LOS ANGELES, CA- AUGUST 31, 2015- Related California proudly announced the recent sale of the penthouse at The Seychelle. At $9,000,000, this sale has set a new record-high benchmark for the Santa Monica condominium market, recording just under $3,000 per square foot. The previous sales record came from a penthouse at The Waverly, an adjacent luxury condominium building developed by Related on the same 3.7-acre site, which recorded a sale of $2,226 per square foot. Prior sales have never surpassed $2,000 per square foot on coveted Ocean Avenue.
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, a new neighborhood injecting vitality into a previously quiet, untapped corridor of Santa Monica and connecting Main Street to 3rd Street. The Seychelle and The Waverly have demonstrated strong sales activity and collectively achieved the 85% sales mark.
“We are thrilled with the market response at both The Seychelle and The Waverly. The residences at these properties represent the very best in luxury living, offering every lifestyle and service amenity our sophisticated and discriminating buyers have come to expect,” said Gino Canori, Executive Vice President for Related California Residential. “Ocean Avenue South has redefined the iconic coastal town of Santa Monica offering not only an unprecedented residential offering, but upscale retail and a variety of notable restaurants, including famed Los Angeles institution Joan’s On Third Santa Monica, Hakkasan Group’s Herringbone Santa Monica and an exciting vegan restaurant eLOVate, by Chef Roberto Martin.”
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.
Rising a dramatic 10 stories skinned in glass, The Seychelle offers 93 condominiums with interiors by Clodagh Design International 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 Waverly’s 65 residences epitomize urban beach living, with thoughtfully-designed finishes by Marmol Radziner accented by panoramic views overlooking the treetops of Tongva Park out to the iconic Santa Monica Pier and Pacific Ocean. The array of resident amenities includes a 5th floor Skybridge lounge for resident gatherings, a state-of-the-art fitness center, attended lobby, pet spa and onsite subterranean parking. Ocean Avenue South is bordered by the newly opened $47 Million, 6-acre Tongva Park created by the designers of New York City’s High Line. The community 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, start at $1,250,000. The residences at The Seychelle, located at 1755 Ocean Avenue, start at $1,415,000 with penthouses starting at $4 Million. To learn more, please call the onsite Ocean Avenue South Sales Gallery at 310.394.1100 or visit online at SeychelleSantaMonica.com and WaverlySantaMonica.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).