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  • Wannabe members of Malibu’s new Soho House must want it for ‘the right reasons’

    Exclusive social club is in the midst of aggressive expansion, with new outpost coming to Arts District
    May 31, 2016 08:30AM
    SoHo House West Hollywood at 9200 Sunset Boulevard (SoHo House West Hollywood)

    SoHo House West Hollywood at 9200 Sunset Boulevard (credit: SoHo House West Hollywood)

    Soho House, the exclusive London-based club for creative elites, is debuting its Malibu outpost this week, but not all of its members will be invited.

    Diverging from its policy of open access for paying members to any of its 17 global locations, the new Billionaire’s Beach oceanfront club is instituting a policy that means existing L.A. members will have to apply specifically for membership and cite their personal connection to Malibu, according to the Hollywood Reporter.  [more]

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  • Most Popular on The Real Deal

    May 31, 2016 07:30AM

    Current reader favorites:

    1. Organic food market inks lease at luxury Culver City development 

    2. Lion sells Arts District property for almost 3x what it paid in 2013 

    3. Trump is making millions selling land around his LA golf club

    4. Small lot neighborhood could be coming to San Fernando Valley

    5. Could Los Angeles effectively regulate Airbnb?

     

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  • Screen Shot 2015-05-22 at 4.32.47 PM

    The Real Deal won’t be posting any stories on Monday, May 30 — but will keep our eyes peeled for any breaking news. Don’t forget to check back Tuesday morning, when we’ll resume regular posting.

    Enjoy the sunshine! — TRD

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  • Mani Brothers to buy the Landing in Playa Vista from Hudson Pacific for $80M

    WeWork recently leased 78,000 sf in the building
    May 27, 2016 05:24PM By Hannah Miet
    A rendering of the Landing in Playa Vista and Victor Coleman, the CEO of Hudson Pacific Properties

    A rendering of the Landing in Playa Vista and Victor Coleman, the CEO of Hudson Pacific Properties

    West Hollywood-based Mani Brothers Real Estate Group, run by brothers Simon and Daniel Mani, is in contracts to buy the Landing, a Playa Vista office complex next door to the building it acquired last March, The Real Deal has exclusively learned. [more]

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  • Could Los Angeles effectively regulate Airbnb?

    Everything you need to know about the fight over Airbnb in L.A. County
    May 27, 2016 03:30PM By Cathaleen Chen
    Attendees from Saturday's forum (credit: Roy Samaan)

    Attendees from Saturday’s forum (credit: Roy Samaan)

    In West Hollywood, short-term rentals are illegal.

    Yet tourists looking to take a stroll down the Sunset Strip over Memorial Day weekend have the option to stay at the dozens of Airbnb units currently listed on the website.

    In WeHo, and elsewhere in La La Land, policy makers are struggling to figure out how to regulate and enforce regulations on the service, which has taken the county by storm. Los Angeles is the second-largest market in the U.S. for Airbnb, the now ubiquitous short-term rental platform that boasts more than 2 million listings worldwide. The only place where it has a larger presence is New York, according to report by Penn State University’s School of Hospitality Management. [more]

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  • Rents at Crescent Heights’ new Century City high-rise will be as high as $25K per month

    New 40-story property has 75,000sf of amenity space
    May 27, 2016 03:00PM By Katherine Clarke
    Ten Thousand on Santa Monica Boulevard

    Ten Thousand on Santa Monica Boulevard

    Crescent Heights’ new high-rise on the border of Beverly Hills and Century City is about to push the limits of high-priced rentals.

    Rents are the building will start at $8,500 a month and go up to $25,000 a month for the top-floor penthouses, the developer told The Real Deal. That’s close to four times the average apartment rent in the L.A. area, according to rental data site RentJungle. As of February, the average apartment rent within 10 miles of L.A. was $2,094, according to the site. [more]

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  • City Planning releases part one of DTLA rezoning plan

    DTLA 2040, or the Downtown Community Plan, aims to bring policy up to speed with the city's changes
    May 27, 2016 02:03PM
    The Place Types map (credit: DTLA2040.org)

    The Place Types map (credit: DTLA2040.org)

    Catching up with DTLA’s growing repertoire of developments, the City of L.A. is now drafting a rezoning blueprint that would guide development in the changing landscape and replace two outdated community plans.

    As part of the development of a comprehensive Downtown Community Plan, dubbed DTLA 2040, City Planning has published a new interactive map that breaks down DTLA and some surrounding areas into nine regions. Its the first step in creating a new zoning code that is expected to be adopted in 2017.  [more]

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  • Fredrik Eklund, Ryan Serhant and Luis Ortiz (Credit: Bravo)

    Fredrik Eklund, Ryan Serhant and Luis Ortiz (Credit: Bravo)

    From the New York site: On this week’s episode of “Million Dollar Listing New York,” our three heroes make one thing clear — they’re willing to do anything to get the job done.

    Whether it’s crashing a top developer’s suite at a Nets game, tolerating a co-broker who absolutely despises every fiber of your being or dropping thousands of dollars to “become” a pop culture icon, our three heroes are ready and eager to put their pride aside and money on the table to hear the three most coveted words in real estate: “It’s a deal.” [more]

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  • A small lot neighborhood could be coming to the San Fernando Valley

    David Spiegel is planning to build 51 small lot homes on a four-acre site
    May 27, 2016 11:36AM By Cathaleen Chen
    The parcel of land at 7000 North Woodlake Avenue (credit: Google Earth)

    The parcel of land at 7000 North Woodlake Avenue (credit: Google Earth)

    As L.A.’s precious land supply continues to dwindle behind its rapid growth, developers are doing whatever they can to optimize the available space.

    Woodland Hills-based developer David Spiegel is the latest firm to take a crack at high-density housing. And he’s planning it in the typically more suburban-sprawling Valley. [more]

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  • Lion Real Estate Group sells Arts District property for almost three times what it paid in 2013

    Meanwhile, as prices escalate, the AD still lacks an anchor office tenant
    May 27, 2016 11:09AM By Hannah Miet
    From let: Jeff Rinkov of Lee & Associates, Jeff Weller of Lion Real Estate Group and the property at 2020 East 7th Street in the Arts District

    From let: Jeff Rinkov of Lee & Associates, Jeff Weller of Lion Real Estate Group and the property at 2020 East 7th Street in the Arts District

    In 2013, Lion Real Estate Group purchased two 1920s era warehouses in Downtown L.A.’s Arts District for just under $5 million.

    Three years later, Lion sold the buildings at 2014-2020 and 2028 East 7th Street for nearly thrice what it paid. ASB Real Estate Investments, a subsidiary of B.F. Saul Co., bought the two buildings for $14.9 million, or a whopping $665 a square foot, in a deal that closed Thursday, The Real Deal has exclusively learned. [more]

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