LA’s elite ‘Plat­inum Tri­an­gle’ to get new lux­ury home project

Financial Mirror (Cyprus) - - FRONT PAGE -

Domvs Lon­don, a de­vel­oper of ul­tra-prime res­i­den­tial prop­erty, has formed a joint ven­ture with Junius Real Es­tate Part­ners, a real es­tate in­vest­ment unit within J.P. Mor­gan Pri­vate Bank, to ac­quire a prime 11-acre site within lower Bel Air known as The Park Bel Air.

The ven­ture seeks to de­liver the finest liv­ing ex­pe­ri­ence in the world for a se­lect few, through the cre­ation of three grand es­tates. The es­tates, lo­cated at the heart of Los An­ge­les’ pres­ti­gious ‘Plat­inum Tri­an­gle’ (Bel Air, Bev­erly Hills, and Holmby Hills), will ac­com­mo­date per­son­alised turnkey homes per­mit­ted for up to 61,000 sq.ft. each, of­fer­ing pri­vacy, se­cu­rity, and Pa­cific Ocean, city and canyon views.

“Es­tates of this cal­i­bre in Los An­ge­les rarely come to mar­ket, let alone a col­lec­tion of three in old Bel Air pre­sented as thought­fully as The Park Bel Air. De­mand for prop­er­ties at this end of the mar­ket, both do­mes­tic and off­shore, con­tin­ues to out­strip sup­ply. No one should be sur­prised to see the trend for prime prop­erty sales above $50 mil­lion in the Plat­inum Tri­an­gle con­tinue,” said Kurt Rap­pa­port, Co-founder and Owner, West­side Es­tate Agency.

“When com­pared to other ul­tra prime prop­erty mar­kets such as New York, Lon­don or Monaco, prop­er­ties of this qual­ity, spec­i­fi­ca­tion and demon­stra­ble value are sur­pris­ingly rare at the high­est end of the Los An­ge­les res­i­den­tial mar­ket,” said Jon O’Brien, Founder and CEO, Domvs Lon­don.

Hav­ing se­cured fi­nal per­mits just prior to the adop­tion of new City of Los An­ge­les re­stric­tions on large home de­vel­op­ments, The Park Bel Air rep­re­sents pos­si­bly one of the last re­main­ing op­por­tu­ni­ties to de­velop homes of this qual­ity and scale in Bel Air.

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