The housing recovery is well on its way, and leading the way in Downtown Los Angeles is The Ritz-Carlton Residences at L.A. LIVE, reported NBC4 News last night. Developed by AEG, these 224 luxury Residences are the highest homes in Los Angeles and its best-selling residential development, with 85-percent of the homes now sold.

NBC4 News cameras went inside the recently unveiled FENDI Casa Penthouse at The Ritz-Carlton Residences at L.A. LIVE.  The 2,396-square-foot luxury residence, priced at $3,575 million (not including furniture), is on the 50th floor of The Ritz-Carlton Residences at L.A. LIVE, with inspiring, west and south-facing views.

The Agency’s Brigham Yen had a chance to speak with reporter Angie Crouch about the sales success at The Ritz-Carlton Residences at L.A. LIVE. The Agency is  the exclusive sales and marketing partner for the Residences.

“As I discussed in a story last year about the Ritz-Carlton luxury condos, executive level housing plays a surprisingly major role in urban planning,” said Yen on his blog today. “Where CEO’s decide to live can determine where companies are eventually located (many times convenient to the CEO), and subsequently, if employees are afforded the option to take mass transit or not (e.g., transit-rich Downtown LA vs transit-starved Westside), affecting not only the environment but our quality of life.”

Watch the full NBC4 News segment above or here.