Beverly West, a luxury 22-floor condominium located across from the Los Angeles Country Club, is launching a new round of sales. Seventeen units have been released on the market this week, with one possibly setting a new price-per-square-foot record for the city, according to the exclusive listing agency, Hilton and Hyland.
Pricing for the 17 units ranges from $3.54 million to $12.15 million. The most expensive, Unit 16S, has 4,158-square-feet of living space featuring Armani Casa interiors with panoramic views.
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If the apartment sells at the asking price of $12.15 million—about $2,922 per square foot, it could be the most expensive unit price for the city for a new condominium, according to Jeff Hyland, president of Hilton and Hyland, who handles the sales with Bill Simpson and Mia Trudeau from the same brokerage.
In 2016, a penthouse in a new condominium in Santa Monica was sold for $7.75 million, or $2,549 per square foot, the highest per-square-foot price for a new condo in Greater Los Angeles, according to Jonathan Miller, chief executive of appraisal firm Miller Samuel.
As vertical living becomes trendier in Los Angeles, the price per square foot in luxury condominiums has been inching toward of $3,000, Mr. Hyland said.
According to Mr. Miller's latest quarterly report compiled on behalf of brokerage Douglas Elliman, the average per-square-foot price for luxury new condos in Los Angeles stood at $1,095 in the final quarter of last year, a 14% increase year-over-year.
In addition, it took an average of 70 days to sell a luxury condo unit in Los Angeles during the fourth quarter, down from 82 days during the same quarter in 2015, data from the same report showed.
All indicators are signaling a more robust market condition, Mr. Hyland said, and Beverly West is taking advantage of it, especially since turn-key luxury condos are rare and coveted.
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So far, Beverly West has sold 13 of the total 35 units. The remaining five full-floor penthouses are slated to be released later this year, said Eric Jencks, director of planning and design for Emaar North America, a subsidiary of Dubai-based Emaar Properties, which is also behind Burj Khalifa, the tallest building in the world.
Beverly West’s building amenities include a fitness center, a saltwater pool and a sunbathing deck. Most floors only have two apartments, which are accessible from private elevators.
Write to Fang Block at fang.block@dowjones.com