This is the kind of story we love to hear about real estate. Back in 1980 a man named Robert Bush bought the car wash site at the corner of Figueroa and Olympic in Downtown Los Angeles for $525,000. Cut to just shy of 40 years later and the sales price is….a whopping $25 million.
Mr. Bush sold it to developer Ben Neman who has plans to turn it into a kaleidoscope looking 58 story mixed-use tower with commercial space, office space, hotel rooms and condominiums. There will be six underground levels of parking, floors 1-3 will be commercial, 373 hotel rooms and 374 condos.
Looks pretty cool from the rendering (see attached photo) as the designer Nardi Associates are incorporating greenery, LED lights and photo panels on the exterior. The developer is planning to start construction in 2020 with a completion date in 2023. Interested in investing in this property? Contact Yvonne Neustadter of The Property Lab for more information. Info@ThePropertyLabRE.com.
Are you looking for a brand new luxury home in Los Angeles? We have a new project to share in the prime location of the Wilshire Corridor called The Liddel. It’s nestled in the prime area of Westwood near UCLA. Great location in Los Angeles where you are a short drive to the new Waldorf Astoria Hotel, Santa Monica, Beverly Hills and the Century City Mall.
The Liddel features 56 residences and offers 1, 2 and 3 bedrooms starting in the $1.3M range. Some of the amenities include valet, concierge, rooftop terrace and wine room. Interested? Give us a shout 😉
The Liddell is located on the Wilshire Corridor at 10777 Wilshire Blvd Los Angeles California 90024 moments from prime Beverly Hills, UCLA and Santa Monica.
As you probably know, it’s a very hot real estate market and it is especially rampant for sellers. Right now sellers are getting top dollar for their properties and per the National Association of Realtors, they don’t expect a slow down until 2020. In fact, they specifically named Los Angeles as one of the cities where the market is especially strong and expect prices to hold through 2019.
Overall, real estate prices are forecasted to rise about 5% in the in-demand markets like LA & San Francisco. Buyer’s don’t wait and sellers this is the time! No one has a crystal ball as to what will happen so if you’re on the fence, do it now. #ContactTheLab
Last month was a big deal for The Property Lab and owner Yvonne Arias as we were the first to sell one of the 15th floor penthouse at W Residences Hollywood. Making history, this sale was a record for the building at just under $1300 per square foot and definitely one of the biggest sales in the area.
The condo sold was penthouse 15E at $2,950,000. There are only four of these “Above the Penthouses” remaining and prices start at $3.5M. #WorkWithTheBest
Lately, we are in awe of Century City with its shiny skyscrapers, uber clean streets, and its new, fabulous open air mall. To add to its desirability, The Century Plaza Fairmont Hotel is revamping itself from the ground up with new hotel rooms and 63 condominium residences. Its also adding two, 44-story towers behind it.
This project will surely be spectacular and we can bet on this being one of the most popular new residential projects in Los Angeles. The hotel building is scheduled to open in early 2019 and the two towers in late 2020. Prices start in the low $2,000,000 range and there are 1-4 bedrooms available with some being 2-story condominiums. We can’t wait to check this out. #ContactTheLab.
As most of our clients know, The Property Lab owner/broker Yvonne Arias has been doing much business at The Ritz-Carlton LA Live since it was nearly launched back in 2010. Right now, she has never seen the inventory so low for available leases and she needs inventory.
Are you looking to invest? Most recently we had some larger 1 bedrooms on the 39th and 40th floors go for $5950 with multiple offers. These are the G units and if you have interest to purchase one, please inquire with Yvonne. They start at $1.3M. Yvonne has several prospects that would like to lease 1 bedrooms but no inventory! There is also demand for 2 & 3 bedrooms so the options are open. #ContactTheLab
We all know that property in the Pacific Palisades commands big dollars, but now at least you have some new condo options vs. some of the older condo projects or traditional single family homes that Pacific Palisades currently offers.
If you’re looking to downsize from a big house, want another residence with ocean views or just want a new place altogether, this new project coming in mid 2018 is a great option for the beach area that’s still close to all the liveliness Los Angeles has to offer.
Located on a bluff on the corner of Sunset Blvd and Pacific Coast Highway, this project is called One Coast by Etco Homes (known for nice, luxury developments) and will consist of 53 townhomes and condos starting in the $3M’s. To the south you have Santa Monica and to the north you have Malibu so this location is stellar.
As far as size, they’ll be 3-5 bedrooms ranging from 2800-5000 square feet and Etco says they will all have ocean views. All have private elevators to each residence and some will have private driveways and garages. Sounds like it could be a pretty nice project. Definitely not easy on the wallet, but with the current hot sales market and high demand, these will definitely have their high-end buyers. Want to know more? #ContactTheLab.
For our investor clients, there’s a rare opportunity at the elite W Residences Hollywood for a condo under $700,000. This is a 1 bedroom priced at only $675,000 with an 18 month lease in progress at $4250 per month. Great income and to add to this, the seller is paying 9 months of HOA dues for the new owner.
Located in the epicenter of all things entertainment, neighbors include the famous Pantages Theatre, Capitol Records and Cinerama Dome to name a few. Besides that, tons of shops and restaurants nearby including our favorite Cleo at The Redbury Hotel. Additionally, for the Equinox enthusiast, there’s a new one a block away. It’s brand new and a fab way to work out from what we hear.
More highlights of this condo include brand new wide plank hardwood flooring, two sliding glass entries to the terrace space, upscale Poliform cabinetry & a large laundry room. We don’t know about you, but proper laundry room spaces make us happy & they’ll make your tenants happy too. Besides all these highlights, the amenities are the major star of this building. From the security, concierge and screening room to the 1/2 acre resident only rooftop park, these only scratch the surface of living at this prime Hollywood residence. Another reason why this building continues to be in such high demand. Again, asking price is only $675,000 and it’s ready to move. #ContactTheLab.
Boy does time fly! We had a great 2017 and still remained strong as ever at The Residences at Ritz-Carlton LA Live & The Residences at W Hollywood as the leading broker, but we also had some other great real estate transactions throughout Los Angeles and Orange Counties.
One particular highlight that stood out is our sale of 1410 Miller Drive in the Hollywood Hills. It’s in the 90069 zip code, the hottest and priciest zip in the hills, that sold for $3,000,000. This deal stands out to The Property Lab owner/broker Yvonne Arias because the client and his family are not only such wonderful people, but the seller was also great to work with. This deal definitely had its challenges, but in the end, we got it done and our client got this amazing new home with views that literally make your jaw drop.
As for 2018, we’re planning to make it just as successful, exciting and also planning to cherish every moment. In today’s fast-paced world, we wish you a slow and wonderful new year 😉