Unit sales have begun for the six-story, mixed-use concrete building at 17351 Sunset Blvd., located just north of Pacific Coast Highway and now officially called the Rockwell.
The 47,802-sq-ft. building, vacant for five years before being purchased by 9 Mile Investment, was listed for $8.4 million and was in foreclosure at the time of purchase. Adam Pasori, chief executive officer of the Santa Monica-based Cedar Signature Homes, originally purchased the building in 2006 and started renovation work.
However, a year later, Pasori was killed, along with five family members, in a plane crash in the Sierra foothills, leaving the remodel incomplete. The building was then taken over by MKG Capital, which held the trust deeds until the 2011 foreclosure.
Jake Mathews, whose company purchased the property from U.S. Bank on March 16, 2011, told the Palisadian-Post previously that he planned to renovate the building, across from Vons. The complex, which neighbors say had been the site of homeless encampments and illicit activities, now features state-of-the-art technology, 10 single-level residences and six penthouse townhomes.
“We are hoping to sell our first unit at the end of May and have the first occupant in by July,” said Dawn Bramlette Hartley of Partners Trust, whose brokerage firm is handling the sales for Rockwell.
Individual sale prices for the luxury penthouses and condos range from $1.3 million to $2.9 million. This does not include the $700 to $900 in homeowners’ association dues, Hartley said. The HOA fee “will be used for upkeep of the building and common space,” she added.
The ground floor will also include two commercial neighbors: Studio K, a private gym and training studio; and Fiore Gardens, a garden and floral design store. Residents who purchase a Rockwell unit will receive a year’s free membership at Studio K and 50 percent off from then on, Hartley said. “There is a limited membership of 300.”
Hartley said the building’s owners are hopeful this will be the first step in beautifying the area. She described the modern feel of the building as “refreshing and not so vanilla.”
The building’s units range from an artist loft-studio to three-bedroom living spaces, including some units with private elevators. Floors five and six feature six two-story townhouses with ocean views, decks and private backyard patios and hillside gardens, Mathews told the Post previously. “Some will have a loft space with a reading library.”
Mathews, who grew up in Hollywood, is a graduate of UC Berkeley and received his MBA from UCLA. He founded Sonoma-based 9 Mile Investments in 2009, but now wants to move to Pacific Palisades because “it seems like a great place to start a family.” He previously told the Post that he would be living in one of the larger units with his family.
Most of the units combine expansive skylights and voluminous ceiling heights in their design. Other features include a private security system for each residence, home automation control systems, secure underground parking, and outdoor kitchens and fireplaces in select units. Each unit features custom cabinetry, marble countertops, handcrafted Moroccan tile work, reclaimed white oak, exposed concrete walls and custom chef’s kitchens.
The highest-priced unit in the complex, a 3,141-sq.-ft. penthouse with three bedrooms and three-and-a- half bathrooms, is listed for $2,895,000 (plus $919 in HOA dues). One of the lowest-priced units, a 364-sq.-ft. single-residence with one bedroom and two bathrooms, is listed for $895,000 (plus $729 in HOA dues). The building does not include a pool, a doorman or a 24-hour security guard.
“We are looking for sophisticated buyers from all across the board,” Hartley said. “Everyone has been blown away by the quality and how well done these units are.”
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