Posted on 24 Aug
As Los Angeles real estate continues to see shrinking inventory and record-high prices, ambitious new buyers are setting their sights on one of L.A.’s most storied enclaves—Los Feliz. Particularly appealing are the neighborhood’s rare, yet increasingly popular new builds. They offer the luxury of space and contemporary design coveted by young buyers as well as the location, views, and artistic pedigree for which the area has long been known.
Perhaps no Los Feliz home better represents the neighborhood’s renewed draw than 2337 High Oak Drive, a stunning, contemporary new construction, which recently sold for $7.7 million at a record-breaking, price-per-square foot. Represented by The Agency’s Paul Lester, Aileen Comora, and Gloria Castellanos, the residence is a rare gem in a neighborhood that weighs heavily on pre-war homes. Designed to allow for an organic transition between living spaces, rooms flow seamlessly from one to the next, revealing iconic views of the Griffith Observatory, Hollywood sign, downtown Los Angeles, and Catalina along the way.
“Los Feliz hasn’t seen a lot of sensitive design in the realm of new construction,” says Paul. “High Oak’s open and flowing design, paired with its iconic views, appeal to the kind of creative clientele that values Los Feliz as an artistic haven.” Selling for a record-breaking $1,725 per square foot, the home is setting a benchmark for new value in Los Feliz.
And while Los Feliz is certainly no diamond in the ruff, (Angelina Jolie recently bought the iconic Cecil B. DeMille estate in Laughlin Park and Katy Perry won a long-standing
legal dispute to purchase an eight-acre convent on Waverly Drive), the enclave still offers more value relative to Santa Monica, Trousdale, or The Hollywood Hills, where a home like 2337 High Oak Drive would have fetched between $12 million and $20 million.
According to Paul, this new wave of ambitious buyers is more flexible in their home search, willing to broaden their criteria in favor of exceptional properties where they can stretch their arms, take in the views, and grow into their surroundings. “Rather than sticking to a neighborhood they know well in Beverly Hills or on the Westside, buyers are more willing than ever to explore other pockets of the city in search of a truly exceptional property, and a home like High Oak delivers.”