Every day, The Real Deal rounds up Los Angeles’ biggest real estate news. We update this page at 9 a.m., 12:30 p.m., and 4 p.m. PT. Please send any tips or deals to tips@therealdeal.com
This page was last updated at 9 a.m. PT.
Jimmy Stewart’s former Brentwood home (Credit: Sotheby’s International Realty)
Jimmy Stewart’s Brentwood bachelor pad sold for $8.3 million. It was the first time the half-acre property and its 4,600-square-foot home traded in 60 years. The ranch home appears to have changed little since his time living there, and could be a development opportunity for the buyer. [Town and Country]
L.A. is explores mandatory inclusionary zoning citywide. That would require developers to include affordable units in residential projects regardless of location. Councilmember Gil Cedillo instructed the city planning department to explore the issue to ensure “certain parts of the city [are not] responsible for meeting the entire city’s affordable housing goals.” [Curbed]
A.J. Khair’s planned hotel at 544 S. Pacific Avenue
A hotel developer in San Pedro is not happy. A.J Khair Development and Construction submitted plans last year for an 80-room hotel on 6th Street and Pacific Avenue, but an L.A. zoning administrator in April knocked that down to 67 rooms. The developer is appealing, claiming the 80-room project is appropriate and has support from local elected officials. [Urbanize]
It’s been a good year for real estate stocks. Real estate firms saw highs on the stock market in June and July — in anticipation of the Federal Reserve’s interest rate cut. TRD analyzed how some of the top public landlords, brokerages and more performed on the market so far this year. [TRD]
Elliman’s Fredrik Eklund and John Gomes
Fredrik Eklund and John Gomes dish on their plans for L.A. — and New York City. Ahead of tonight’s debut of Season 8 of “Million Dollar Listing New York,” star brokers Fredrik Eklund and John Gomes sat down with The Real Deal for an exclusive interview about what Eklund’s move to Los Angeles means for them, their team and their business. [TRD]
New York City’s most important construction lender may be on shaky ground. Bank OZK has handed out money to the city’s top developers for years. But there’s drama behind the scenes, including infighting and allegations of sexual misconduct and age discrimination. [TRD]
Compiled by Dennis Lynch