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[Originally published at Pacific Research Institute]
The most unaffordable city in the world in which to rent a home is not New York or Tokyo or Hong Kong. The title belongs to San Francisco, where a single person who wants to live on their own needs to earn more than $85,000 a year to pay the rent and a family more than $163,000.
Not far behind is Los Angeles, ranking 10th in the world, according to the 2017 Rental Affordability Index compiled by Nested, an international real estate service.
Continue reading “Rent Control Would Put Housing Out of Reach for More Californians”
San Francisco-based Carmel Partners snapped up a West Los Angeles development site for $49.5 million from a real estate investment firm headed by Beverly Hills developer Alan Casden, according to Real Capital Analytics.
Continue reading “CASDEN DEVELOPMENT SITE IN WEST LA SOLD FOR $50 MILLION”
High-end retailer Fred Segal has signed a lease for 22,000 square feet in a new residential building on the Sunset Strip, bringing an iconic fashion name to a part of West Hollywood better known for its clubs and nightlife.
Continue reading “Fred Segal Inks Lease for Sunset Strip”
By: Tom Georges, Associate Director/Investment Sales, The Stan Johnson Company
Tom Georges was interviewed by Jaime Lacky of Northeast Real Estate Business regarding the state of the net lease market.
Single-tenant investment sales volumes have risen steadily since the end of the Great Recession, with 2015 posting a total of $19.3 billion in the retail sector in the U.S., $21.7 billion in office properties and $22 billion in industrial properties, according to a report by Stan Johnson Company. Northeast Real Estate Business recently spoke with Tom Georges, associate director of Investment Sales with Stan Johnson Company’s New York City office, for insight into the net lease market.
Continue reading “THE NNN MARKET”
Controversial plans to construct two high-rise towers, a hotel, and lots of restaurants and shops on two city blocks in South Los Angeles cleared an important hurdle Tuesday, winning unanimous support from the city’s Planning and Land Use Committee.
In endorsing the project, the committee rejected two appeals that had been filed against it over its size and lack of affordable housing. The plans now move to the City Council for final approval.
Continue reading “‘THE REEF’ GETS ANOTHER APPROVAL”
A big residential and commercial complex designed by Frank Gehry for the eastern end of the Sunset Strip got the final approval it needed Monday from the Los Angeles City Council.
Continue reading “FRANK GEHRY SUNSET STRIP PROJECT GETS APPROVAL FROM LA CITY COUNCIL”