Related California proudly announced that recent sales of The Waverly Penthouse Collection, ranging from $2,036 up to $2,226 per square foot, have set a new record high benchmark for the Santa Monica condominium market, where sales have never surpassed $2,000 per square foot on coveted Ocean Avenue. The Waverly, developed by Related, which has consistently set record sales prices both in LA and across the nation, has successfully sold out The Waverly Penthouse Collection of four world-class luxury residences, offering designer finishes, an unparalleled level of service and highly sought after ocean and park views. The Waverly and The Seychelle, an adjacent luxury condominium building developed by Related on the same 3.7 acre site, have both independently achieved the 50% sales mark.
The Waverly and The Seychelle are home to the first new-construction luxury residential development on famed Ocean Avenue in over two decades, now known as Ocean Avenue South. Ocean Avenue South has essentially created a new neighborhood in a previously quiet, untapped corridor of Santa Monica, connecting Main Street to 3rd Street. The development is injecting new life and vitality by introducing 158 luxury residential condominiums, upscale retail and restaurants, including Starbucks and famed LA hot-spot Joan’s on Third slated to open in early 2015. In total, the property features over 19,000 square feet of retail space that will expand the shopping and dining experience. It offers public walkways and plazas providing access between Main Street and Ocean Avenue to the Santa Monica shore, creating a vibrant outdoor lifestyle for visitors and residents alike.
The Waverly’s Skybridge features a public art installation by Catherine Wagner titled “Wave Echo” that is activated by the movements of visitors and the tidal patterns, as measured by research buoys in the Santa Monica Bay, offering both a striking architectural feature and an interactive experience that adds to the ambiance. The private Skybridge Lounge offers residents of the 65 condominiums a luxurious space for social gatherings with panoramic vistas.
Rising a dramatic 10 stories skinned in glass, The Seychelle offers 93 condominiums and an expansive 11,000 square feet of amenity space that includes a rooftop pool and lounge with furnished cabanas and outdoor barbeques, fully equipped fitness center with yoga studio, 3rd floor terrace, business center and a pet spa.
The community is bordered by the newly opened $47 million 6-acre Tongva Park created by the designers of New York City’s High Line. Ocean Avenue South commands the site between Olympic and Pico Boulevard, bordered on the south by the chic Viceroy Santa Monica boutique hotel, where residents receive special preferred benefits. The property is a haven in the heart of Santa Monica: just one block to the beach; in close proximity to the iconic Santa Monica Pier; fine dining options along Ocean Avenue; and within walking distance to the anticipated metro stop on the 15.2-mile Expo Line, linking to downtown LA. Ocean Avenue South delivers LEED-certified, modern elegance with striking architecture by Moore Ruble Yudell Architects & Planners and interior design by internationally-acclaimed designers Marmol Radziner and Associates. The residences at The Waverly, located at 1705 Ocean Avenue, range from $995,000 to over $7 million. The residences at The Seychelle, located at 1755 Ocean Avenue, range from $1.3 million to $12 million. To learn more, please call the onsite Ocean Avenue South Sales Gallery at 310.394.1100 or visit online at WaverlySantaMonica.com and SeychelleSantaMonica.com
Related Companies has a reputation developing properties heralded for world-class locations and for setting record prices in numerous markets including Los Angeles (The Century), Manhattan (Time Warner Center, One Central Park, The Residences at the Mandarin Oriental, One Madison, Superior Ink and The Harrison), and Boston (The Clarendon).
About Related California Related California (www.relatedcalifornia.com) is a fully integrated real estate firm that develops affordable and market rate multifamily and mixed-use residential properties in California. Since opening the west coast headquarters in 1989, the company has completed nearly 9000 residential homes throughout California. Related has partnered with over 20 municipalities in Northern California (San Francisco, Oakland, Richmond, San Jose) and Southern California (Los Angeles City, Los Angeles County, Orange County, San Bernardino County, San Diego City and San Diego County). The Related California portfolio includes more than $2.5 billion in developments.
About Related Companies Related Companies is the most prominent privately-owned real estate firm in the United States with an existing portfolio of real estate assets valued at over $20 billion. Formed 40 years ago, Related is the nation’s preeminent developer of luxury residential properties having pioneered the concept of commissioning celebrated architects to design residential properties by selecting Robert A.M. Stern to plan his firm’s first luxury condominium, The Chatham. In the development of Time Warner Center, Related combined super-luxury residences, the Mandarin Oriental hotel and residences, Jazz at Lincoln Center, stylish retail and the city’s finest collection of four-star restaurants, redefining sophisticated metropolitan living in New York and trademarking the term “Five Star Living.” Related also owns Equinox(R) Fitness Clubs, further enhancing the value of its properties by incorporating an exclusive, branded amenity into the lifestyle offering, and a partnership interest in Danny’s Meyers Meyer’s Union Square Hospitality Group. For more information about Related Companies please visit www.related.com. www.waverlysantamonica.com.