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record-breaking deal has been made in Los Angeles' luxury condo market, with a top-floor penthouse at Beverly West selling for $23.5 million. This sale marks the city's priciest condo deal of the year and inches the high-rise closer to full sellout. The 8,000-square-foot unit boasts four bedrooms, seven bathrooms, floor-to-ceiling glass walls, and a 360-degree view of the ocean, city, and mountains.

    The property was sold by Emaar North America, represented by Compass' Sally Forster Jones, Christie's International Real Estate Southern California's Tomer Fridman and Amir Ensani. The trio has sold over $100 million at Beverly West in the past seven months. The buyer was represented by Carolwood Estates.

    Despite concerns about the city's Measure ULA property tax, which went into effect in April 2023, the sale still pencils out. The tiered fee assesses a 4 percent tax on properties that sell for $5.15 million or more and 5.5 percent on those sold for $10.3 million and up.

    This sale is also the second-priciest condo trade in Los Angeles County, behind the $24 million sale of a penthouse at 8899 Beverly Boulevard earlier this year. The average third-quarter sale prices of condos across Los Angeles County were down 2.4 percent from last year to $1.3 million, with 506 sales totaling in the quarter, a decrease of about 1 percent from the previous period.