Month: February 2018

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Illustration by Daniel Nyari Every time a tenant enters or exits a Rudin Management-owned property, the building notices. A sensor in a turnstile near the entrance sends a signal to the property’s operating system, dubbed Nantum. The system can sense sudden shifts in occupancy and quickly adjust its heating and air-conditioning depending on the season. Rudin…

Millennials are snapping up homes

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(Credit: Getty Images) Calm down, realtors: unlike landlines, napkins and video stores, it looks like buying homes will not die out with the millennial generation. First-time buyers comprised 38 percent of single-family home purchases last year, their biggest share in the market since 2000, according to Bloomberg. They bought 2.07 million new homes in total,…

LA will keep adding new housing but prices will continue to rise: report

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Los Angeles (Credit: Pixabay, Pexels) Los Angeles can expect slightly more new housing construction in the future, but residents should also expect higher prices. The number of residential permits issued in Los Angeles County is expected to grow to 23,061 this year, up from 22,010 last year. That’s according to a new economic forecast from…

Plans revealed for 20-story mixed-use Koreatown tower

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A rendering of the MVE+Partners’ design for 3800 W. 6th Street in Koreatown (Credit: Planning LA City, Pxhere) New details of a 20-story mixed-use project slated for Koreatown reveal a condo and hotel development with two floors of commercial space in a neighborhood that has seen a flood of recent residential complexes. The project would…

Day in the Life: Myra Nourmand

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Myra Nourmand Myra Nourmand is a principal and agent at Nourmand & Associates, a family-run real estate brokerage founded by her husband, Saeed Nourmand, in 1976. It is now led by their son, Michael Nourmand. The couple has two other children, Howard and Nicole, who “feed the business” through their respective industries, she said. Nourmand…

Partying in L.A. just got a whole lot more expensive

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Councilmember Ryu with Hollywood Hills homes (Getty/Wikimedia) “No more parties in L.A.” It’s a Kanye West song and now it could be reality. The Los Angeles City Council unanimously approved an ordinance on Thursday that will impose a series of escalating fines on homeowners and party hosts who throw disruptive ragers. Hosts will now be…

How artificial intelligence is changing real estate investment

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Illustration by Daniel Nyari Welcome to the world of AI. Last March, the online asset manager AlphaFlow launched its first so-called automated investment fund for real estate loans. Rather than tapping employees to search for investment opportunities, the company uses a computer program to sift through listings services and find mortgages to purchase based on property…

Mansion of late Paramount exec Brad Grey listed for $78M

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Brad Grey and the Holmby Hills estate (Credit: IMDB, Zillow) The Holmby Hills estate of the late Paramount Pictures boss Brad Grey just hit the market, asking $77.5 million. The couple completed the 12,800-square-foot home less than two years ago. The Howard Backen-designed estate on Carolwood Drive includes five bedrooms, two kitchens, a gym, Pilates…

Santa Monica has strict Airbnb laws, but few hosts follow them: report

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Santa Monica (Credit: Pexels) A report by the city of Santa Monica details the uphill battle the beachside community must wage against illegal short-term rentals, and the novel methods homeowners and tenants deploy to skirt city taxes and laws regulating them. The study says that only 187 of the 950 estimated short-term rentals in Santa…

JPMorgan Chase to tear down Midtown HQ, build massive tower

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