LOS ANGELES — Just when we thought the real estate market had cooled, along comes evidence that in the land of make-believe, there is no ceiling.
My colleagues Roger Vincent and Andrea Chang have reported in the last few days that even the humble condominium, which once was sort of like a starter house on training wheels, is going for astronomical sums.
Vincent reports that in Beverly Hills, developers of a 17-unit complex hope a single condo can bring about $40 million. That's a bit steep for me, but I don't want to rule it out because the features include a butler's pantry, a full bar in the entertainment room and a 2,500-square-foot terrace.
