Month: March 2022

Mako’s David Segal and 14100 Rustic Lane (Compass, Mako) A 2-acre estate in Pacific Palisades has found a buyer after almost eight months on the market. The seller is David Segel, who founded hedge fund Mako in London and is a partner in Los Angeles-based film production company Mpower Pictures. Smith did not return an…

Photo from the May 16th fire in the 200 block of East 3rd Street with LAFD’s Captain Victor Aguirre (Getty, LAFD) A Downtown Los Angeles business owner who faced up to 68 years in jail for charges related to a building fire that injured 11 firefighters will not spend time behind bars. Steve Sungho Lee–who…

Exterior of 616 Esplanade and Ideal Capital Group’s Austin Herzog (Elements 616, Ideal Capital Group) A 105-unit luxury apartment complex in Redondo Beach has sold for $74.5 million Clovis-based Ideal Capital Group sold the 81,647-square-foot complex at 616 Esplanade, the Los Angeles Business Journal reported. The buyer was an unidentified Los Angeles-based family trust. The…

Gryphon Capital’s Chris Shane and Targer at 5731 Bickett Street (Gryphon Capital, Marcus & Millichap) No cheap chic for Gryphon Capital. The Los Angeles-based developer has put an under-construction Target up for sale in Huntington Park with a hefty price tag. The Los Angeles-based investment firm is asking $58.4 million for the 56,000-square-foot building and…

Renderings of the Village at Laguna Hills at 24155 Laguna Hills Mall with Peter Merlone of Merlone Geier Partners (Merlone Geier Partners) The defunct Laguna Hills Mall will soon be redeveloped into 68 acres of open-air shops, restaurants, offices, apartments and a hotel. Merlone Geier Partners, based in San Diego, has won approval from the…

Castlewood Park (Marcusmillichap, iStock) For the first time since the Clinton administration, the 184-unit, multifamily Castlewood Park Apartments in Orange County is up for sale. The Leeson Group of Marcus & Millichap listed Castlewood Park in the city of Buena Park for $84.2 million. The seller is Newcastle Enterprises, based in Huntington Beach. Newcastle, helmed…

Patrick Whitesell and 545 South Mapleton Drive in Holby Hills (Getty, Hilton & Hyland) The mystery buyer of a $42.9-million mansion in Holmby Hills last year has been identified as entertainment agency mogul Patrick Whitesell. Whitesell, a former talent agent and the executive chairman of Endeavor, bought the 19,300-square-foot estate at 545 S. Mapleton Dr.…

Los Angeles Homeless Services Authority’s Heidi Marston, LA City Council President Nury Martinez, LA Mayor Eric Garcetti (LAHSA, nury-martinez.com, Getty Images) A recently submitted draft report hints at the depth of bureaucratic problems plaguing the joint powers authority in charge of coordinating Greater L.A.’s homelessness services — even as the region’s homelessness crisis continues to…

Alec Gores with 49 Beverly Clark Place (Getty, Luxury Architecture) Leveraged buyout specialist Alec Gores has sold his 31,000 square-foot French Normandy-style estate in Beverly Park for $70 million. The private-equity kingpin sold the 11-bedroom, 21-bath mansion at 49 Beverly Park Circle in the gated Beverly Park enclave of Beverly Crest in an all-cash, off-market…

300 South Main Street (CBRE) Morad “Ben” Neman is out of prison and seeking bids on the 2.2-acre parking lot in Downtown Los Angeles that was one of several properties in his portfolio when he pleaded guilty to money laundering. Neman is the owner property at 300 S. Main St., according to property records. CBRE…