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REAL ESTATE
A Horror Filmmaker’s Former L.A. Home Just Hit the Market for $4.2 Million
If the walls of this historic Los Angeles house could talk, they’d probably begin with relating stories of what it was like to serve as a onetime gathering spot for German and Austrian intellectuals at the invitation of writer Franz Werfel and his socialite wife Alma, the widow of composer Gustav Mahler. They also might chatter a bit about the duo of Hollywood scions who once resided here—Dennis Hopper’s designer daughter Marin, who shared the place with her entrepreneurial husband John Goldstone, as well as Michael Landon’s youngest son Christopher, a horror filmmaker known for flicks like Disturbia and Happy...
“Hollywood Mountain” Hits The Market, Expecting Offers Over $100MM
Avison Young team tapped to sell the “unicorn” 7.3-acre historic landmark property. Los Angeles, CA – Avison Young has been exclusively retained to sell an iconic private, 7.3-acre compound overlooking all of Los Angeles at 1999 N. Sycamore Avenue. Including the legendary Yamashiro restaurant and surrounding developable acreage, the one-of-a-kind landmark site is rebranded as Hollywood Mountain. The property could yield offers over $100 million.
The Iconic Yamashiro Hollywood Property Is On The Market For 100 Million Dollars
Yamashiro Hollywood’s property — a renowned Hollywood landmark known for its views, food, and even being featured in films — has hit the market for $100 million. The expansive 7.3-acre area, which includes the famed Japanese restaurant, is now being listed by Avison Young at 1999 North Sycamore Avenue, nestled in the historic Hollywood Hills. Constructed in 1914 by brothers Eugene and Adolph Bernheimer, the estate was inspired by a manor in Japan’s Yamashiro province. Throughout its storied century-long existence, it has served various roles, including a brief stint as the exclusive 400 Club during Hollywood’s golden age in the 1920s. Notably, the property is home to a 600-year-old pagoda, imported from Japan, believed to be California’s oldest standing structure. Enduring neglect during World War II due to anti-Japanese sentiment, the estate was revitalized in the 1960s by entrepreneur Thomas O. Glover, who transformed it into the beloved Yamashiro restaurant. Recent ownership transitions saw the Glovers selling to Chinese hotel operator JE Group in 2016 for nearly $39 million. Despite initial uncertainties, subsequent operators like BNG, Sugar Factory, and TCL Chinese Theatres have preserved its legacy as a cultural and culinary landmark in Los Angeles.
Actor Rob Lowe Lists Luxurious Beverly Hills Estate for $6.6 Million
Mansion is Located in the Prestigious Franklin Canyon Area. Rob Lowe has put his estate in the prestigious Franklin Canyon neighborhood of Beverly Hills up for sale. Tomar Fridman at Compass is the listing agent, and the Compass description calls it a remarkable residence on Franklin Canyon Drive that spans 2,940 square feet. The description says it is a stunning property that features four bedrooms and four-and-a-half bathrooms, blending contemporary elegance with the tranquility of its natural surroundings.
The Founder of the Fear of God Label Has His Designer-Done L.A. Home Listed for $14.9 Million
Having stitched up a $20 million deal for a snazzy compound in Beverly Hills earlier this year, fashion designer Jerry Lorenzo, founder of the high-brow streetwear label Fear of God, has hoisted his perfectly tailored home in L.A.’s Los Feliz neighborhood on the market for $14.9 million.Exclusive: First Look Inside 200 East 75th Street, N.Y.C.'s Latest Luxury Development Originally built in the 1930s for the Ralph family, the founders of the Ralph’s grocery store chain, now owned by Kroger, the Spanish-style home sits on Nottingham Avenue, one of the neighborhood’s more coveted streets. It was later owned by soap star Ronn...
Invitation Homes to pay nearly $20 million to settle unpermitted renovations lawsuit in California
One of the largest single-family-home rental companies will pay almost $20 million to resolve claims it systematically made renovations without permits in California.
‘Lookout’ for the reopening of El Mirador
The El Mirador is now, after many years off the market, preparing to reopen. The apartment complex is one of the oldest in West Hollywood, constructed almost a century ago in 1929. The building, named a local cultural resource in 1992, once boasted tenants like Jean Harlow and Betty Grable.
Matthew Stafford selling Hidden Hills home 2 years after buying it from Drake
Matthew Stafford has been busy in the real estate market since arriving in Los Angeles three years ago. In that short period of time, he’s purchased multiple homes in Southern California, including a $28 million mansion in Hidden Hills that he bought at the end of 2023. In 2022,...
Report: Brookfield to Sell Downtown LA’s 777 Tower for $120MM
In a sign of the times for the office real estate market, Downtown Los Angeles’ iconic 777 Tower is poised to change hands for $120 million. This significantly discounted sale, confirmed by multiple sources in a report by Commercial Observer, marks a dramatic turn for a property that once stood as a symbol of commercial opulence in the city.
Spec Mansion Sale Marks Highest Deal in Palisades in Nearly Two Years
The Deal Was Made Within Just 18 Days on the Market. The sale of a luxurious property at 538 Chautauqua Blvd has set a new record for the Pacific Palisades area, fetching $32.3 million in just 18 days. This sale marks the highest transaction in the area for both 2023 and 2024.
The Rise of Single-Family Rentals in Los Angeles: What Investors Need to Know
Astute real estate investors are always looking for new methods to enhance and safeguard their fortune. Real estate has long been hailed as the foundation for accumulating money as it offers special chances. However, potential investors are sometimes turned off by the hands-on nature of managing rental properties. Turnkey real estate investment is an inventive...
Hollywood Compound Hits the Market; Offers Could Exceed $100M
Avison Young has been exclusively retained to sell a private, 7.3-acre compound overlooking Los Angeles at 1999 N. Sycamore Ave. Including the Yamashiro restaurant and surrounding developable acreage, the landmark site is rebranded as Hollywood Mountain. The property could yield offers exceeding $100 million. The Avison Young team tapped to...
New six-story affordable housing development breaks ground in Midtown
The Long Beach Boulevard project will include 163 units for low-income and extremely low-income residents and is on track for completion in mid-2026. Mayor Rex Richardson, City officials and representatives from Meta Housing and Bank of America stuck their shovels in the dirt at 1400 Long Beach Blvd. on July 19, marking the start of construction on the city’s newest affordable housing development: 1400 Long Beach.
Average Rate on 30-Year Mortgage Rises to 6.78%
LOS ANGELES (NEWSnet/AP) — Mortgage rates inched higher this week, keeping the average on a 30-year mortgage essentially flat and near the 7% range it has been for most of 2024. The rate rose to 6.78% from 6.77% last week, Freddie Mac said Thursday. A year ago, the rate...
Housing Element Meeting Thursday Evening
United Neighbors, a statewide coalition of neighborhoods, is asking residents to attend the Planning Department’s public meeting this Thursday evening at 6:30 p.m. and support the department’s Housing Element rezoning draft. “It’s a huge, complicated document that has exceptions for every rule and allowances/incentives for every circumstance,” wrote...
LA County Multifamily Vacancies Rise and Rents Reach New Highs
Strategic Investors Navigate Tight Credit Conditions and ULA Tax Challenges. In Q2 2024, the multifamily sector experienced another uptick in the vacancy rate, rising 20 basis points quarter-over-quarter and 40 basis points year-over-year to 5.1%. New construction was a key driver of this increase, with newly completed units contributing to a rise in the average asking rent per unit. Following an uptick in the first quarter, the average rent rose again by half a percentage point quarter-over-quarter and by seven-tenths of a percent year-over-year, reaching a record high of $2,207 per unit per month, with 3,715 newly completed units added to the market in Q2 – up 56.9% form Q1 2024.
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