With a Rent of $17,000 a Month, the Astéras Kings May Set a New Record for WeHo Apartments

Illustration of the Astéras Kings apartment building, still under construction at 838 N. Kings Rd. (Illustration courtesy of Darmos Properties)

While the project isn’t yet completed, the developer of the apartment building at 838 N. Kings Rd. already is advertising units for rent.  One bedroom can be rented for $6,750 to $11,500 a month. The rent for a two-bedroom unit is $17,000. There are 25 apartments, ranging from 703 to 1856 square feet in size.

That would put the building, branded as Astéras Kings, on the very high end of rentals in a city that promotes its commitment to affordable housing but also is the third most expensive for renters in Southern California. That is according to a report by Rent Café, which cites a survey that found the average monthly rent in West Hollywood is $2,856. Santa Monica has the highest rent, according to the survey, at $3,929 a month, followed by Marina del Rey at $3,512 a month. Those figures do not include rents paid for affordable-housing apartments or those in subsidized non-profit housing corporation buildings.  (The city requires that all developers of projects with 10 or more units make 20% of them affordable units or pay a fee into the city’s Affordable Housing Trust Fund.) But they do include the relatively low rents paid by some older tenants who lived a long time in apartments covered by the city’s rent stabilization ordinance.

A quick search online shows the rents at the Astéras King building, which has 25 apartments, are even more expensive than those at 8500 Sunset Blvd.  In that property’s East Tower, which has 809 units, a studio  goes for $3,910 to $5,080. One-bedroom apartments rent for $5,220 a month to $6,690.  And two-bedroom apartments are on the market for rents ranging from $7,060 to $13,085 a month. In the adjacent West Tower, AKA Communities offers short-term rentals (31 days or longer, with a few for only five days).  Recent rates for a one-bedroom unit in the West Tower range from $295 to $375 a day, or $9,145 to $11,625 a month.

The developer of Astéras King is Darmos Properties, owned by Demitri Darmos. Amenities available to renters of apartments at the Astéras include:

  • A 24-hour attended concierge lobby
  • A private film screening room
  • A heated spa pool with sundeck lounge
  • A rooftop terrace café and bar
  • A fitness studio
  • A pet washing station
  • Car detailing

There also are other services including access to a private suite while you’re waiting for your plane to depart from LAX, personalized shopping services, global travel arrangements, private jet and yacht charters, and access to awards shows, film premieres, theater, sporting events, fashion shows, and private art exhibits.

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Larry Block
Larry Block
1 month ago

One would think with interest rates low that cost of construction would be more reasonable.

TKC
TKC
28 days ago
Reply to  Larry Block

Low interest rates have the reverse effect. Lower rates encourage more construction, thereby creating a shortage of skilled labor (sub contractors are spread thin) costs increase. Additionally, there’s a shortage of good skilled labor in California.

Robby Dobby
Robby Dobby
1 month ago

If you have $17,000 bucks to throw away every month you’re not going to live on Kings Road. What does $17 k per month get you? You could rent your own private 737 to fly you any where you want to go, you make payments on 3 Lamborghini Huricans, you could pay the mortgage on a 5,000 sqft home in Bell-Aire with $5k per month left over to spend on a Lamborghini. The listed concierge services are pretty thin for that kind of money. Let’s see how long it takes before we hear about the property owner going into bankruptcy…

Last edited 1 month ago by Robby Dobby
Warren Hohmann
Warren Hohmann
1 month ago

With a affordable housing/rentals virtually non-existent in West Hollywood, why would the city even approve this venture?

Sammy Wammy
Sammy Wammy
30 days ago
Reply to  Warren Hohmann

for money and fees silly, property taxes ,etc it’s always about $ and weho has written the book on that the last 25 years ….

Kodi
Kodi
1 month ago

Sign the petition for rent controls on all West Hollywood properties. West Hollywood needs to be an affordable city. We have the capacity to house all the homeless. Let’s show the world what we are capable of. Imagine if every single one of these rich apartments was housing for homeless. We could end homelessness. It starts with rent controls. The only people who object to rent controls are property owning greedy capitalists, renters must unite, we have a common goal. There are more renters than owners! Make your vote count on the city council and vote those who propose city… Read more »

Josh Kurpies
Josh Kurpies
25 days ago
Reply to  Kodi

Yes, you should confirm any candidate running for WeHo City Council supports rent control, but more importantly, you need to ask those running for State Senate and State Assembly whether they support rent control and will they vote to repeal, or at least amend Costa-Hawkins. The state law needs be changed first before the City can expand its rent control laws.

Amara Villa
Amara Villa
1 month ago

Due to COVID-19 we are all locked in our homes away from our families and friends in small apartments, unable to pay rent, laid off from work or working dangerous essential jobs, frightened everytime we step outside of a deadly disease that is killing millions of people. We need socialism now! Free public housing, free health care, free universal basic income, equity for all people. West Hollywood freezed rents, we need to do more and eliminate rent becayse the homeless crisis is another epidemic and they are suffering even more under these policies. Maybe we can house the homeless here,… Read more »

Tom
Tom
1 month ago

How did they get a permit for a rooftop cafe/bar?

And more to the point, who would pay $17k per month to live in the 800 block of Kings Road when that will rent you the penthouse at AKA or a nice house on Shoreham?

Observer
Observer
1 month ago

Utterly and absolutely disgusting. At one time West Hollywood was indeed affordable. That began to disintegrate after the Costa-Hawkins bill was passed, let alone the Ellis Act. These essentially incentivised landlords to do what they could to get rid of anyone living in a rent stabilized apartment. There is a super majority of Democrats in Sacramento. Why have they not done anything?

Last edited 1 month ago by Observer
JF1
JF1
1 month ago
Reply to  Observer

Yes at one time West Hollywood was affordable – when it was a dump. Since Cityhood we have made West Hollywood one of the most desirable areas in the whole city to live (Guest services, all the restaurants and nightlife) of course when you fix up an area rents are going to go up. It happens in every city everywhere with the same set of circumstances.

Faizaan Travers
Faizaan Travers
1 month ago

rich saudi pay hundreds of thousands a month for home in the hills, that class of people will pay for status symbol. west hollywood is playground for the rich and famous and they are so insecurity they care desperate about going to best restaurants, exclusive nightclub and living where the rest of us can’t. the gates in front are to keep us out and remind us there is class difference between celebrities and rich who can afford private security to keep the poverty and homeless away.

RevoltInWeHo
RevoltInWeHo
1 month ago

This developer has ties to foriegn money and is buying up vacant property in west hollywood taking away public housing opportunities

kab1200
kab1200
1 month ago
Reply to  RevoltInWeHo

This property was never going to be public housing. Several entities were interested in it. The Charlie Hotel was thinking of buying it, at one point.

WeHo Poster
WeHo Poster
1 month ago

This kind of obscene development doesn’t belong in the center city neighborhood

cody warlock
cody warlock
1 month ago

The development boom is currently crashing and burning. They had a good run but its over….at least for the foreseeable future.

Last edited 1 month ago by cody warlock
Matt Hewitt
Matt Hewitt
1 month ago

Isn’t this the same building that LeBron is getting as his Pied-à-terre?