Los Angeles is at a historic tipping point. Between the implications of Measure ULA and a reconstruction boom in wildfire-ravaged neighborhoods, luxury developers are strategically positioning for 2026.
At a panel hosted by BSH and The Real Deal at the BSH Beverly Hills showroom, industry leaders discussed the ongoing friction between regulation and market potential. Much of the conversation centered on Measure ULA, the city’s widely-debated “mansion tax.” While voicing frustration with the policy’s execution, Mike Leipart, co-founder of Redeavor, stressed a desire for “common-sense governance” to the standing-room-only crowd. “We don’t need new laws unfairly taxing people because they’ve been successful,” he told the standing-room-only crowd. “Enforce the laws we have.”
Jade Mills, a top luxury broker at Coldwell Banker, echoed the concern, warning the tax — alongside shifting commission structures — is making some sellers hesitate. “It’s actually stopping a lot of our sales,” she said. “A lot of people are saying, ‘We’re going to wait to sell.'”
The panel also pointed to a renewed emphasis on quality, security and the broader perception of the city. Ramtin Ray Nosrati, owner of Huntington Estate Properties, argued that Los Angeles needs a brand revival. “We need to bring sexy back to LA,” he said. He also touched on the political climate, labor shortages and the urgency of speeding up rebuilding in fire-affected areas. “We already had a major issue with labor,” he said. “Our labor prices have gone up, because now there’s a shortage.”
Head over to the Appliance Innovation Hub to explore the world of BSH, and be sure to join BSH and TRD for the next Building Luxury event in Miami on April 15. If you’d like to apply to be a speaker at a future event, reach out to remy.williams@therealdeal.com for more information.
The evening marked the latest installment of BSH and TRD’s Building Luxury event series, following stops in Washington, D.C., Chicago, Beverly Hills and Houston, and featuring candid, in-depth conversations with leaders shaping the high-end residential market. Explore highlights from previous events, and apply to attend upcoming 2026 Building Luxury heads events across the country, beginning with our next event in Miami on April 15.
BSH is proud to host conversations that bring together leaders from across the industry. The perspectives shared belong to the speakers and do not necessarily reflect the views or positions of BSH.