The Last Permitted High-Rise to be Built on the Wilshire Corridor

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The Carlyle is bringing the ultimate in elegant, first-class living to the heart of Los Angeles at the center of the Wilshire Corridor’s “Golden Mile”. A 24-story crescent-shaped building with 78 private luxury residences ranging in size from 2,700 – 5,000 sq. ft., each with its own private elevator entrance. Internationally renowned fashion brand Fendi Casa is designing sleek, elegant and modern furnishings for all the common spaces at The Carlyle, creating a truly couture environment for residents and their guests.

The last permitted high-rise on the Wilshire Corridor, The Carlyle Residences, is destined to be its most opulent and outstanding development with the highest level of finishes and amenities. The building is scheduled for completion in the first quarter of 2009.

According to Miki Naftali, CEO of Elad Properties, “There is a significant appetite for high rise luxury living in Los Angeles and we are bullish that this will continue to grow at the top of the market – where buyers are looking for the best properties, highest quality and service, while simplifying living.”

With 24-hour white glove concierge service modeled after a luxury hotel, and amenities including a fitness center powered by The Sports Club LA, membership to The Regency Club, a private wine cellar and dining room, club room, private pool and outdoor garden area, a custom-designed Dale Chihuly glass sculpture and design concepts and furnishings by Fendi Casa, the Carlyle literally elevates life to new heights.

Elad Properties has made a serious commitment on the West Coast, including the relocation of Chief Operating Officer Thomas Elliot to Los Angeles to oversee all of the West Coast ventures for the company.

“The opportunity to enter the Los Angeles market in such a superb location, with a building that offers sweeping views of the Santa Monica mountains and the Pacific Ocean, reflects our continuing strategy of selecting the best sites in highly competitive markets for the highest end luxury development,” said Thomas Elliott, COO of Elad Properties West of their first Los Angeles venture.

Responsible for the record-setting and highly acclaimed renovation of the landmark Plaza Hotel in New York City, Elad consistently crafts classic, timeless, award-winning residences and The Carlyle represents the latest chapter in their portfolio of exclusive properties. Elad is one of the premier luxury residential developers in the world, with an international portfolio of more than $7.5 billion. In North America, the company has a major presence in New York and Florida as well as Chicago, Dallas, Canada and had made recent acquisitions in Las Vegas. Overseas, Elad’s Norman Foster-designed Beach Road project is currently one of the most anticipated mixed-use developments in Singapore.

Earlier this year Elad purchased the 34.5-acre site of The New Frontier on The Strip in Las Vegas, which was recently demolished to make way for development of the Plaza Las Vegas. Mr. Naftali describes the site as “the last and best available prime site in Las Vegas.” Plans call for a multi-use development including a six-diamond hotel with the Plaza brand, ultra luxury residences, a casino, the Plaza retail collection, convention space and destination restaurants.

Elad also looks forward to bringing the Plaza brand to other destination cities in the near future, such as Beverly Hills, San Francisco, Washington DC, Boston, London, Paris, Tokyo and Shanghai.

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