A mid-century modern landmark on Prospect Street in La Jolla has been turned into 16 luxury residences, including a $10 million penthouse.

The four-story concrete building, known as Prospect Center, was designed in 1965 by famed architects Ladd & Kelsey, who also designed the Norton Simon Museum in Pasadena.

Developer Hammer Ventures, which specializes in adapting prime urban properties, completed a two-year renovation of the building earlier this month.

Units in the Muse La Jolla include one-, two- and three-bedroom floor plans starting at $1 million. A third of the units have already been sold.

“Muse La Jolla offers buyers a rare opportunity to live in the very epicenter of one of the West Coast’s most prestigious and sought-after coastal communities, steps from world-class dining, shopping, surfing and more,” said Jon Hammer, president of Hammer Ventures.

“The property was already a timeless architectural masterpiece,” he added. “Now, it’s also an elegant showcase of luxurious interior design and a piece of California modernist history that people can call home.”

Hammer Ventures, based in San Diego, has developed a portfolio valued at $1.75 billion since its founding in 2000.

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