Month: February 2025

Brett White’s Lake Sherwood estate offers the kind of exclusivity and resort qualities associated with the properties operated by the development firm he helms. Now CEO of Discovery Land Company after six years as Cushman & Wakefield’s CEO, White is asking $15.9 million for his 12,000-square-foot property sitting on a 3.5-acre lot, which Redfin data…

Mayor Karen Bass has collided with major resistance from homeowners and drawn legal challenges from developers over plans to build nearly 2,400 affordable apartments in the San Fernando Valley to address L.A.’s housing shortage. Initially proposed under the mayor’s Executive Directive 1 initiative to expedite housing construction, the projects aimed to provide low- and moderate-income…

Koreatown landlord Mike Barry has gotten a green light to build a six-story hotel, with an extra seventh floor featuring apartments on top, a reversal from a previous plan to go all-in on the lodging aspect. Owner Mike Barry was approved by the Los Angeles City Council to construct the seven-story building, including a 60-room…

The tally is in for the firestorms that swept through half of Altadena and the Pacific Palisades: up to $30 billion in real estate losses. The Eaton and Palisades fires last month torched 9,700 single-family homes and condominiums, nearly 700 apartments, more than 2,000 units inside duplexes and bungalow courts, and up to 373 mobile…

A raft of Pacific Palisades land listings has flooded the market, drawing big interest from buyers. Nineteen land listings are up for sale, with many of those properties hitting the MLS in the past two weeks, according to data provided by Amalfi Estates owner Anthony Marguleas. The past 24 hours alone saw seven properties listed,…

The son of a Colombian banking billionaire has listed a 13,900-square-foot hillside mansion in West Hollywood for $63 million, along with a 1.3-acre lot in Bel-Air for $39 million. Josh Gilinski, a son of banker Jaime Gilinski Bacal, has put his never-lived-in estate up for sale at 9214 Nightingale Drive, in the Bird Streets, the…

A foundation set up by billionaire developer Rick Caruso has planted a stake to rebuild single-family homes within Los Angeles burn zones, rather than change the housing makeup by erecting apartments. Steadfast LA, the nonprofit founded by the former mayoral candidate to help rebuild burned areas in L.A. County, has partnered with a prefab homebuilding…

Lender Corten Real Estate Partners is threatening to show Ron Burkle the door at Soho House & Co.’s swanky The Line LA hotel in Koreatown, The Real Deal has learned. RECP Sydell Wilshire — a Delaware shell company tied to the billionaire investor — defaulted on a $100 million loan backed by the 384-key hotel…

Los Angeles’ luxury inventory is creeping up. Demand is a different story. The supply-demand imbalance, reflected in the latest Eklund Weekly Luxury Report Los Angeles, offers signs of a possible slide to a buyer’s market with 114 new listings added to Los Angeles County’s inventory last week with an average absorption of 11.5 months. That…

Cityview’s plans for a nearly 500-unit apartment building on a block in Westchester received the OK from the Los Angeles City Planning Commission. The commission’s vote earlier this month now paves the way for Cityview to redevelop the site of an auto repair business and Del Taco into a 489-unit apartment complex with over 16,000…