Courteney Cox is officially bidding adieu to famed Sierra Towers, the Los Angeles condo skyscraper that’s been home to numerous celebrities since its 1960s inception. Records show the “Friends” star has sold her 25th floor unit in an off-market deal, and the buyer is her next-door neighbor.
Sound familiar? That’s because the exact same story happened two years ago, when Cox sold another condo on the 25th floor in another off-market deal. The buyer then was her next-door neighbor, LA socialite Angelique Soave, who paid $2.9 million for the premises. This time, the buyer is once again Soave, who forked out another $4.5 million to buy Cox’s second spot in the building.
Soave, the daughter of a Detroit-based waste-management mogul, has certainly come a long way from her family roots in Michigan’s garbage hauling business. She now owns fully half of Sierra Towers’ 25th floor, having spent $11.8 million over the past few years to acquire three units — two from Cox, and the third from Joan Collins. With the purchase of three more condos, Soave would own the entire floor and could presumably combine all six units into one mansion-sized house in the sky.
Because Cox’s condo was never publicly offered for sale, details are slim. But tax records show the northeast-facing corner unit offers two bedrooms and two bathrooms in 1,725 square feet of living space. Cox acquired the place in 2011 for $2.1 million, meaning her investment more than doubled in value over the past decade, with Soave paying a whopping $2,600 per square foot. Unlike many other celebrities, it doesn’t appear the Alabama native ever had her home photographed for Architectural Digest or other glossy magazines.
Cox also appears to be significantly slimming down her real estate portfolio. In addition to the two now-sold Sierra Towers condos, she once owned a midcentury home in the Trousdale Estates neighborhood, though she deeded that place over to ex-husband David Arquette in their 2013 divorce. As far as we know, the only property Cox still owns is a tennis court estate set atop a Malibu bluff, directly overlooking scenic Paradise Cove.
It’s not the newest or fanciest condo building in L.A., but Sierra Towers still boasts an enviable location — directly above the western end of the Sunset Strip, right at the border of Beverly Hills and West Hollywood — and still attracts a very well-heeled crowd. Amenities include a 24-hour security and concierge, a gym and outdoor swimming pool.
Current residents of the 31-story skyscraper are Adam Sandler, Mary Hart and Ozzy and Sharon Osbourne. There are also a number of local billionaire businessmen, many of whom use their condos as office space or part-time crash pads.