by Greg Wasik | Oct 23, 2024 | Los Angeles Real Estate and Appraisal News
The American housing market continues to struggle, with existing home sales projected to hit their lowest levels since 1995 for two years running. Buyers remain hesitant to enter the market due to a combination of steep home prices and high mortgage rates. Data from...
by Greg Wasik | Oct 4, 2024 | Los Angeles Real Estate and Appraisal News
According to The Real Deal via the Commercial Observer, the Union Bank Plaza at 445 South Figueroa Street in Downtown Los Angeles just closed for $80 million or $114 per square feet. This selling price sets a new record low for high-rise office buildings in downtown...
by Greg Wasik | Sep 24, 2024 | Los Angeles Real Estate and Appraisal News
Recently the Irvine Company sold the Symphony Towers office building, a 34-story 530,000 SF property in downtown San Diego per The Registry Southern California Real Estate. All the way back in 2002, the Irvine Company purchased the property for $134.3 million or...
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...
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