Los Angeles Business Journal

LA REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...

Immigrant Developer Rebuilt Life in Los Angeles

REAL ESTATE: Late exec Jona Goldrich, 88, found success with apartments. Developer Goldrich Kest hopes to build on the legacy of late co-founder Jona Goldrich.

By Daina Beth Solomon August 26, 2016 midnight   Share

Apartments Set to Sprout Up Next to Los Angeles River

An industrial strip of Casitas Avenue in Glassell Park is about to get several hundred little homes. New York-based real estate company Pan Am Equities just purchased a 5.6 acre site there for $22 million with plans to build a 400-unit apartment complex.

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Events Connect Downtown

Kennedy Wilson broker Justin Weiss, 35, began hosting his No Networking Allowed Young Downtown Party in 2008 for friends working in the area who were bored of networking events that felt like job interviews.

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Bijan’s Rodeo Drive Store Fetches $122 Million

Bijan’s yellow store on Rodeo Drive sold last month for $122 million, or $19,405 a square foot, to the parent company of Louis Vuitton, according to CoStar records.

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Santa Clarita Winery Estate Ripe for Purchase

When Barry Goldfarb needs a change of scenery, he can drive half an hour from his Bel Air home to Agua Dulce in Santa Clarita. The 90-acre site is more than a countryside estate; it’s L.A.’s largest vineyard and winery. The site just hit the market for $12.8 million, listed by Partners Trust Commercial brokers Dario Svidler and Robert Morton.

Hollywood Hotel Site Purchased for $16.5 Million

A Chicago-based company is joining the flood of developers building hotels in Hollywood. Oxford Capital Group recently purchased a one-story office on North Cahuenga Boulevard that it plans to replace with a seven-story luxury hotel.

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Spaced Out

Downtown loses ground in parking cost battle

Development in downtown is driving up parking costs as spaces disappear.

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Skater on Board With Arty Venue

Chad Muska’s role includes serving as curator at space backed by Supra brand.

Skateboarder Chad Muska rolls into a pop-up creative space in collaboration with Supra brand.

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Kitchen ‘Incubator’ Helps Concepts Avoid Heat

DINING: Unit 120 founder sees space as means for chefs to cheaply test ideas.

Alvin Cailin’s Unit 120 offers room for restaurateurs to cook up menus and business plans.

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Long Beach Office Sells to Anaheim Firm for $26 Million

A steel and glass office building on the east side of Long Beach just sold for nearly $26 million, according to a source familiar with the transaction. The nearly 120,000-square-foot property called Park Tower was purchased by Anaheim-based Milan Capital Management from Bahrain-based Investcorp Bank B.S.C. The sale translates to just under $218 a square foot.

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Playboy Mansion Sells for $100 Million to Twinkies Mogul

Hostess Brands co-owner Daren Metropoulos has purchased the Playboy Mansion for $100 million, he said in a statement. The deal, which allows 90-year-old Playboy Enterprises Inc. founder Hugh Hefner to spend the rest of his life living in the storied Holmby Hills estate, closed $100 million below the asking price, but likely marks a record home sale for Los Angeles.

L.A. County Aims for Long Future at Gladstones Restaurant Site

When Gladstone’s lease expires in October 2017, the Pacific Palisades beachside restaurant may be eligible to snag a four-decade lease that would encourage investors to put up millions in renovation funds.

West Adams Retail Center Built in 1924 Sells for $6.6 Million

A West Adams retail center built in 1924 sold for $6.6 million, or $295 a square foot, to a buyer who plans to convert the 22,400-square-foot site into a senior day care center.

L.A. Real Estate Companies Post Solid Quarterly Earnings

Ares Management revenue jumped to $304 million, Colony Capital Inc. had solid quarter ahead of merger, Aecom rebounded with earnings, and Jacobs Engineering Group Inc. held steady with revenue.

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Offices Created In Arts District

REAL ESTATE: Developers tap hipster haven for projects.

Developers hope downtown’s blossoming Arts District works as a home for office properties.