Month: September 2021

(Getty Images, iStock, Illustration by Kevin Cifuentes for The Real Deal) Elton John has added a second 1960s-era home to his Beverly Hills holdings, and to his substantial real estate portfolio that includes homes in Europe. The legendary musician and his husband David Furnish paid $8.5 million for the property next door to their longtime…

SoLa Impact Plans Apartment Complex in Park Mesa Heights (Google Maps, SoLa Impact) Affordable housing developer SoLa Impact has filed plans for a 114-unit apartment complex in Park Mesa Heights. The project, at 4609 South Crenshaw Boulevard, is proposed as a seven-story, 80-foot-tall building. It would replace a one-story property that housed a nonprofit. SoLa…

Seller Decron Properties continues to shed its retail assets (Decron Properties, LoopNet) Sun Valley’s Home Depot has a new landlord: Charing Cross Partners. Decron Properties sold the 111,624-square-foot store at 5040 San Fernando Road to the Santa Monica-based investor for $61.8 million, according to Commercial Observer. The Sun Valley store is about a mile west…

REDIST cofounder Atif Qadir (LinkedIn) REDIST, a proptech startup seeking to demystify real estate tax breaks, completed a round of seed funding and soft-launched a platform to show developers and brokers how to make better use of tax incentives. Some $100 billion of incentives go unused each year because they’re too complicated or too obscure,…

Panel discussion features leading brokers from Corcoran, Douglas Elliman and Luxe Living Realty Powered by the #movetomiami trend and a slew of shiny new developments underway, South Florida’s residential market just keeps getting hotter. The Real Deal’s annual showcase will bring together three of the top brokers in the region to break down the emerging…

(Getty) Employees at Douglas Elliman offices across the country must now be vaccinated or face regular testing, sources say. The brokerage, which has offices in New York, Connecticut, New Jersey, Florida, California, Texas, Colorado and Massachusetts, became the latest to implement a vaccination policy on Monday, The Real Deal has learned. All employees working in…

The site for the complex (Google Maps) A developer has filed plans for a 64-unit affordable development in Westlake, seeking incentives through Los Angeles’ Transit Oriented Communities program. The project site is located at 1914 West 8th Street, according to the filing with City Planning. Three other addresses are also included in the project filing.…

(iStock) A comprehensive rezoning plan for Downtown Los Angeles that anticipates 175,000 new residents and 100,000 new jobs is headed to the City Council. The City Planning Commission amended and approved the draft DTLA 2040 plan, sending it to the Council’s Planning and Land Use Committee for consideration, according to Urbanize. DTLA 2040 includes upzoning…

Compass CEO Robert Reffkin (Compass, Getty) Compass shares closed little changed on Tuesday, surviving their first day of trading after restrictions were lifted on about 200 million shares from the company’s public offering six months ago. When markets closed, shares in the brokerage had fallen 3 cents in New York Stock Exchange trading, to $13.50.…

Compass CEO Robert Reffkin (Getty) Compass announced yet another acquisition of a title and escrow company, just as restrictions are lifted on trading of about 200 million more shares. The brokerage has signed an agreement to buy CommonGround Abstract, a title company operating in New Jersey and Pennsylvania, by the end of the year. The…