LA REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...

Moving Into Koreatown

DEVELOPMENT: Proximity to Westside, downtown, rail line fuels market’s attraction. Koreatown has proved a popular middle ground between downtown and the Westside.

Sons of Armenian Finance Minister Sell Holmby Hills Mansion for $18.8M

The two sons of Armenian Minister of Finance Gagik Khachatryan just sold their home in Holmby Hills, across the street from the Playboy Mansion, for $18.8 million.

Marilyn Monroe’s Brentwood Home Where She Died Listed at $6.9 Million

The Brentwood house where Marilyn Monroe lived and died has hit the market for $6.9 million.

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Sean ‘Diddy’ Combs’ Business Partner Lists Beverly Hills Home for $12.5 Million

Andy Schuon, who co-founded music-focused cable network Revolt Media & TV alongside hip-hop artist and entrepreneur Sean “Diddy” Combs, is selling his Beverly Hills home for $12.5 million.

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Wilshire Grand Offices Set to Ink Tenant

The tallest tower in the West, the 73-story Wilshire Grand Center in downtown, appears close to claiming its first major office tenant.

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Omninet Capital Buys Monterey Park Offices for $81 Million

A cluster of office buildings in Monterey Park has sold to Omninet Capital, a Beverly Hills-based real estate and venture capital fund, broker Newmark Grubb Knight Frank announced. The price tag was $81 million, according to a source familiar with the deal.

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Best Buy Signs Large Industrial Lease at Compton Brickyard

Best Buy Co. Inc. has snagged nearly half a million square feet of industrial space at the Brickyard in Compton, the property’s leasing broker said Friday, bringing the 58-acre project to full occupancy.

Report: Major L.A. Employers Concerned High Housing Costs are Barrier to Attracting and Retaining Talent

The region’s high housing costs are deterring top talent from entering the Los Angeles job market and leading to higher recruiting costs for employers, according to a survey released Wednesday from USC and the Los Angeles Business Council.

Producer Joe Carnahan Lists Pacific Palisades Home for $3.9 Million

Hollywood director and producer Joe Carnahan is selling his Pacific Palisades home for $3.89 million.

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Office Developers Find Home in Residential Area

ACQUISITION: Co-owners expect multifamily boom to feed interest in work space.

The eight-story office building at 520 N. Central Ave. in downtown Glendale sits on a street where several apartment complexes have popped up in the last couple of years.

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Santa Monica Retail Site Piazza Montana Sells for $15.5 Million

A Mediterranean-style retail building on Montana Avenue in Santa Monica recently sold for $15.5 million, or $1,582 a square foot, according to brokerage NAI Capital.

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Miami Marlins’ Ichiro Suzuki Sells L.A. Penthouse to ESports Entrepreneur for $2.45 Million

Miami Marlins outfielder Ichiro Suzuki has sold his downtown Los Angeles penthouse to eSports pioneer Alexander Garfield for $2.45 million.

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High-end Homes May Face Lower Demand

High-end home brokers see signs that East Coast slowdown could move to Los Angeles.

Developers and brokers of high-end homes in Los Angeles are seeing cause for concern in East Coast luxury markets such as New York and Miami, where prices have softened and sales volume has waned.

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Hudson Pacific Properties Sells Office Building, Land for $35 million

Hudson Pacific Properties Inc. has sold an office building and an adjacent 1.2-acre plot of land in Santa Monica for $35 million to Santa Monica-based solar power provider Cypress Creek Renewables. The deal closed March 21 and was announced this week.

Aging Echo Park Retail Buildings Acquired for $9.5 Million

Champion Real Estate Company has acquired a collection of aging retail buildings on Sunset Boulevard in Echo Park for $9.5 million. The company plans to repurpose them into a mixed-use development of retail, restaurants, and residential lofts called BrickWorks.

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