Los Angeles Business Journal

LA REAL ESTATE

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

Deal Price for Tower Takes Elevator to Top Floor

REAL ESTATE: $175 million sets new total-dollar high for downtown market this year.Downtown tower hits high mark this year in $175 million sale.

By Bethany Firnhaber September 29, 2014 midnight   $$ Share

‘Uniformly Flat’ L.A. Skyline Could Take Different Shape

Los Angeles will no longer require tall buildings in the city to have flat roofs and helipads, a change that means the city’s skyline could one day include the kind of narrow tops and grand spires seen in other big cities.

Deal Price for Tower Takes Elevator to Top Floor

In one of the priciest downtown L.A. office deals since the recession, real estate investment management company Cornerstone Real Estate Advisers has negotiated to buy the tower at 801 S. Figueroa St. for about $175 million, according to sources familiar with the transaction.

Santa Monica Apartment Building Trades at Peak Price

A 60-unit apartment complex just five blocks from the beach in Santa Monica sold recently for $26.5 million, or nearly $442,000 a unit.

With Delays, KB Homes Earnings Fall Short

KB Home shares fell in midday trading after the company announced a decline in home sales and quarterly results that fell well short of analysts’ expectations.

Zealot Networks Leases Former Ray Bradbury Home

Danny Zappin, co-founder and former chief executive of Maker Studios Inc., has cinched coveted creative space in Venice for a fledgling digital media studio.

Sunset Complex Sells for Big Bucks

A Sunset Boulevard apartment building with 183 units has sold for $92.7 million, about $507,000 a unit.

Popchips to Move Headquarters to Los Angeles

San Francisco snack food manufacturer Popchips Inc. will move its headquarters to Playa Vista next month.

USC Embarks on Major Expansion

With the demolition of its outdated University Village complete, USC was expected to formally break ground Monday on the $650 million first phase of its $1.1 billion two-phase master-planned Village at USC.

Carwash Buyer Arrested for Money-Laundering

A downtown L.A. investor who recently purchased a prominent South Park development site was among those arrested last week when federal agents raided the Fashion District in connection with an alleged money-laundering scheme for international drug cartels.

Foreclosures and Home Sales Fall

Even as foreclosures fell to more normal levels, home sales in Southern California slipped to a four-year low in August as would-be buyers faced inventory and affordability challenges, according to separate reports released Thursday.

Los Angeles Real Estate More Valuable Than Ever

The value of the taxable property in city of Los Angeles rose by 6 percent over last year’s figure, according to the 2014 Annual Report released on Wednesday by the Los Angeles County Office of the Assessor. The assessed values are the foundation of the property tax system and are used to divvy up tax revenue.

Disney Store Headquarters in Pasadena Acquired

The Pasadena building housing the world headquarters of Disney Stores USA has been acquired by Swig Co., a San Francisco real estate investment firm, it was announced Tuesday.

Retro Draw

If you’re a fan of AMC’s “Mad Men,” then you’ve probably seen actor Jon Hamm lounging in sleek midcentury modern office furniture while sipping a stiff drink as his iconic character, Don Draper.

Sunkist Moving to Santa Clarita

More than a year after selling its landmark Sherman Oaks office building, Sunkist Growers Inc. announced Tuesday it will begin moving to its new home in Santa Clarita in September.

Golf Course Withdraws Application for 166-Foot Fence

The Los Angeles Country Club has withdrawn its application for a 166-foot fence to keep errant golf balls from straying onto a proposed development next door.