From Mansion to Condo

According to the New York Times, more than half of recent home sales in Los Angeles are condos, as density around transit, particularly downtown, becomes de rigeur.

1 minute read

August 22, 2008, 9:00 AM PDT

By Tim Halbur

"Candy Spelling, widow of the television producer Aaron Spelling, is downsizing.

After nearly 20 years in The Manor, a 56,500-square-foot French chateau-style home known for its size and extravagance - it includes a wine-tasting room, a bowling alley, a silver room, a china room and a well-known gift-wrapping room - she says she is ready for the next trophy property: a condominium.

'People say, How can you move from The Manor? There's no place like it,' Mrs. Spelling said, sitting in the library with leatherbound scripts of every episode of Mr. Spelling's shows, from 'Charlie's Angels' to '7th Heaven.'

But a condo, she said, 'is no different than a house, maybe even better.'

Mrs. Spelling is the most conspicuous buyer in an ultraluxury condo market that is new in the sprawl of Los Angeles, where wealth and fame have usually spelled out "estate," not apartment living."

FULL STORY: Downsizing in Los Angeles: Mansion to Condo

Thursday, August 21, 2008 in The New York Times

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