Hollywood condo complex becoming upscale home to Gen Xers

Making it in Hollywood has a different connotation to some of the Generation Xers seeking a sense of communal living along with shopping, bars, clubs, restaurants and culture outside their frontdoor. To these 28- to 43-year-olds, living near Hollywood and Vine (there are about 2,500 new upscale condos and apartments around that famed intersection) -- means they’ve arrived.

The recently opened Hollywood, a 54-unit condo project on Yucca Street, is a stone’s throw from the massive Hollywood & Highland Center, a shopping and entertainment complex that houses the Kodak Theatre. Designed by Los Angeles architect Stephen Kanner (known for the Metro Hollywood Transit Village at Hollywood Boulevard and Western Avenue) for Metro Modern Developers, the Hollywood has modern European urban appeal, featuring the high-ceiling, light-drenched look of lofts but with defined rooms.

“This living appeals to young, hip, successful businesspeople or artists,” Kanner said. “Most people moving into The Hollywood are in the movie, fashion and design industries. And a pair of magicians moved in too.”

Location: Hollywood

Asking price: From $651,000 (for a two-bedroom, 2 1/2 -bath unit in 1,160 square feet) to $2,146,000 (for a two-story, three-bedroom, 3 3/4 -bath penthouse in 1,973 square feet, plus an outdoor terrace).

Size: The unit pictured here is the highest-price penthouse.

About this complex: The first four floors of the building have one-story units with large windows and recessed balconies. The upper-level units are two-story town homes, many with downtown, Hollywood and ocean views. Resident Sulekha Naidu, 31, who works for an interior design company, says she was attracted to the high-end amenities in her two-bedroom condo, which she purchased in December for $800,000 (plus $400 per month in association fees). She also likes the neighborly social networking that takes place in the communal areas. “I feel like I’m in New York City here. I can take the Metro and the neighborhood is attractive.”

Additional features: The condos have walnut hardwood and terrazzo stone floors, large master suites, fireplaces and balconies. The kitchen have CaesarStone countertops, stainless-steel appliances and floating cabinetry by Pedini. The complex has a pool, a gym, sports lounge and 24/7 security. There are two parking spaces per resident and 27 guest spaces in the two-level garage, which was painted by 18 European and 12 American graffiti artists.

Around the neighborhood: Thirty-two new and resale single-family and attached homes have sold in the 90028 ZIP Code through July of this year, according to MDA DataQuick. The median price was $522,500. In 2007, the median price during that time period was $685,500. About 400 condos and town homes are listed for sale in the neighborhood bordered by Gower Street and La Brea Avenue, and Franklin Avenue and Sunset Boulevard. The least-expensive, at $490,000 (plus $653 a month in association fees), is a one-bedroom, one-bathroom condo in 850 square feet. The most-expensive is The Hollywood’s penthouse.

Sales agent: Maryann O’Donnell, (323) 462-4200

For information: Visit LivetheHollywoodNow.com