Month: January 2023

1950 Avenue of the Stars (Bjarke Ingels Group, Getty) With its vacancy rate hitting a record 20 percent during the third quarter, Los Angeles’ office market reported subdued numbers in 2022, the only exception being a single lease in an under-construction tower in Century City. A list of largest leases in the market shows a…

Beverly Hills Mayor Lili Bosse and LVMH’s Bernard Arnault with renderings of Cheval Blanc (City of Beverly Hills, Getty, Gruen Associates) LVMH is a hotel brand often reserved for those who can afford a $2,000 handbag or $300 bottles of cognac. Now, the future of its developement on Rodeo Drive is set to be decided…

(Getty) Home prices across Southern California have slipped for the sixth straight month, the result of increasing monthly mortgage rates. Prices in the lower half of the state fell for a sixth straight month in November, wiping out most of the price gains during the first half of 2022, the Orange County Register reported, citing…

2.4 million homeowners in California, or 33 percent of all property owners, own their properties free and clear (Illustration by The Real Deal with Getty) A third of California homeowners own their properties free and clear. Nearly 2.4 million homeowners across the state in 2021 had no property mortgage, the third highest among the states…

From left: Howard Jarvis Taxpayers Association’s Jon Coupal; AAGLA’s Dan Yukelson; and SCNG’s Ron Hasse (Getty, AAGLA, YouTube/Howard Jarvis Taxpayers Association, Twitter/Ron Hasse) In a sign that momentum — or at least public outrage — may be building against Measure ULA, the City of Los Angeles’ incoming transfer tax, the Southern California News Group has…

Alder Holdings’ Adam Schanz with rendering of 600 North Gramercy Place (Adam Schanz, JM Architect, Getty) Alder Holdings aims to build a five-story apartment building in Larchmont. The owner of the property has filed plans to build the 23-unit complex at 600 North Gramercy Place, Urbanize Los Angeles reported. The 11,000-square-foot complex, to be dubbed…

From left: Kim Kardashian, Arte Moreno, yak bull, Jeffree Star and Rick Caruso (Getty) Southern California has an abundance of celebrities who intersect with the region’s real estate markets. Top “buzzworthy” stories in 2022, as reflected in TRD’s coverage, include a political campaign, a Malibu mansion, a sports scandal, a residential brokerage startup and a…

Side’s CEO Guy Gal and newly appointed president Stephen Capezza (Getty, Side) Side, the six-year-old startup that provides white-label services for brokerage teams, has tapped a Zillow veteran to drive national growth as its first president, the company told The Real Deal. Stephen Capezza is joining the firm after nearly eight years at Zillow, where…

Habitat for Humanity OC president Monique Davis and 1921 West Washington Avenue (Habitat for Humanity, Google Maps) Habitat for Humanity, the national nonprofit, is slated to build three duplexes in Santa Ana after receiving a greenlight for $2.2 million in funding from the Santa Ana City Council. The City Council approved the funding in November,…

Welcome to January and another new issue of The Real Deal. This month, we kick off the new year by sitting down with Thad Wong, co-founder and CEO of @properties, Chicago’s largest independent residential real estate brokerage. After buying the Christie’s International Real Estate brand and partnering with top LA agent Aaron Kirman, the firm…