Month: November 2022

WEA’s Kurt Rappaport and Stephen Shapiro with rendering of 460 North Canon Drive (Westside Estate Agency) Westside Estate Agency, one of L.A.’s most exclusive boutique real estate brokerages, is moving to a new location in a building owned by co-founder Kurt Rappaport. At the end of the first quarter 2023, WEA will move to 460…

Urban Commons’ Salvatore G. Takoushian with Wagner at the Battery (Google Maps, Getty, Urban Commons) Los Angeles hospitality firm Urban Commons has filed for bankruptcy on the hotel portion of the Wagner at the Battery, just weeks after a lender filed a petition to foreclose on the Lower Manhattan asset. A company-controlled entity sought Chapter…

Rick Caruso and Karen Bass (Getty) Rick Caruso has conceded the mayoral election in Los Angeles to U.S. Rep. Karen Bass, a longtime elected official who withstood his $100 million self-funded campaign to pull away to a handy victory after a close campaign. The developer behind The Grove, Americana at Brand and various other commercial…

Onni Group President Rossano De Cotiis with renderings of 200 N. Long Beach Boulevard in Long Beach and 6091 W. Santa Monica Boulevard in Hollywood (IBI Group, Kilograph) Onni Group has added extended-stay hotels to apartments under construction in Long Beach and Hollywood. The Vancouver-based developer will add the extended-stay suites to its apartment complexes…

Rex CEO Jack Ryan and 32300 Pacific Coast Highway (Compass, LinkedIn) The co-founder of Rex — Real Estate Exchange didn’t shave the price of his cliff-top Malibu estate after 11 long months of looky loos. He raised the price $7 million. Jack Ryan, the former investment banker once married to actress Jeri Ryan, has now…

Urban Pacific’s Scott Choppin (Urban Pacific) Weeks after a flurry of so-called builder’s remedy project applications in Santa Monica set off a statewide frenzy, the previously obscure legal provision has now appeared in the small L.A. County city of Hawaiian Gardens. The project comes from Long Beach-based workforce housing developer Urban Pacific, which wants to…

The Agency’s Zach Goldsmith (The Agency, Getty) Zach Goldsmith, a high-end residential broker who sells large-tract estates, has left the beleaguered firm Hilton & Hyland to join The Agency. On Nov. 14, The Agency announced that Goldsmith and his head of operations, Jennifer Plotkin, had moved to the brokerage. They will work out of the…

Transfer tax advocates include SEIU’s April Verrett, L.A. Family Housing’s Stephanie Klasky-Gamer and Alliance for Community Transit-Los Angeles’ Laura Raymond (SEIU, L.A. Family Housing, Alliance for Community Transit-Los Angeles) Thousands of votes remain uncounted, but election returns indicate that Measure ULA, the City of Los Angeles’ controversial transfer tax measure, is on track for a big…

From left: Neil Shekhter and WSC Communities’ Scott Walter with 2901 Santa Monica Boulevard (Google Maps) Just months after rushing to capitalize on a legal loophole known as builder’s remedy in the city of Santa Monica, WSC Communities is looking to sell three of the development parcels it scored automatic approvals for, The Real Deal…

Ratkovich Company’s Brian Saenger and the West Harbor project (Ratkovich Company, West Harbor) Developers of a mile-long West Harbor shopping and dining destination along the San Pedro waterfront have broken ground after securing $90 million in financing. The Ratkovich Company and Jerico Development began the 42-acre redevelopment project last month after closing on the construction…