LA’s Priciest Apartment Deal in Years Just Closed in Brentwood
Institutional Property Advisors (IPA), a division of Marcus & Millichap, has purchased a luxury apartment complex in Brentwood for $58.1 million, according to a press release. This marks one of the highest price-per-unit sales in Los Angeles in more than three years.
Known as The BW, the 78-unit mixed-use property, which includes 2,300 square feet of ground-floor retail, changed hands at approximately $744,872 per unit—a record-breaking figure for an institutional-scale transaction over $30 million in the city.
IPA’s Kevin Green, Joseph Grabiec, and Gregory Harris represented the seller, California Landmark Group, and secured the buyer, FAMH Group Ltd.
“The BW is located in one of California’s most affluent rental markets, where demand for luxury housing remains strong,” said Green, executive managing director of investments at IPA. “In Brentwood, the median single-family home costs over $3.6 million, and nearly half the residents are renters. The average annual household income tops $213,700.”
Situated at the corner of Wilshire Boulevard and Barrington Avenue, The BW is surrounded by dining, shopping, and entertainment options. Within a two-mile radius, approximately 8 million square feet of office and creative space are occupied by major companies, including Hulu, HBO, Lionsgate, Riot Games, and Activision.
The broader Westside Los Angeles region is home to nearly 600,000 jobs, with over 140,000 located within the immediate Brentwood area. The building also offers convenient access to Interstates 405 and 10.
Originally completed in 2013, The BW features a mix of studio, one-, two-, and three-bedroom residences. Units are outfitted with stainless steel appliances, in-unit washers and dryers, soaking tubs, walk-in closets, and floor-to-ceiling double-pane windows. Residents also enjoy amenities such as a rooftop lounge with a Jacuzzi, a fitness center, a business center, electric vehicle charging stations, and secure on-site garage parking.
