Month: March 2018

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Three years ago, developers filed plans for the the massive mixed-use complex known as Crossroads Hollywood. The complex would transform Los Angeles’ storied Crossroads of the World, considered the country’s first outdoor shopping mall. As conceived, Harridge Development Group’s 1.4 million-square-foot Crossroads Hollywood would be one of the biggest developments in the city’s history. But…

Don’t look now, but Warren Buffett is the No. 2 broker in the country

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Warren Buffett (Credit: PxHere, Pixabay, Wikimedia Commons) The “Oracle of Omaha” is climbing the broker ranks. At least his company is. Warren Buffett’s residential brokerage HomeServices of America has grown to become the second-largest real estate brokerage in the country, according to a new ranking from Real Trends. Buffett’s company trails only Realogy Holding’s NRT…

Louis Vuitton parent company drops $110M for Rodeo Drive store

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456 N Rodeo Drive and CEO of Louis Vuitton Moët Hennessy, Bernard Arnault (Credit: Wikimedia Commons) Louis Vuitton Moet Hennessy paid $110 million for a one-story building along Rodeo Drive in Beverly Hills, the company’s second large purchase on the street in as many years. Palm Beach, Fla.-based Sterling Organization sold the 6,200-square-foot property, located…

Co-working firm work well win plants flag in Santa Monica

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1201 Third Street Promenade, former home of Barnes & Noble A co-working company started by a former WeWork executive signed a lease for the shuttered Barnes & Noble bookstore on the Third Street Promenade in Santa Monica, just around the corner from a WeWork outpost. Connecticut-based work well win — say that fast five times…

Skin in the game: Real residential brokerage will offer agents equity pay bonuses

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Tamir Poleg, CEO of Real (Credit: IRA and Real) Real, a tech-focused residential sales brokerage, plans to launch an equity-based bonus pay package for its agents later this year, The Real Deal has learned. Agents at the online platform will receive a small slice of ownership every three months, and will receive the same for…

City advances 99-key Koreatown hotel but wait, there’s more

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966 Dewey Avenue Not long after the city granted a development partnership conditional approval for its 99-key hotel in Koreatown, the project hit a snag. It was a neighbor. The resident, David Kim, filed an appeal citing parking, construction noise and shadows as the reasons, according to the Department of City Planning. The move that…

Millennials on average spend 45% of their income on rent

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Millennials (Credit: State Farm via Flickr) Residential Rentals | RentCafe Millennials are more rent-burdened than Gen-Xers and baby boomers. According to an analysis of census data going back to 1974, economic conditions are harsher for millennials than their predecessors. Millennials between the ages of 22 and 30 pay $92,600 in total rent before they turn…

Another NY-based co-working company is going Hollywood

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The campus at 959 Seward Avenue, Serendipity Labs CEO John Arenas (credit: JLL) No, it’s not WeWork. Serendipity Labs Coworking, which like its bigger rival is also based in New York, has signed a lease at the Hollywood 959. It marks the first Los Angeles location for Serendipity Labs, which is taking 36,000 square feet…

Challenges ahead for Trump Realty as it prepares to expand in South Florida

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Trump International Realty opened offices on two Trump-owned golf courses, in Jupiter (pictured) and in Doral, in 2012. From TRD Miami’s spring issue: These days, when a Trump family member speaks, the world must listen. So, when the president’s son Eric Trump announced that the Trump Organization’s boutique residential brokerage, Trump International Realty, was “expanding…

NFL Media is moving to Inglewood’s Hollywood Park development

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