Month: July 2024

Vlad Yurov built an online following by teaching people how to get into the short-term rental business. He touted himself as a “seven-figure Airbnb host” who could help others quit their day jobs and get into the industry.  “Real estate made the most millionaires in history,” Yurov said on his website, Vladbnb.com. “And you can…

Some Los Angeles County tenants will get free lawyers to help them fight pending evictions. The Board of Supervisors unanimously approved free legal aid for residents facing evictions in unincorporated areas, the Los Angeles Daily News reported. The move is an effort to prevent more people from becoming homeless. The program will cost $65 million…

Indoor malls have been dying for years, but Pacific Retail Capital Partners is plucking two zombies in Palm Desert and New Jersey from the dust. The Century City-based investor led by Steve Plenge will soon revamp The Shops at Palm Desert, a 1 million-square-foot indoor mall at 72840 Highway 111, Bisnow reported. The firm is…

Los Angeles’ industrial market isn’t as hot as it once was because of people pulling back from shopping. At the end of the second quarter, 3.7 percent of all industrial space was available, marking a 14.5-year high, according to a report from Newmark.  “Vacancy will rise for the foreseeable future,” Newmark said in its report.…

Edward J. Minskoff Equities has defaulted on an office complex in Playa Vista, owing $271 million in unpaid debt, The Real Deal has learned. EJM Equities defaulted on a $250 million loan tied to The Bluffs from Morgan Stanley, which served the firm with a notice of default last month, records show. The principal on…

Top broker Tyrone McKillen is parting ways with Official, less than two years after establishing the brokerage in Los Angeles.  McKillen is making arrangements to leave the firm, and taking his eight-person Plus Real Estate Group team with him.  The firm acknowledged the planned departure, with Official co-founder and Chief Growth Officer Nicole Oge saying…

Adman and film producer Brett Drogmund has inked a deal for a 25,300-square-foot industrial building in El Segundo to open a club for schmoozing over the pops of pickleball. Drogmund, founder of California Smash Pickleball and Social Club, signed a 30-year lease for the warehouse at 815 North Nash Street, the Los Angeles Business Journal…

Picking up trash at The Park at Cross Creek in Malibu was like a reflex for Steve Soboroff. But the managing director of shopping center developer and leasing firm Soboroff Partners isn’t so sure he’ll do that anymore, given the property’s sale earlier this month for a reported $80 million.     The retail center — which…

Bando Dela has beat back a union-supported appeal trying to block a 153-unit apartment complex in Koreatown. The Koreatown-based developer led by Dong Chul Shin was approved by the Los Angeles City Planning Commission, which denied the appeal against the seven-story building at 3355 West Olympic Boulevard, Urbanize Los Angeles reported. It would replace a…

Los Angeles’ luxury residential market went on summer vacation last week.   Signed contracts between July 8 and July 14 plummeted to nine, halved from the previous week’s total, according to a report from Eklund-Gomes. The report tallies signed contracts for Los Angeles County residential properties priced at $4 million or more. Volume among those signed…