A penthouse under construction in Beverly Hills is expected to sell for $200 million, potentially setting a new record for condominium sales in the Los Angeles area, according to the developer. The residence is part of the Aman Beverly Hills development, which includes two condo towers alongside a 78-room Aman hotel.

The penthouse will occupy half of the top two floors of the 28-story tower, offering approximately 16,810 square feet of indoor living space and about 14,265 square feet of outdoor areas, including a rooftop terrace and two private swimming pools. It is currently reserved, with a buyer having paid a partial deposit, though their identity has not been disclosed. Both penthouses in the development will be similarly sized.

Situated on a 17.5-acre site near Rodeo Drive, Aman Beverly Hills is designed by Kerry Hills Architects and is part of the larger One Beverly Hills project. The first tower will feature 69 units, with starting prices around $20 million for a 3,600-square-foot, two-bedroom residence.

Condo owners will have access to a 100,000-square-foot private club, as well as the hotel’s spa, fitness center, and restaurants. Each condominium unit in the building will also include its own private pool.

The developers, Cain Development and the OKO Group, co-led by Vladislav Doronin, view the $200 million asking price as a strong value, pointing to a perceived robust market for high-end condominiums of this caliber. The development is being completed in partnership with Eldridge Industries, founded by Todd Boehly, a co-owner of the Los Angeles Dodgers. Completion is planned in phases beginning in 2028.

Despite these projections, some industry experts are cautious. Michael Nourmand of Nourmand & Associates noted that Los Angeles has traditionally favored single-family homes, emphasizing indoor-outdoor living and detached residences. While he acknowledged the Aman project may break new ground and set price records, Nourmand characterized the $200 million figure as “overly ambitious,” especially given that no nearby single-family home has sold for that amount. The current record for a single-family home in the area is $165 million, set by the Warner Estate in 2020.

Sales at Aman Beverly Hills have already reached substantial figures. In June, a buyer agreed to acquire a full-floor unit for $107 million, with additional buildout costs. Other units priced at $46 million and $39.8 million are also under contract. Nearly $1 billion worth of condos within the development have been reserved or sold since sales began in early 2025.

The developers have established a sales suite at the adjacent Beverly Hilton and Waldorf Astoria Beverly Hills hotels to market the condominium units. The Aman brand, which operates 36 properties globally, including a New York City flagship where Doronin recently purchased a penthouse for $135 million, aims to position this project as its most significant U.S. property.

Meanwhile, the broader Los Angeles real estate market has experienced some cooling, with condo sales declining 1.3% in the second quarter of 2026 compared to the previous year, and median condo prices slipping 2.3% to $723,000, according to Sotheby’s International Realty data.

Developers believe the amenity-rich, low-maintenance nature of the residences will appeal to affluent buyers, particularly local residents looking to avoid the city’s mansion tax and potential statewide wealth tax. “This is the type of home where you can really just lock it up and go,” said Larry Green, senior managing director at Cain Development, describing the lifestyle appeal for those seeking a second or seasonal residence.