Los Angeles Business Journal

LA REAL ESTATE

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

High Reward, High Risk

The tallest tower in the West offers risk for its developer, but makes a significant statement about Los Angeles.

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Palms Office Sells for $68 Million

The Sepulveda Center, a shiny blue tower in Palms emblazoned with the TrueCar Inc. logo, has sold to San Francisco-based real estate investment firm Swig Co.

Echo Park Demolition Plans Put On Hold

As soon as Beverly Hills developer Palisades Capital Partners announced plans in July to demolish a chunk of the former Metropolitan Water District building just outside of downtown, historic architecture buffs sent up the alarm.

Malibu Golf Club Back in Play After $30 Million Sale

The Malibu Golf Club is finally emerging from the financial muck of the recession. The 650-acre property sold for $30.5 million to Chinese company Shinhan Golden Faith International Development Ltd. after being in the hands of a court-appointed receiver.

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Record Sale Could Cost House of Bijan Home

Last Rodeo?

House of Bijan could be left homeless on Rodeo Drive as the new owner may tear down its storefront.

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Development Measure Yet to Find Poll Position

REAL ESTATE: Battle over restrictive initiative yields rival claims of support.

The L.A. city election might not be until March, but both sides of the Neighborhood Integrity Initiative battle have released polls showing completely opposite results.

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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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.

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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.