Month: July 2024

Developer Leo Pustilnikov has agreed to buy 17 Skid Row buildings for formerly homeless residents in Downtown Los Angeles for $10 million. The owner of Beverly Hills-based SLH Investments has cut a deal to buy the portfolio of buildings containing 1,200 units once owned by the Skid Row Housing Trust, the Los Angeles Times reported.…

A judge has given Huntington Beach a year to come up with a state-mandated plan to build more than 13,000 homes by 2030. San Diego Superior Court Judge Katherine Bacal found that Surf City had violated state housing laws by refusing to plan for more homes, the Orange County Register reported. She gave the city…

Ben Affleck is moving to an equestrian estate in Brentwood as rumors heat up that he and Jennifer Lopez are headed for a split. Affleck closed on the five-bed, six-bath home in the Sullivan Canyon neighborhood for $20.5 million, TMZ reported.   The seller was David Calvert-Jones, media titan Rupert Murdoch’s nephew, according to property records.…

Two industrial buildings in the San Fernando Valley neighborhood of Chatsworth have traded in separate deals for a combined $62.5 million. Cosmetics maker Neutraderm, based in Chatsworth, paid $21 million for a 59,400-square-foot manufacturing building at 20680 Nordhoff Street, the Commercial Observer reported. The seller was Xebec, based in Austin, Texas. The deal works out…

The City of Los Angeles thought it had dibs on the troubled Gas Company Tower, and cut a deal for a 308,000-square foot lease. Now L.A. County wants to buy the building for up to $210 million. Six months after the city proposed a lease agreement for the 52-story skyscraper at 555 West Fifth Street,…

After much ado, residential agents have some clarity about a sales process that complies with the National Association of Realtors court settlement. With the Aug. 17 deadline looming for the rollout of new rules resulting from NAR’s $418 million settlement of an antitrust case earlier this year, the California Association of Realtors last week released…

R.W. Selby could soon redevelop part of Hollywood’s Walk of Fame with 633 apartments, offices, shops and restaurants. An affiliate of the Brentwood-based developer led by Rick Selby was approved by the Los Angeles City Planning Commission to build the mixed-use project on two sites at 6626-6636 West Hollywood Boulevard and 1623-1645 and 1638-1644 North…

East End Studios has tweaked its plans for a $1 billion film studio in L.A.’s Arts District. The unit of New York-based East End Capital has filed revised plans to create a more “people-centered” studio project at 1338 East 6th Street and 1321 Wholesale Street, in Downtown, Urbanize Los Angeles reported. In June 2022, East…

A spec mansion perched above Malibu’s Billionaire’s Beach has sold for $32 million, after initially testing the market with a nearly $50 million asking price. The estate was first listed in 2019 for $50 million, fully furnished. More recently, it was re-listed in February for $38 million. The property, named Villa Splendido, sits on a…

Dana Point voters will decide in November whether to slash the number of short-term rentals by half. A neighborhood group has collected enough signatures to put an initiative on the ballot this fall that could revise the city’s policy on short-term rentals, while limiting the number of stays, the Orange County Register reported. Residents Who…