CBRE Announces Sale of 18-Unit Luxury Residential Building on Wilshire Boulevard’s “Golden Mile” for $28 Million

CBRE and Carolwood Estates brokered the sale of Utama Royale, a luxury, 18-unit multifamily building located at 10351Wilshire Blvd. between Beverly Hills and Westwood.

The property was acquired by the LLCs’ spearhead, Sean Daneshgar, for $28 million. CBRE's Executive Vice President, Laurie Lustig-Bower, and First Vice President, Kamran Paydar, and Carolwood Estates’ Estates Director, Barbara Duskin, represented the seller, Devonshire Delaware, Inc.

“A true trophy asset, Utama Royale is an elegant and distinctive residential building that offers an exceptional investment opportunity with tremendous upside,” said Ms. Lustig-Bower. “The building’s premier location, spacious units, and amenities make it one of the most desirable residences in Southern California.”

“CBRE’s marketing campaign generated significant investor interest in Utama Royale resulting in nearly 20 offers,” added Paydar.

The property offers 17 generously sized three-bedroom, three-and-a-half-bath units, four of which are penthouse units, and a one-bedroom unit. Each of the three-bedroom units have a separate, private +200 sq. ft. storage room. Communal areas and amenities include an executive lounge club room with a billiard table, entertainment center, full kitchen, bar, and a fireplace, as well as a fitness center, spa, and subterranean garage parking with controlled access.

Within a mile and a half to world famous Rodeo Drive, Utama Royale offers residents convenient access to luxurious shopping, dining, entertainment, cultural institutions, and coastal recreation. Employer concentrations in Class A office buildings and creative media/technology office campuses in Century City, Culver City, Beverly Hills, Santa Monica, and West Hollywood are within convenient driving distance.

About Carolwood Estates
Carolwood Estates is a newly formed boutique brokerage of 150 elite agents focused on the highest segment of the residential market. Carolwood maintains a dominant share of the $20 million and above residential space in Los Angeles with $1.6 billion in sales in 2023 and $2 billion in current inventory. While headquartered from its penthouse office in Beverly Hills, the firm recently expanded its horizons by opening a Montecito location, launching a commercial division, cofounding Private Escrow, and signing top agents operating out of Newport Beach and Toluca Lake. Named “Team of the Year” in 2023 by The Hollywood Reporter, Carolwood’s agents represented the highest residential sales of the year in the city of Los Angeles, Beverly Hills Post Office, Los Feliz, Broad Beach, Point Dume, Holmby Hills, Brentwood, the Valley, Santa Monica and the Hollywood Hills. Visit us at www.carolwoodre.com to learn more.