Hermosa Beach
REAL ESTATE
J. Lo and Ben's $68M Mansion Is Most Popular, Followed by the $17M Home of a 'Below Deck' Guest
Amid rumors of a split, Ben Affleck and Jennifer Lopez have decided to part ways with the Beverly Hills, CA, megamansion they purchased just last year. Listed for $68 million, the 38,000-square-foot compound known as Crestview Manor is the week's most popular home on Realtor.com®. The recently rebuilt and...
Column: Long Beach needs tens of thousands of new homes to address the housing crisis
Last week I wrote a column about how other cities are building tens of thousands of new homes to address the housing crisis. Long Beach has been lagging far behind the production in cities like San Diego and Oakland. Just 635 homes were permitted in 2023, according to housingdata.app. That’s not enough.
East L.A. rental market is heating up!
Eastern Los Angeles has seen the largest year-over-year jump in rental competitiveness, soaring from 25th place to break the top 20 at the start of this rental season to rank ninth. This dramatic rise is primarily due to a sharp increase in lease renewals (from 42.1% one year ago to 52.7% now).
New 163-Unit Affordable Housing Project Breaks Ground in Long Beach's Midtown
The City of Long Beach has officially embarked on a journey to expand its affordable housing inventory with the groundbreaking of 1400 Long Beach, a new 163-unit complex catering to low-income families. Located in the heart of Midtown, the project aims to transform a previously vacant lot into a community-enhancing residential space. Mayor Rex Richardson, at the ceremony said, "We are thrilled to begin construction for this exciting project in Midtown," and emphasized the city's ongoing mission toward increasing affordable housing availability.
Successful Transaction: Historic 612 S. Broadway sold for $16M
The historic building at 612 S. Broadway was sold for $16 million, according to Cushman & Wakefield. The sale of the 80,000-square-foot landmark in DTLA’s historic core was brokered by the Cushman & Wakefield team of Mike Condon Jr., Erica Finck, Reid Gratsch, Brittany Winn, and Kylie Rawn, in partnership with Mark Zakarian.
Coldwell Banker Brokers $33.7M Sale of Seville Gardens Active Adult Community in Huntington Park, California
HUNTINGTON PARK, Calif. — Coldwell Banker Commercial West has arranged the sale of Seville Gardens Apartment Community, a seniors housing property located at 2701 Randolph St. in Huntington Park. Seville Gardens LLC sold the asset to Equity Consultants Equity Inc. for $33.7 million. The buyer plans to maintain the...
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