The demand for luxury apartment living in Los Angeles is at an all-time high, and taking it to the highest level is The Penthouses at Palazzo, which is currently undergoing a $15.7 million redevelopment of its 115 2-story apartment homes.
The project includes full transformation of each home into a luxury penthouse with expanded living space, premium hardwood flooring throughout, and upgrades such as high-end appliances and an oversized master shower with two side-by-side rain shower heads. The penthouses are complemented with exclusive, resort-like amenities that include a rooftop social deck with cabanas, state-of-the-art fitness center, luxurious spa and year-round heated swimming pool.
Frontpage Feature: The Penthouses at Palazzo were spotlighted in the LA Times in a story about the growing demand for ultra-luxurious apartments.
“The Penthouses at Palazzo is a hidden gem in Los Angeles, offering a luxury lifestyle that is very much in demand right now,” said Mauricio Umansky, CEO and co-founder of The Agency, the luxury real estate brokerage handling the marketing for The Penthouses at Palazzo.
“The renovations and upgrades make living here like living year-round at a 5-star resort, with high-end finishes that rival a house in the Hollywood Hills; yet, they are located just steps away from everywhere you want to be, from the best shopping venues at The Grove to the cultural epicenter that is LACMA.”
Residents of The Penthouses at Palazzo have exclusive access to a new rooftop social deck with views of the Hollywood Hills. A covered fireplace lounge and serving area with granite counters provide the perfect place to host intimate affairs while three cabanas with flat-screen TVs and cushioned seating offer a relaxing atmosphere for unwinding.
Penthouse residents can also spoil themselves at The Spa at Palazzo, which offers luxurious services including massage, body treatments, facials and wraps using organic beauty products by Éminence and Epicuren. For further well-being, residents can take advantage of the spacious fitness center, which offers fitness classes and personal training for one-on-one sessions. For residents craving sun and relaxation, the resort-size outdoor swimming pool offers plenty of cushioned lounge seating and an always-comfortable temperature.
Apartment Investment and Management Company (“Aimco”), the owner of The Penthouses at Palazzo, began the renovations in Summer 2012, and as of November 8, 2013, 45 apartments have been transformed into luxury penthouses. The company expects to have 70 more penthouses completed by 1st qtr 2015.
“At The Palazzo Communities we pride ourselves on exceptional customer service and providing an extraordinary lifestyle for our residents,” said Didi Meredith, Regional Vice President of Aimco.
The Penthouses at Palazzo are located in the desirable Wilshire area directly across the street from The Grove, home to Southern California best high-end shopping venues. Residents also benefit from proximity to beautiful Pan Pacific Park, the Original Farmers Market and the Miracle Mile District featuring attractions like the La Brea Tar Pits, LACMA, Petersen Automotive Museum and A+D Architecture & Design Museum.
