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Hot Property: Luxury condos offered in bulk or individually via sealed bid

December 15, 2010 | 11:15 am


Trying a different approach to selling luxury condos, Kennedy Wilson will be accepting sealed bids Dec. 20 for multiple units throughout Southern California that can be bid on individually or as larger lots.

The most noteworthy offering is 7 Fountains, a courtyard condominium development off Sunset Boulevard in West Hollywood consisting of 20 residences.

Irvin Willat, a silent-film director and studio head, owned an estate on the site, where he entertained Hollywood luminaries. The property, which has been in the Willat family for a century, was redeveloped in 2002 by his son, Boyd Willat, in an Old World Spanish architectural style. The units have been rentals until now.

Andrew Levant, senior vice president at Kennedy Wilson, could see a single buyer using the development as a family compound or corporate retreat. The suggested bid range is $16 million to $20 million.

Details on the other properties in Pasadena, Rolling Hills Estates, Brentwood and West Los Angeles are on the website.

-- Lauren Beale

Photo: The West Hollywood residences face in on courtyard space. Credit: Tim Street-Porter