Multifamily Mansions Hit Los Angeles

Los Angeles is known for sprawling estates, but as the city shifts toward density, mansion-style living is taking on a new look. Developer Astéras is completing Astéras Kings, a new 25 residence multifamily project in West Hollywood. The property features minimalist design with high-end features akin to Los Angeles most prestigious single-family communities as well as services and amenities.

“We wanted to take the idea of the Hollywood Hills-style of living into the multi-unit building setting, and we wanted to do that by incorporating natural materials, minimal design and spaces that blurred the indoors and the outdoors,” Demetri Darmos of Astéras, tells GlobeSt.com. “We have taken the best elements of having a house up in the hills with the best elements of multi-unit boutique living.”

The developer saw demand for high-end, mansion-style living and an absence of product in the rental market for this niche. “We felt that there was really a void in the marketplace for a property like this,” Peter Darmos of Astéras tells GlobeSt.com. “Early on, we really didn’t see a lot of product out there that incorporated these features, but we really felt that there were a lot of opportunities in Los Angeles for this product.”

There is strong demand for this style of living, particularly among professionals that can afford high-end living spaces but don’t want the responsibility of a single-family home. “We find that people that want to live in a high-end multi-unit building are often bi-coastal or having very demanding work responsibilities, and they love the idea of living in a place that doesn’t require upkeep or maintenance,” says Demetri. “They also seek certain support services, like concierge service and focused amenities that wouldn’t be available in a single-family setting.”

The amenities at the project range from a theater and sundeck lounge to pet wash and car detailing. While the property screams luxury, many developers today have used the word luxury to describe lower-end projects. As a result, the developers are hesitant to use the phrasing to describe Astéras Kings. “The word luxury used to describe buildings all over the map, and we don’t actually like to use the word luxury to describe Areas Kings,” says Demetri. “We feel that it should be up to the resident to decide. We like to employ sophisticated architecture and timeless materials to create true minimalist spaces that embrace the outdoors. We like to take great care to look at the smallest details in each space.”

Douglas Elliman Development Marketing is exclusively handling the leasing at the property, and there is already strong interest. “We are in the early stages of marketing, but demand has been strong,” says Peter. We are already getting a lot of inquiries and a lot of communication through social media. There has been a strong interest, and we are pretty excited.”

While Astéras is a pioneer in bringing vertical-style mansion living to Los Angeles, the developer believes that more are on the way. “We think that it will come into pockets of Los Angeles,” says Peter. “I think there is a good opportunity for vertical living.”