Fom left: Dorit and Paul Kemsley, Jason Yaselli, Adam Lambert, and Usher Raymond (Credit: Linkedin, Wikimedia Commons, Getty Images) This broker was a burglar, authorities say. A Keller Williams agent and Beverly Hills resident was arrested for his role in a string of burglaries of celebrity homes, including those belonging to Usher and Adam Lambert. […]
More than 10K new apartments hit the LA market in 1 year. That wasn’t enough
Downtown Los Angeles (Credit: Wikicommons) In case anyone missed the memos that Los Angeles County desperately needs more housing, here’s a reminder. The number of new apartment units that went online in L.A. County doubled year over year, according to Marcus & Millichap’s multifamily report. But even that wasn’t enough to meet demand. Overall vacancy […]
Low mortgage rates boost homebuilding stocks despite recession anxiety
Homebuilding shares are close to their highest levels of the year thanks to low mortgage rates (Credit: iStock) Signs may be pointing to a potential recession, but low mortgage rates have boosted homebuilding shares, which are nearing their highest levels of the year. A composite of homebuilding stocks — known as the SPDR S&P Homebuilders […]
Weedmaps will stop promoting illegal pot shops, commercial cannabis redevelopment project gets big financing: Daily digest
Every day, The Real Deal rounds up Los Angeles’ biggest real estate news. We update this page at 9 a.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 Illegal pot shops are on the rise in L.A., and Weedmaps will stop […]
Disgraced casino mogul Steve Wynn drops $43M on Palm Beach estate
Steve Wynn and 1960 South Ocean Boulevard (Credit: Sotheby’s and Getty Images) Embattled casino mogul Steve Wynn paid $43 million for an oceanfront estate in Palm Beach, property records show. Emma Cisneros of 1960 South Ocean Blvd. LLC, part of the billionaire Venezuelan family that owns a media conglomerate, sold the eight-bedroom, 24,600-square-foot mansion at […]
Slice of land from Jerry Perenchio portfolio hits market for $15M; mansion plans included
From left: Jerry Perenchio, architect William Hefner and renderings of the property (Credit: Getty Images, Redfin) A land-only listing in Bel Air belonging to the estate of the late billionaire Jerry Perenchio has hit the market. For $15 million, the buyer gets the 1.41-acre lot, along with plans to build a 16,000-square-foot mansion. The property […]