Month: July 2024

It’s not clear what building rockets in Hawthorne or a social media platform in San Francisco have to do with student privacy for transexual teens. But Elon Musk, CEO of SpaceX and owner of Twitter, has decided to move the headquarters of both California firms to Texas because California Gov. Gavin Newsom signed a law…

Advocates for a controversial homeless housing complex approved in Venice accuse Los Angeles of stonewalling its development. LA Forward Institute, a nonprofit based in Sawtelle, has filed a lawsuit that accuses the City of Los Angeles of erecting roadblocks to the Venice Dell Community, a 140-unit affordable apartment complex planned at 200 North Venice Boulevard,…

The $30 million sale of former St. John Knits president Michael Gray’s Newport Beach estate marks one of Orange County’s priciest deals so far this year.  Gray and his wife, Lori Gray, sold their 8,800-square-foot estate at 309 Via Lido Soud to Lloyd Smith, according to property records filed with Orange County. Pacific Sotheby’s International…

Aragon Properties has moved forward with plans to build a 327-unit apartment complex in Echo Park. The Vancouver-based developer led by Lenny Moy was approved by the Los Angeles City Planning Commission to build the seven-story complex at 1185 West Sunset Boulevard, The Registry reported. The move comes more than a decade after Aragon initially…

With their marriage apparently headed toward the rocks, Jennifer Lopez and Ben Affleck have decided to formally list their 38,000-square-foot mansion in Beverly Crest for $68 million. The estranged A-list couple, who bought the estate a year ago after touring 80 properties, have put the 5.2-acre compound at 2571 Wallingford Drive on the market, Mansion…

Worthe Real Estate has bought back Warner Bros. Discovery’s Burbank Studios, about a year after selling the sprawling 27-acre studio campus to the entertainment giant.  Worthe, QuadReal Property Group and Stockbridge Capital Group paid $375 million to buy the 680,000-square-foot studio and office campus back, according to property records filed with Los Angeles County. The…

Philanthropist Ron Simon has kicked in $100 million to help build affordable workforce housing for nurses, firefighters and teachers in Orange County, where a typical home tops $1.2 million. The veteran executive of RSI Equity Partners and other ventures ranging from commercial cabinet making to homebuilding over decades gave the seed funding to RSI Dream…

A Koreatown property owner has pushed through plans to build a seven-story hotel and apartment complex, despite some local pushback. The Los Angeles City Planning Commission has approved plans by Mike Barry to build a 60-room hotel with 20 apartments at 3216-3222 West 8th Street and 800-814 ½ Mariposa Avenue, Urbanize Los Angeles reported. It…

Brookfield Asset Management is once again in hot water with a lender for a big downtown Los Angeles office tower. The alternative investment giant’s lender for its 1.4 million-square-foot Bank of America Plaza office tower at 333 South Hope Street has transferred a $400 million debt secured by the property to a special servicer, which…

A Redondo Beach real estate broker has launched a new proptech platform that aims to streamline services for other brokers and agents. StackWrap, a startup based in Redondo Beach founded by Max Fitzgerald, launched its platform in May to consolidate the in-house workflow of brokerages into one online space, the Los Angeles Business Journal reported.…