Month: August 2018

Care center with Lennar exec Stuart Miller (Credit: Marengo Avenue Water Brigade) Nearly a year after a controversial project secured approvals, a new developer is stepping onto the scene in Alhambra. Lennar Corp., a Miami-based mega-developer, has paid $32.5 million to acquire eight acres in Alhambra to develop a new condominium complex at 1428 S. Marengo Avenue,…

New York (top) and Las Vegas (bottom) skylines (Credit: Pixabay and iStock) The strong upward momentum in home prices seen across the country showed signs of slowing in June, according to the latest S&P CoreLogic Case-Shiller data. Home prices in 20 U.S. cities rose at their slowest pace since 2016 amid high prices and higher…

Gwyneth Paltrow, Santa Monica Gateway Goop, Gwyneth Paltrow’s lifestyle company that offers everything from $80 essential oils to sexual health articles, is expanding in Santa Monica. The firm has signed a 10-year lease to occupy 57,000 square feet at the newly developed Santa Monica Gateway, The Real Deal has learned. The Colorado Creative Studios-owned campus,…

Brookfield’s Brian Kingston and a shopping mall (Credit: Pixabay) With $23 billion worth of transactions this year, Brookfield Asset Management is the top real estate dealmaker in North America. The Toronto-based firm has surpassed the Blackstone Group in terms of total value of real estate transactions this year, Bloomberg reported. A significant chunk of this…

Los Angeles and New York City (Credit: Pixabay, MaxPixel) When it comes to renting in the U.S., Manhattan is still the king of high-priced apartments, but Los Angeles is an aspiring queen. With an average of $4,883 per month, the 90024 zip code of Westwood, an L.A. neighborhood, ranked as the third-most expensive place to…

(Credit: Getty Images) Buyers will have to wait another two years for the market to go their way. A survey of economists conducted by Zillow and Pulsenomics found that the real estate market won’t favor buyers until 2020, Inman reported. “For the past several years, home sellers held all the cards at the negotiating table,…

Renderings of Re-Habit transitional housing (Credit: KTGY Architects) As landlords consider what to do with their faltering shopping malls, one idea is gaining traction statewide: repurposing unused space into housing for the homeless. Irvine-based KTGY Architecture + Planning is developing a new concept called Re-Habit, which would redevelop empty big-box stores into mixed-use spaces focused…

Benedict Canyon Equities CEO Ryan Somers and the West Covina property StarPoint Properties has sold an apartment complex in West Covina for $74 million, The Real Deal has learned. The deal reflected one out of two recent StarPoint sales, combining for a total of $122 million, the company announced Monday. Property records list multifamily investment…

Sepulveda Center App designer ISBX has expanded its lease at the Swig Company’s Sepulveda Center on the Westside near Culver City. ISBX will pay about $8 million to lease 15,000 square feet, or an entire floor at the 12-story tower at 3415 S. Sepulveda Boulevard, according to Grant Newman of Madison Partners, who represented ISBX…

Avicii with home on Blue Jay Way (Credit: Shawn Tron via Flickr, Zillow) The former home of the late Tim Bergling, better known as Avicii, has sold off-market for $17.5 million, just four months after the musician died. Details regarding the new owner remain scant. Property records reveal David Weise, a business manager who formerly…