Month: November 2022

J.P. Morgan’s Mary Callahan Erdoes and Water Garden at 1620 26th Street in Santa Monica (Getty, Water Garden LA) Flagging office market? Not according to JPMorgan, now hoping to sell a 1.4 million-square-foot office property in Santa Monica for $1.4 billion. J.P. Morgan Asset Management has listed the Water Garden at 1620 26th Street, Green…

A photo illustration of Harridge Development Group CEO David Schwartzman and Highpark development in Palos Verdes (Getty, Harridge Development Group) Harridge Development has allegedly missed payment on a few invoices for its 62-acre housing redevelopment in Palos Verdes. Fuscoe Engineering, a civil engineering firm based in Irvine, sued Harridge earlier this month, claiming the developer…

Richard Ehrlich (Richard Ehrlich, Getty) Richard Ehrlich, a partner at prominent boutique firm Westside Estate Agency, has joined Carolwood, a startup firm which officially launched business this month, The Real Deal has learned. Ehrlich will work at Beverly Hills-based Carolwood as an agent, said Nick Segal, Carolwood’s managing broker. Ehrlich worked at WEA since 1999,…

(Getty, Hyung5kim at the English-language Wikipedia/GFDL/via Wikimedia Commons) A new lawsuit seeks to repurpose part of the 388-acre Veterans Affairs campus in West L.A. into housing for homeless vets. The suit, earlier reported on by the L.A. Times, was filed in federal court earlier this month. It comes from 14 veterans who are represented by…

CBRE’s Dean Zander and CBRE’s Stuart Weston with a rendering of Rize Irvine (LinkedIn, CBRE, Zillow) Rize Irvine, a 363-unit compound in Orange County, has sold for $190 million, according to CBRE, which brokered the transaction. The sale closed in October, but CBRE announced the transaction on Nov. 15, the Orange County Register reported. The…

Ruixue “Serena” Shi and City of Coachella (Getty) A developer who coerced more than $26 million in down payments from individuals who thought they were buying new condos at a Coachella resort was sentenced on Monday to 20 years in prison. In 2015, Ruixue “Serena” Shi had proposed a 350-key hotel with 200 condos across…

(Illustration by The Real Deal with Getty) Rising interest rates and price drops shook up the real estate business in 2022, but some things don’t change. California remains a leader in surveys of the priciest zip codes, according to a recent study from the PropertyShark listing site. Atherton, the swanky Silicon Valley suburb, has kept…

Diane Shammas and rendering of proposed Ford dealership (Pitzer College, Felix Chevrolet, Getty) A scion of the Shammas family filed plans for a car dealership on Los Angeles’ Figueroa Corridor, which family patriarch Nickolas Shammas pioneered. Diane Shammas of Shammas Properties submitted an application Nov. 17 with the City of Los Angeles Planning Department to…

Newmark’s Kevin Shannon, Marcus & Millichap’s Jordan Asheghian and Tony Azzi, Stepp Commercial’s Travis Traweek and Waterford’s John Drachman (Newmark, Marcus & Millichap, Stepp Commercial, Waterford Property Company) Thinking about selling a commercial property? Do it now. That’s the advice brokers are giving to their clients across the board, after the city of Los Angeles…

Kimco Realty’s Conor Flynn and an aerial of 15466 Whittier Boulevard (LinkedIn, Google Maps) Kimco Realty aims to transform a partially redeveloped mall in Whittier into an urban village with 1,200 homes, a hotel and retail. The New York-based real estate investment trust has filed plans to redevelop the Whittwood Town Center at 15466 Whittier…