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The Real Deal Los Angeles

When it comes to price per square foot, Venice Beach beats Beverly Hills and Bel Air

Property featured on "Californication" recently sold for $2,900 psf

A Venice Beach home featured in ‘Californication’

For $100 million homes, L.A. buyers typically look to Beverly Hills and Bel Air. But on a price per square foot basis, Venice Beach is actually pricier, according to a new report from listings aggregator Trulia.

Trulia pegs the median home value in Venice at $1,440 per square foot, significantly more than Beverly Hills’ $1,049 per square foot and Bel Air’s $778 per square foot, according to data cited by the Robb Report. Prices for homes in the area have risen by 54 percent since 2012, it said.

Designer and developer Kim Gordon, who recently sold a 3,500-square-foot home in the area for $1,428 a foot, attributed the dramatic uptick in values to the emergence of L.A.’s Silicon Beach neighborhood, which is home to a growing number of tech and media firms.

“Tech people are now descending here, and they want larger homes where they can live and work and do everything,” she told the Robb Report. Still, Venice is unlikely to take over from Beverly Hills or Bel Air in terms of total purchase price in the near future, since the homes in those neighborhoods tend to be much larger.

Other recent sales in Venice include a $14.6 million deal for a 7,500-square-foot compound featured on the television series “Californication.” At $2,900 per square foot, that deal was the priciest ever closed in Venice. [Robb Report]Eddie Small