Month: August 2024

A couple posted on Reddit with a question from their search for a Pasadena-area home. They “love” their broker, they wrote. Still, they hope to negotiate her commission under the new NAR rules, and asked fellow Redditors if it was true they must sign papers before seeing a single property.  Enter a myriad of responses…

Irvine, an Orange County city miles from the beach, has become the hottest residential market in the nation. Over the past year, the price of a median priced home in the central OC city jumped 20.8 percent to $1.56 million, the highest run-up in the U.S., the Los Angeles Times reported, citing a review by…

A Los Angeles litigation attorney found a buyer for his Malibu estate, trading it for $31.7 million. The 7,269-square-foot Point Dume home at 28823 Cliffside Drive is yet another ultra-luxury deal for Malibu in what is shaping up as a red-hot year for the beach town. Property records show the seller was Brian Strange, founder…

Madison Realty Capital has unveiled the look of a proposed 18-story apartment building in Santa Monica on an approved site once filed as a builder’s remedy project. The New York-based private equity firm plans to build the 172-unit highrise at 1433-1437 6th Street, Urbanize Los Angeles reported, which cited renditions unveiled on social media and…

Brian Niccol, the incoming CEO at Starbucks, may require employees to report to their offices and cafes — while he works from his home in tony Newport Beach. The head of the Seattle-based coffee chain, hired this week from the helm of Chipotle Mexican Grill, will be allowed to run the company nearly 1,200 miles…

Lease a property to one of the biggest companies in the world — and L.A.’s hottest chains — and the financing will follow. Hackman Capital Partners and Affinius Capital have scored a $75 million loan to refinance Culver Steps, a 121,000-square-foot office and retail project in Culver City, according to property records and a report…

Costa Mesa has set its first bar for affordable housing requirements on larger apartment projects. The City Council voted to require developers of complexes of 50 apartments or more to set aside between 4 percent and 10 percent for affordable housing, the Orange County Register reported. The number of subsidized units will depend on the…

UPDATED AUG. 15 at 2:30 p.m.: Burnham Development plans to turn a seven-story office building into housing for nearly 600 students at nearby Long Beach State University. The local development firm has filed plans to convert the 119,500-square-foot Park Tower into 149 student apartments with 593 beds at 5150 East Pacific Coast Highway, Urbanize Los…

MetLife Investment Management and Loews Hotels & Resorts have put their Hollywood hotel up for sale — with a steeply discounted price tag. The firms have listed the Loews Hollywood Hotel with a guiding price of $125 million — about $40 million less than what Loews paid for the property in 2012, according to Real Estate…

Kamini Lane stepped into the top spot at Coldwell Banker Realty last year. The president and CEO had her work cut out for her from the start. Lane joined the brokerage as the Sitzer-Burnett class action lawsuit continued to wind its way through Missouri federal court. New rules born out of the case settlements with…