Carolwood Estates launches its Winter 2023-24 Edition

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Mar 05, 2024, 10:02 ET

BEVERLY HILLS, Calif., March 5, 2024 /PRNewswire/ -- Carolwood Estates has launched its Winter 2023-24 Edition.

The all-star firm led by CEO Drew Fenton celebrated its one year anniversary this past November. While still very much in its infancy, the boutique brokerage managed to garner international press, close record deals, expand its horizons and attract top talent.

Carolwood Estates has launced its Winter 2023-24 Edition on Issuu.

Carolwood's single penthouse office of 100 elite associates expanded to 150 associates with an additional floor secured within the firm's Beverly Hills headquarters dubbed "The Terrace." The floor is also home to the company's newly established commercial division. Industry veterans Mara Commercial joined Carolwood in December and are known for handling deals with Adidas, Marc Jacobs, Paul Smith, October's Very Own, and Honor the Gift among other high-profile brands.

Outside of Beverly Hills, Carolwood announced plans to expand into Montecito, Newport Beach and Toluca Lake. Orange County power players Michael and Phillip Caruso joined the firm in January, while top Toluca Lake team Dees Real Estate Group affiliated in December. The Caruso Group bring over $1.125 billion in Orange County sales to the fold, while Kevin Dees and his team recently represented both sides of the record sale of the Hope Estate in Toluca Lake for $26 million. News of a Carolwood Montecito office surfaced in early September.

Most recently the company partnered with David Parnes and James Harris of Bond Street Partners in February. The duo are two of L.A.'s biggest celebrity agents with over $3 billion in sales since 2017 and count Rihanna, Carey Mulligan, Demi Lovato, Big Sean and Kevin Durant among their past clients.

Carolwood Estates earned the distinction of "Team of the Year" from The Hollywood Reporter in late September while Drew Fenton, Linda May, David Parnes, James Harris, Brett Lawyer, Marci Kays and Jonathan Mogharrabi were ranked among Hollywood's Top 35 Real Estate Agents by the publication. Zac Mostame and Nichole Shanfeld were nominated as "Rising Stars" within the industry.

This unrivaled pool of diverse talent has helped Carolwood Estates to achieve a dominant 26% market share of the $20 million+ residential market in Los Angeles, a leading 21% market share of the $10 million+ market in its core neighborhoods and an annual sales volume of $1.6 billion in 2023.

The firm represented three of Architectural Digest's 10 Most Expensive Celebrity Real Estate Transactions of 2023, and three of The Real Deal's Top 10 Residential Deals in Los Angeles of 2023.

Carolwood's associates achieved the highest sales of 2023 in Beverly Hills Post Office, Los Feliz (Brad Pitt's $38.5 million compound), Point Dume, Broad Beach, Holmby Hills, Santa Monica, Brentwood, Toluca Lake, and the Hollywood Hills. The sale of 2571 Wallingford Drive ranked as the highest sale in the City of Los Angeles in 2023 and was notably sold to Hollywood power couple Jennifer Lopez and Ben Affleck. Brett Lawyer of the firm solely represented the couple on their purchase.

Carolwood's associates closed 44 deals priced $10 million and above in 2023 and 30% of their deals priced $11 million and above were done in-house with fellow associates now at the brokerage. Not exclusive to just luxury, the firm sold over $350 Million worth of properties priced $4 million and below in 2023.

The firm represents an estimated $2 billion in current inventory. This season the brokerage brought more iconic properties to the market including the $195 million Casa Encantada, the $69.5 million Ocho Manos, the Cockerham Estate by William Hefner, the Taylor House by Richard Neutra, the Carla Residence by Rex Lotery and a Tudor-style estate featured on a Beatle's solo album.