by Greg Wasik | Sep 2, 2024 | Los Angeles Real Estate and Appraisal News
The historic Yamashiro restaurant and its surrounding 7.3-acre Hollywood Mountain property have been put on the market with an asking price of $100 million. Owned by a company led by producers Elie Samaha and Steven Markoff, the Japanese-themed site has been featured...
by Greg Wasik | Jul 30, 2024 | Los Angeles Real Estate and Appraisal News
In what may be a contrarian indicators of a bottoming market according to the WSJ, the 2nd quarter of 2024 saw commercial foreclosures hit $20.5 billion, the highest level since 2015. One difference now in the distressed market compared to before is that due to the...
by Greg Wasik | Jan 21, 2024 | Los Angeles Real Estate and Appraisal News
The San Francisco Centre, a vast shopping mall in Union Square, is now face with a significant decline in its estimated value, losing nearly $1 billion. Originally appraised at $1.2 billion in 2016, the property’s worth now stands at $290 million, as reported by...
by Greg Wasik | Dec 28, 2023 | Los Angeles Real Estate and Appraisal News
The AON Center in Downtown Los Angeles just sold for $147.8 million per the Real Deal. This sales price was a 45% discount from the October 2014 acquisition price of $268.5 million ($242/SF) paid by Shorenstein Partners. The buyer is Carolwood, a LA-based investment...
by Greg Wasik | Oct 28, 2023 | Los Angeles Real Estate and Appraisal News
Homestar Financial Corporation, headquartered in Gainesville, has declared its intention to discontinue its retail mortgage lending operations. The company, which has established itself as a prominent national mortgage purchase lender, has cited the increased...
by Greg Wasik | Oct 23, 2023 | Los Angeles Real Estate and Appraisal News
The U.S. Department of Housing and Urban Development (HUD) has recently introduced a significant policy change that promises to empower homeowners and promote housing affordability. This groundbreaking alteration allows the income generated from Accessory Dwelling...
by Greg Wasik | Oct 18, 2023 | Los Angeles Real Estate and Appraisal News
California has long limited Accessory Dwelling Units (ADUs), also known as “granny flats,” to be available exclusively for rent. However, a recent legislative development, Assembly Bill 1033, has changed the game by allowing Californians the opportunity to...
by Greg Wasik | Oct 3, 2023 | Los Angeles Real Estate and Appraisal News
Showing the weakness in the multi-family housing market in Los Angeles, last month Winstar Properties bought the 79-unit MetWest on Sunset apartment building for $27,500,000 per The Real Deal. The property was purchased by the sellers for $38 million in April 2019...
by Greg Wasik | Mar 15, 2023 | Los Angeles Real Estate and Appraisal News
Entrepreneur and talent manager Scooter Braun, known for guiding music stars like Justin Bieber and Ariana Grande, expanded his collection of high-value properties with the acquisition of a Santa Monica office building. Braun secured the 24,000-square-foot property at...
by Greg Wasik | Feb 26, 2023 | Los Angeles Real Estate and Appraisal News
Showing that algorithmic pricing of single-family home is not yet close to being perfected (see Zillow leaving the home buying game due to Zestimates being substantially off for the homes they acquired), Opendoor reported the 2nd quarter in a row of high losses. In...
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