LA landlords lure luxe renters with ridiculous Erewhon deal as inventory soars and market softens

Here’s an offer no trendy young Angeleno can refuse — free Erehwon smoothies.That’s the bet being made by developers of The Mercer, a new luxury apartment house in the heart of West Hollywood — where leasing agents are attempting to lure renters into high-priced pads by giving away $2,500 house credits at the influencer-loved upscale grocery store, which recently opened a location just up the street.

Sound generous? That’s a fraction of what residents pay to live in the gleaming, 17-unit building — where listings start at $6,995 a month for a two-bed and go up to $9,995 for the penthouse, with floor to ceiling windows and private outdoor spaces.The biggest news, opinion and culture shaping California right now.

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Never miss a story Los Angeles in 2026 is eye-wateringly expensive, that’s no secret — but for anyone with a bit of cash looking for an apartment, the high end of the market’s wide open, as lease signings slow and inventory multiplies, all amid a local slump in hiring for good-paying jobs.The flood of supply amid this decrease in demand leaves developers scrambling to find creative ways to attract renters into gleaming new homes.According to data compiled by market watcher CoStar, 43% of Los Angeles apartments now offer some form of concessions — shooting up from 29% last year.That comes as the city has added 37,000 new luxury apartment units in the last five years, the analyzers say.

And with 12,000 more units under construction right now, it’s decidedly a renter’s market — as long the renter is well-heeled.According to Adam Rosenkranz of Christina Development Corp., the developer of The Mercer, the Erewhon offer is the first of its kind — which was exactly the point.“If anyone can say, ‘I have this, you don’t,’ I think there’s that exclusivity that this worl...