Friday, February 22, 2008

Century City condo unit sells for a record $15 million

A unit on the 38th floor of a still unfinished luxury condo tower in Century City, California sold recently for a record $15 million, but the new owner still won't get a view from the top.

Four flights up, the asking price for the penthouse is $30 million.

On Thursday, the developer of the Century high-rise said an unidentified local buyer had agreed to pay $2,700 per square foot for a unit filling half of the 38th floor. The 42-story tower is under construction next to the Hyatt Century Plaza Hotel on Avenue of the Stars.

In spite of plunging residential prices across much of the nation, home values in many wealthy enclaves continue to grow

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