Forget the Hollywood sign — the newest landmark in Tinseltown is a $10 billion pile of dirt that’s about to become the one of the most exclusive addresses on the planet.
The massive One Beverly Hills project has officially gotten off the ground, promising to turn a 17.5-acre slice of prime real estate into an “urban resort” so opulent that it makes Rodeo Drive look cheap.
Over the weekend, 3,800 cubic yards of concrete were continuously poured, marking the foundation for the tallest towers in Beverly Hills.
With a jaw-dropping $10 billion valuation, this isn’t just another condo complex; it’s a fortress of solitude for the super-rich. The development is set to feature the first Aman hotel on the West Coast, an ultra-lux hospitality brand beloved by the likes of Bill Gates and the Kardashian’s.
The project will include two glass towers of Aman branded residences, where entry-level condos start at about $20 million, and a penthouse can cost you north of $40 million. The site will also boast a 100,000 square foot private club, plus dozens of designer stores and top-notch dining.
The rumored price of admission? A $200,000 initiation fee and $20,000 in annual dues.
“I think it will be the nicest condo building in LA, if not the United States,” a real estate insider told The Post. “But it makes no sense. The pricing is estimated at $7,000 per foot. So a 4,000-square-foot condo will cost $28 million. I think people would be foolish (if solely looking at it as an investment) to spend more than $4,000 per foot.”
The development is the brainchild of Cain International, OKO Group, and local powerhouse Alagem Capital Group, led by Beny Alagem. They’ve spent a significant amount of time and money battling for approval from the city of Beverly Hills to transform the site, which sits at Wilshire and Santa Monica Boulevards.
When finished just in time for the 2028 LA Olympics, the complex will be a self-contained ecosystem of wealth, complete with 10 acres of botanical gardens and open green space–with 4.5 of those acres open to the public–and 200,000 square feet of retail space.
Expected to be completed in 2027, it will bridge the neighboring Beverly Hilton and Waldorf Astoria hotels, housing them all in the same oasis of a compound.
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