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LA court strikes down SB9 law allowing single-family lot splits

A Los Angeles judge has struck down SB9, the California state law that allows homeowners to split single-family lots and build duplexes, ruling the law unconstitutional. Five Southern California cities — Carson, Redondo Beach, ...

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  • 27 Apr
  • The Real Deal
  • Uncategorized
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Multifamily development plans in California fall to 10-year low

Plans to build apartments in the Golden State have plunged to a 10-year low, dashing hopes of tenants that added units could usher in rent relief. State permits approved for multifamily housing in the first quarter fell 22 percent to ...

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  • 27 Apr
  • The Real Deal
  • Uncategorized
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Morgan Group chooses Chapter 11 for Inland Empire hotel

Morgan Group Holding has filed for bankruptcy on the Ontario Airport Hotel just months after its lender attempted to push the property into receivership.  The property, located at 700 North Haven Avenue, is a 10-story, 309-key hotel ...

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  • 27 Apr
  • The Real Deal
  • Uncategorized
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State names four Southern California jurisdictions as “prohousing”

Gov. Gavin Newsom has named four jurisdictions in Southern California as “prohousing,” including Los Angeles County, West Hollywood, Brea and Rancho Cucamonga. The state credited the four SoCal governments, plus six cities in Northern ...

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  • 26 Apr
  • The Real Deal
  • Uncategorized
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Realtor-backed group challenges City of Orange housing plan

The Realtor-backed Californians for Homeownership has challenged a state-approved housing plan from the City of Orange that includes thousands of homes in areas off-limits to residential development. The Los Angeles-based nonprofit ...

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  • 26 Apr
  • The Real Deal
  • Uncategorized
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Brookfield’s deal to sell 777 Tower in Downtown LA collapses

Brookfield Properties’ deal to sell 777 South Figueroa Street, a 1 million-square-foot office tower in Downtown Los Angeles, has fallen apart, according to sources familiar with the matter.  Consus Asset Management, an investment firm ...

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  • 26 Apr
  • The Real Deal
  • Uncategorized
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CIM Group tries again to sell office-condo project in LA’s Hancock Park

CIM Group, the Los Angeles-based developer and landlord, is once again seeking to sell its eight-story condominium and office project in Hancock Park. Located at 4680 Wilshire Boulevard, the project is fully entitled to convert some ...

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  • 26 Apr
  • The Real Deal
  • Uncategorized
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Swig finds new bottom with DTLA office sale at $94 a sf

The Swig Company has created a new benchmark for Downtown L.A. office sales — $94 a square foot, The Real Deal has learned.  The firm sold 617 West 7th Street, formerly the headquarters for Union Oil, for $20.5 million, or roughly 47 ...

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  • 26 Apr
  • The Real Deal
  • Uncategorized
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Spec home developer lists Beverly Hills PO manse for $29.5M

A spec home in Beverly Hills Post Office has hit the market for $29.5 million, more than eight years after the developer, Yosef Dangor, bought the property.  Josh Flagg at Compass is listing the home at 9705 Oak Pass Road for sale, ...

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  • 25 Apr
  • The Real Deal
  • Uncategorized
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Lori Loughlin puts Hidden Hills mansion up for sale at $18M

Lori Loughlin and Mossimo Giannulli have put their 11,800-square-foot mansion in Hidden Hills up for sale for $17.5 million, nearly twice what they paid for it four years ago. The “Full House” actress and the fashion designer have ...

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  • 25 Apr
  • The Real Deal
  • Uncategorized
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