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The Real Deal Los Angeles

  • The Clintons are expanding their footprint in New York’s Westchester

    They paid $1.2M for three-bedroom ranch home on Old House Lane
    September 23, 2016 04:30PM
    Hilary Clinton and 33 Old House Lane

    Hillary Clinton and 33 Old House Lane in Chappaqua

    From the New York website: Hillary Clinton and her husband Bill are expanding their foothold in Westchester County, picking up the house next door to their place in Chappaqua. [more]

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  • Numb3rs star barely breaks even with $4.5M Santa Monica sale

    Rob Morrow's original asking price was $7.2M
    September 23, 2016 03:30PM
    Rob Morrow and the home at 562 Stassi Lane

    Rob Morrow and the home at 562 Stassi Lane

    The numbers are in, and they don’t look good for Rob Morrow.

    The former “Numb3rs” actor finally sold his Santa Monica abode, but at an almost $3 million discount to his original asking price of $7.2 million nearly a year ago. [more]

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  • Coastal commissioners sued for $22M in ex-parte lawsuit

    Nonprofit group seeks fines for 590 alleged violations
    September 23, 2016 02:00PM
    Coastal Commissioners before casting a vote

    Coastal Commissioners before casting a vote (Credit: MassisPost)

    A nonprofit organization filed a civil lawsuit earlier this month against five California Coastal Commissioners for alleged violations in disclosing closed-door meetings regarding developments.

    The complaint, served by a nonprofit organization called Spotlight on Coastal Corruption, claims Commissioners Erik Howell, Martha McClure, Wendy Mitchell, Mark Vargas and Steve Kinsey failed to reveal or inadequately disclosed ex-parte communications a total of 590 times in the past two years, the Los Angeles Times reported. [more]

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  • The rise of the modern spec home

    New breed of luxury buyer favors sleeker designs
    September 23, 2016 12:00PM By Marcie Geffner
    Located north of Sunset Boulevard, a spec home at 9133 Oriole sold for $27 million.

    Located north of Sunset Boulevard, a spec home at 9133 Oriole sold for $27 million.

     From the L.A. print issue: Many of the luxury homes in the most coveted sections of Los Angeles — such as the area north of Sunset Boulevard, Holmby Hills, and of course, Beverly Hills — were designed to look like Italian villas or Spanish ranch houses. But the concept of Southern California chic is evolving. Some of the biggest multimillion-dollar deals in the past year involve modern contemporary homes that were built on spec by ambitious developers. These homes are brand new, with the sleek lines and angles of the modernist architecture that emerged in the early 20th century. [more]

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  • Another two residential projects filed in the Ktown area

    Plans include condos and affordable housing
    September 23, 2016 10:45AM By Cathaleen Chen
    743 Gramercy Place and 610 Van Ness Avenue

    743 Gramercy Place and 610 Van Ness Avenue

    In the latest stream of never-ending news about Koreatown, two multifamily projects were filed Thursday within five blocks of each other. [more]

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  • Marriott closes on $13B Starwood purchase

    Combined companies run 5,700 hotels across 110 countries
    September 23, 2016 09:30AM
    The W Hotel in Union Square

    The W Hotel in Union Square, New York City (credit: Starwood Hotels)

    From the New York website: This time, no mysterious Chinese suitor showed up at the last minute. Marriott International closed on the $13 billion acquisition of Starwood Hotels & Resorts. [more]

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  • Are the days of sprawl over for LA?

    Experts weigh in on LA's upward — not outward — expansion
    September 23, 2016 08:30AM
    The downtown skyline is framed by cranes at a construction site near Staples Center in 2006.

    The downtown skyline is framed by cranes at a construction site near Staples Center in 2006. (Credit: Getty)

    Has L.A. run out of developable land? Mayor Eric Garcetti seems to think so.

    “What’s that old cliché?” Garcetti said in a recent interview with The New York Times. “The sprawl has hit the wall in L.A.” [more]

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  • Most popular on The Real Deal

    September 23, 2016 07:30AM

    Current reader favorites:

    1. Spoils of war: What does Brangelina own in real estate?
    2. Jamison buys Champion’s Hollywood development
    3. Three Compass agents return to Coldwell Banker
    4. Mayor Eric Garcetti and the building boom
    5. CushWake poaches CBRE’s business development team

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  • City may seek resi developer for DTLA park

    Angel's Knoll has been fenced off since 2013
    September 22, 2016 04:45PM
    Courtesy of Fox Searchlight pictures

    Courtesy of Fox Searchlight pictures

    A shuttered Downtown Los Angeles park could soon be taking bids from multifamily developers.

    Los Angeles City Councilmember Jose Huizar submitted a motion to the city Wednesday to initiate the process of finding a developer to purchase the 2.4-acre site known as Angel’s Knoll, Urbanize reported. [more]

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  • Majestic Asset Management buys Thousand Oaks’ largest industrial building for $37M

    Seller was AIG subsidiary Western National Life Insurance Company
    September 22, 2016 02:22PM By Cathaleen Chen
    The property at

    The property at 1461 to 1475 Lawrence Drive

    Van Nuys-based real estate company Majestic Asset Management recently doled out $37 million for the largest industrial building in Thousand Oaks, according to a release from CBRE.

    The management firm paid about $107 per square foot for the 347,119-square-foot building, which sits on 18 acres of land. The average submarket rate for buildings larger than 100,000-square-foot is about $120 per square foot, according to CBRE broker Nick Gregg. [more]

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