the 54-story, luxury-branded residential tower located high above the heart of L.A’s sports and entertainment complex.
The Agency serves as the exclusive broker for the world-class property, where sales have taken a dramatic leap thanks to a broad range of buyers from Europe and Asia, as well as entrepreneurs based in Los Angeles and on the West Coast.
Commenting on the five-star services and amenities offered by The Ritz-Carlton, Umansky notes the Residences’ rooftop pool, gym, dedicated valet parking, security and concierge services, and adds: ”There’s 20 restaurants at L.A. Live, and of course we have the Staples Center, the Nokia Theatre, and the Kings and the Lakers and the Clippers and hopefully Farmers Field with a brand new football team.”
Also appearing in the segment is restaurateur and wealth manager Kerry Moy, who owns a one-bedroom, two-bathroom home with a den at The Ritz-Carlton Residences at L.A. LIVE. Moy, who has 11 restaurants in Southern California, including Wokano and the Green Hut Cafe in Downtown L.A., joins the growing number of executives and entrepreneurs who now call Downtown Los Angeles home.
Learn more about The Ritz-Carlton Residences at L.A. LIVE here.
For an analysis of the effect Farmer’s Field may have on property values in Downtown L.A., click here.
Just one question – how do you justify the $3000 monthly ‘maintenance fee’ to the potential buyers?
Hi Truman – the HOAs in the building start at $1,465. The $3,000 maintenance you mention is for the largest home, which is over 4,000+ square feet in size. The Residences is a full-service, luxury building, also branded with The Ritz-Carlton name – it’s unlike anything else in LA. The maintenance includes all utilities (water, trash, sewer and gas); a full property insurance package (general liability, fire, earthquake and H06 condo insurance) – this is the only residential high-rise building that includes a full property insurance package in their HOAs; also 24/7 valet parking for all residences and their guests; maintenance of the rooftop pool, private fitness center, 12-seater boardroom, Owner’s Lounge and a complimentary Ritz-Carlton catered breakfast EVERY morning from 7-10am. There is also have a full-service residential concierge team in place, 24/7 lobby ambassador and all homes are equipped with an in-house phone and direct access to the Ritz-Carlton staff and services 24/7. Owners also get access to the hotel services like housekeeping, room service, dry cleaning services, etc. In addition, there is a full-service Ritz-Carlton Spa on-site…
The monthly fees include all of these things. On average, the fees are just shy of $2,000 – if you consider each line item and the actual dollar worth, the monthly maintenance fee is well worth each penny.