$10B building update | New York Post | Real Estate Market Insights

Forget the Hollywood signal — the latest landmark in Tinseltown is a $10 billion pile of filth that’s about to turn out to be one of the most exclusive addresses on the planet.

The huge One Beverly Hills project has formally gotten off the ground, promising to show a 17.5-acre slice of prime real estate into an “urban resort” so opulent that it’ll make Rodeo Drive look low cost.

Construction underway for One Beverly Hills. Andy Johnstone for NY Post

The property covers 17 acres and is situated proper next to the Beverly Hilton. Andy Johnstone for NY Post

Over the weekend, 3,800 cubic yards of concrete have been repeatedly poured, marking the basis for the tallest towers in Beverly Hills.

With a jaw-dropping $10 billion valuation, this isn’t just another apartment advanced; it’s a fortress of solitude for the super-rich. The development is ready to feature the first Aman lodge on the West Coast, an ultra-luxe hospitality model beloved by the likes of Bill Gates and the Kardashians.

The towers can be the tallest in the 90210 zip code. Foster + Partners

The website of the $10 billion One Beverly Hills project at the intersection of Wilshire and Santa Monica boulevards in Beverly Hills, Calif. Andy Johnstone for NY Post

The project will embody two glass towers of Aman-branded residences, the place entry-level condos start at about $20 million, and a penthouse can value you north of $40 million. The website will also boast a 100,000-square-foot non-public club, plus dozens of designer shops and top-notch eating.

The rumored price of admission? A $200,000 initiation charge and $20,000 in annual dues.

“I think it will be the nicest condo building in LA, if not the United States,” a real estate insider told The Post. “But it makes no sense. The pricing is estimated at $7,000 per foot. So a 4,000-square-foot condo will cost $28 million. I think people would be foolish (if solely looking at it as an investment) to spend more than $4,000 per foot.”

A rendering of the accomplished project. Foster + Partners

The development is the brainchild of Cain International, OKO Group, and local powerhouse Alagem Capital Group, led by Beny Alagem. They’ve spent a vital quantity of time and money battling for approval from the metropolis of Beverly Hills to remodel the website, which sits at Wilshire and Santa Monica boulevards.

When completed just in time for the 2028 LA Olympics, the advanced can be a self-contained ecosystem of wealth, full with 10 acres of botanical gardens and open inexperienced space — with 4.5 of those acres open to the public — and 200,000 sq. ft of retail space.

Expected to be accomplished in 2027, it should bridge the neighboring Beverly Hilton and Waldorf Astoria accommodations, housing all of them in the same oasis of a compound.

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The real estate market is one of the most highly effective wealth-building industries in the world.
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