Column: A special kind of crazy in L.A.: A $50-million condo in the land of homeless tents
2 years, 4 months ago

Column: A special kind of crazy in L.A.: A $50-million condo in the land of homeless tents

LA Times  

Wine is poured as the staff prepares a five-course dinner during a VIP event in June at 8899 Beverly development in West Hollywood. “That’s a lot of money,” Jeremy Poole said when I pointed up at the high-priced condo. Monaco, who rents a nearby apartment, told me that if he were rich enough to buy a $50-million condo, he would instead “help some people who need it, maybe downtown.” I did point out that on the upside, people who buy expensive homes pay a lot of taxes. Regarding the expected property taxes on that $50-million condo, I called L.A. County Assessor Jeffrey Prang, who helped me crunch the numbers. “You can’t go to dinner with people after work, and you can’t go to your kids’ ballgames,” he said of those who lose hours every day schlepping to and from work.

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History of this topic

Opinion: Can’t afford a house in L.A.? Here’s how that happened
1 year, 2 months ago

Opinion: Can’t afford a house in L.A.? Here’s how that happened

LA Times  

The housing price surge since 2020 in Los Angles County is truly eye-popping. One study by the California Legislative Analyst’s Office found that by the early 2000s, more than two-thirds of cities and counties in coastal California metro areas had slow-growth policies in place, and that when a community added such a policy, it resulted in a 3% to 5% …

West Hollywood penthouse sells for $21.5 million, the highest price for a condo this year
2 years, 5 months ago

West Hollywood penthouse sells for $21.5 million, the highest price for a condo this year

LA Times  

Vertical living has never been high on the shopping list for Southern California’s wealthy set. Built on the former site of the House of Blues, the $500-million complex has already set multiple records, including a 2,681-square-foot unit that sold last year for $13 million. So far this year, there have been 27 condo sales north of $5 million in L.A. …

What $400,000 buys in five L.A. neighborhoods
3 years, 4 months ago

What $400,000 buys in five L.A. neighborhoods

LA Times  

An Echo Park condominium on the market for $399,000. The address: 2135 Bellevue Ave., #2, Los Angeles, 90026 The price: $399,000 with $287 monthly HOA dues The specs: One bedroom and one bathroom in 640 square feet The agents: Elizabeth McDonald and Cristina Brow of TRG Realty Co. The address: 312 W. 5th St., #619, Los Angeles, 90013 The price: …

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