Month: November 2022

Redondo Beach Mayor Bill Brand with Redondo Beach pier (Bill Brand via Twitter, Google Maps, Getty) Redondo Beach Mayor Bill Brand, a slow-growth mastermind in the South Bay city and beyond, has come under fire for crude emails about political rivals. The 65-year-old former airline crew chief who has drawn the line against overdevelopment and…

Mosaic Real Estate Investors’ Ethan Penner, Rising Realty’s Christopher Rising and KW Commercial’s Tony Wood; Park DTLA at 261 South Figueroa Street (Linkedin, Rising Realty, Park DTLA, Getty) In a desperate attempt to tidy its books, Calabasas-based lender Mosaic Real Estate Investors has listed a Downtown L.A. office complex for less than 10 percent of…

Schon Tepler’s Paul Schon and 749 Gramercy Drive (Redfin, Getty, courtesy of Paul Schon) A local development group is looking to cash out for $29 million on a six-story co-living project in Koreatown. But it’s not even finished yet. L.A.-based Schon Tepler is acting as the main project developer, property manager and broker; the other…

(llustration by Kevin Cifuentes for The Real Deal with Getty Images) Los Angeles is dumping its office desks for sectional sofas. The nation’s second-largest city has led the nation this year in apartment conversions, setting a record for adaptive reuse of other types of buildings, Rentcafe reported, citing data from sister company Yardi Matrix. Amid…

Aaron Kirman (Aaron Kirman Group) UPDATED, Nov. 15, 12:36 p.m.: Aaron Kirman, a top-ranked Los Angeles luxury agent, is leaving Compass, The Real Deal has learned. He is launching his own shop, Aaron Kirman Group, in partnership with Christie’s International Real Estate. At Compass, Kirman headed L.A’s top-ranked residential team by on-market deals, which did…

Varun Aggarwal and KBS’ Charles Schreiber (KBS, LinkedIn) Over a period of 10 years, KBS Realty Advisors’ former chief auditor allegedly stole about $2.6 million from the company by creating and submitting fake invoices for work that was never performed, the U.S. Department of Justice announced Monday. Varun Aggarwal, who worked for the Newport Beach-based…

MacKenzie Scott and the Beverly Hills home (Getty, Google Maps) A Beverly Hills mansion, which had been recently donated to charity by billionaire philanthropist MacKenzie Scott, sold last week for $37 million, Mansion Global reported. The 12,000-square-foot mansion, which sits on 2 acres, is one of two properties worth a total $55 million that Scott…

Hoag’s Robert Braithwaite with 16200 Sand Canyon Avenue ( Hoag Hospital Foundation, Getty) Hoag Hospital Irvine has launched a $1 billion expansion of more than 1 million square feet, doubling its number of beds. The hospital will add six new buildings with three specialized institutes at 16200 Sand Canyon Avenue, the Orange County Register reported.…

Octane Group’s Greg McLemore and the Arista Glendale building (Greg McLemore, Arista Glendale) A couple of projects have brought luxe rental prices to Glendale, a suburban city where rents have been relatively reasonable for the pricey Los Angeles market. Median Glendale rents are about $2,100 for a one-bedroom apartment, a figure near the California state…

Ellen DeGeneres, Portia de Rossi and Brown-Sidney House at 10801 Chalon Road (Getty, Marmol Radziner Architecture) Ellen DeGeneres has rejoined L.A. Cool by buying a Richard Neutra-designed, mid-century modern home in Bel-Air for $29 million. The former talk show host and her wife, Portia de Rossi, who own many mansions in Montecito, bought the Brown-Sidney…