Archive for November, 2010

New Hollywood Blvd project slated out of economic ashes

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View from Hollywood Blvd, looking towards hills

Barring any lawsuits, New York-based Clarett Group is looking to break ground on its Blvd6200 project this January, Benjamin Reznik, lobbyist for the developer said yesterday following a city hearing regarding the apartment and retail complex. Clarett recently filed building permits with the city for its six-story, Van Tilburg, Banvard & Soderbergh-designed project, which will bring 1,014 new apartment units, and 175,000 square feet of commercial-retail space, to both sides of Hollywood Boulevard, between Argyle and El Centro Avenues. But is there a wrinkle to this Hollywood story? Naturally. The filing of building permits–the building was approved by the city years ago and has been delayed due to the economy –kicked up an appeal by homeowner Margarita Allen. Represented by well-known land use attorney Robert Silverstein, Allen’s appeal questions the haul route of the construction trucks.

Silverstein’s office asks, among other things, that haul trucks shall be staged onsite only, and no haul trucks be allowed to idle or park along Gower Street, Argyle Avenue, Carlos Avenue, or Vista Del Mar Avenue. At yesterday’s Planning and Land Use Committee meeting to discuss the matter, Ms. Allen didn’t appear, but Daniel Wright, attorney for Silverstein’s office, spoke, arguing the city to consider the points raised in the appeal. Additionally, the appeal asks that start times be moved to 9:00 am on Saturdays, rather than 8:00am.

Representing Clarett, Reznik told the committee mitigation measures had already been addressed. “We find the appeal disturbing,” he said. The planning and land use committee panel sided with Clarett and recommended rejecting the appeal of the haul route for the project (which has been largely supported by the neighborhood). Will Silverstein, who often (and sometime successfully) sues over Hollywood development, sue over this one? Stay tuned.

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Valerie Fitzgerald specializes in buying & selling luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the Westside Los Angeles real estate brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business. For more information visit http://valeriefitzgerald.com or call 310-285-7515.

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New Westside Los Angeles Real Estate Listings: Nov 8 to 15

This weekly post encompasses ALL new residential single-family home listings from prior monday to current monday, all price ranges in these areas:

Beverly Hills, Beverly Hills Post Office, Sunset Strip, Bel Air, Westwood, Brentwood, West Los Angeles, Sheviot / Rancho Park, Beverlywood, West Hollywood, Venice, Marina Del Rey, Mar Vista, Santa Monica, Pacific Palisades, Mid Los Angeles, Mid Wilshire Corridor, Hancock Park, Miracle Mile, Hollywood, Silver Lake, Los Feliz Hollywood Hills, East Malibu, Malibu Beach.

Download Below: Westside Los Angeles Residential Real Estate New Listings: Nov 8 to 15

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the Westside Los Angeles real estate brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business.

To preview these properties contact Valerie at info@valeriefitzgerald.com call 310-285-7515 or visit http://valeriefitzgerald.com

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WeeklyNewListingsForBlogNov8-Nov15.pdf (79 KB)

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Newly remodeled Santa Monica Place announces holiday events, deals for shoppers

Santa Monica Place, which reopened in August after a massive renovation, is trying to keep the momentum going this holiday season with an expansive lineup of events.

The now open-air shopping center, which sits adjacent to the Third Street Promenade just blocks from the beach, will feature a “one-of-a-kind modern performance tree.” The lights on the 50-foot-tall tree “actually groove to a custom-created soundtrack from KCRW DJs,” said the mall, which called the tree more art installation than traditional Douglas fir.

A musical tree-lighting celebration will take place on Saturday, Nov. 20, from 6 to 7 p.m. and will feature local performers and an appearance by Santa. After the event, holiday tree performances — we’re guessing this involves the grooving lights — will run nightly every 30 minutes after dark through the end of the year.

Also throughoug the season, the shopping center will be holding random gift card giveaways and offering mall-specific weekly savings guides.

For a full list of events, click here.

From L.A. Times

Valerie Fitzgerald specializes in buying & selling luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the Westside Los Angeles real estate brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business. For more information visit http://valeriefitzgerald.com or call 310-285-7515.

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Westside Los Angeles Residential Real Estate Sales November 5 to 12

This weekly post encompasses ALL sales from Friday, November 5 to Friday, November 12 all price ranges, single family only, in these areas:

Beverly Hills, Beverly Hills Post Office, Sunset Strip, Bel Air, Westwood, Brentwood, West Los Angeles, Sheviot / Rancho Park, Beverlywood, West Hollywood, Venice, Marina Del Rey, Mar Vista, Santa Monica, Pacific Palisades, Mid Los Angeles, Mid Wilshire Corridor, Hancock Park, Miracle Mile, Hollywood, Silver Lake, Los Feliz Hollywood Hills, East Malibu, Malibu Beach.

DOWNLOAD BELOW: Westside Los Angeles Residential Real Estate Sales: Nov 5 to 12

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the Westside Los Angeles real estate brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business. For more information visithttp://valeriefitzgerald.com or call 310-285-7515.

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WeeklySalesForBlog-Nov5toNov12.pdf (61 KB)

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Foreclosure free helps home seizures decline 9% in October

Lenders repossessed 9% fewer homes in October, an indication that the foreclosure freezes put in place by several major banks could be slowing the record pace of home seizures this year, if only temporarily.

Whether the trend continues depends on how quickly the major banks correct their errors and resume foreclosing. Daren Blomquist, an analyst with real estate information site RealtyTrac of Irvine, which released the numbers, said the October data represented probably little more than a temporary slowdown.
“This is more of a blip,” he said. “We would expect, even when we have seen the big decrease in [repossessions], that we would see a similar increase down the road in a few months.”
Banks seized an estimated 93,236 homes nationwide last month, a notable drop from a record 102,134 homes seized in September but still 21% higher than the 77,077 in October 2009.

California experienced a decline of 23% from the previous month, with 13,754 homes seized. Home repossessions in Florida increased 1% to 13,434, but Blomquist attributed the rise to that state’s slower reporting process and said he expected declines there when November figures are reported.

Several major lenders announced foreclosure freezes beginning in late September. The largest, Bank of America Corp., has declared a national moratorium on foreclosure sales — which clearly has affected repossessions in California.

Last month the bank said it had completed a review of its processes in the 23 states where a court judgment is required to take back a home, which does not include California and many other Western states. Of the 102,000 cases that were part of the bank’s review, some are proceeding to foreclosure. That remains the only exception to the bank’s national freeze.

Ally Financial Inc. and JPMorgan Chase & Co. also have halted foreclosures in the 23 states where court approval is required. PNC Financial and Litton Loan Servicing have said they were reviewing their processes.

Overall, the number of homes in the foreclosure process nationally decreased 4% from the previous month for a total of 332,172 and was unchanged from October 2009. A total of 100,575 properties received default notices, the first step in the foreclosure process, down 2% from the previous month and off 19% from a year earlier.

From LA TImes: alejandro.lazo@latimes.com

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the Westside Los Angeles real estate brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business. For more information visit http://valeriefitzgerald.com or call 310-285-7515.

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Three Tips for Achieving Success in a Tough Economy

In an interview with Better TV, Valerie talks about the importance in finding creative solutions to business and personal challenges.

“When you start being creative things start transforming in your business, personal and physical worlds and the process gets you on the right path,” says Valerie.
Three Tips for Achieving Success in This Economy…

1. Be Consistent.
2. Prioritize Your Lists.
3. Organize and Create Support Systems.

View the video on YouTube at http://www.youtube.com/user/ValerieFitzgerald#p/u/0/mDwnQYkl-cQ

For more tips on how to reinvent your life check out Valerie’s book Heart and Sold: How to Survive and Build a Recession-Proof Business at Amazon.com.

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the Westside Los Angeles real estate brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business. For more information visit http://valeriefitzgerald.com or call 310-285-7515.

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New Listings: Westside Los Angeles Residential Real Estate Nov 1 – 8

This weekly post encompasses ALL new residential single-family home listings from prior monday to current monday, all price ranges in these areas:

Beverly Hills, Beverly Hills Post Office, Sunset Strip, Bel Air, Westwood, Brentwood, West Los Angeles, Sheviot / Rancho Park, Beverlywood, West Hollywood, Venice, Marina Del Rey, Mar Vista, Santa Monica, Pacific Palisades, Mid Los Angeles, Mid Wilshire Corridor, Hancock Park, Miracle Mile, Hollywood, Silver Lake, Los Feliz Hollywood Hills, East Malibu, Malibu Beach.

Download Below: Westside Los Angeles Residential Real Estate New Listings: Nov 1-8

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the Westside Los Angeles real estate brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business. For more information visit http://valeriefitzgerald.com or call 310-285-7515.

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Beverly Hilton hotel may get new owner

Owners of the Beverly Hiltonmight sell the Wilshire Boulevard landmark, now that they have an idea what property in the vicinity is currently worth.

Oasis West Realty confirmed Monday that it has engaged international hotel brokerCushman & Wakefield Sonnenblick Goldman to test the market for a potential sale.

Oasis has not set a price, but the eight-acre parcel next door at 9900 Wilshire Blvd. sold for $148 million last month to investors from Hong Kong and Singapore. The buyers intend to build luxury condominiums on the site formerly occupied by a department store.

The nine-acre Beverly Hilton property at the intersection of Wilshire and Santa Monica boulevards in Beverly Hills also may see more development. Oasis, led by investor Beny Alagem, has secured approval for the addition of a new 170-room, five-star hotel and two luxury residential buildings totaling 110 units.

The owners would be required to preserve the original 352-room tower and ballrooms completed in 1955. Later additions totaling 217 rooms would be razed to make way for the new development.

Oasis plans to proceed with the development within the next year or two if it doesn’t receive an offer it finds acceptable.

“The Beverly Hilton is a world-famous hotel with a legendary history,” said Rob Stiles, executive vice president and principal, head of the western region for Cushman & Wakefield Sonnenblick Goldman. “Given Mr. Alagem’s desire to begin development within the next 12 to 24 months, now is the right time to explore the alternative of a sale.”

Oasis bought the hotel at the end of 2002 for a reported $130 million and has spent an additional $81 million on improvements completed in 2006, upgrading its Forbes hotel rating from three stars to four in the process.

–Roger Vincent, Los Angeles Times

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the Westside Los Angeles real estate brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business. For more information visit http://valeriefitzgerald.com or call 310-285-7515.

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Westside Los Angeles Residential Real Estate Sales October 23 to November 5

This weekly post encompasses ALL sales from Friday, October 23 to Friday, November 5 all price ranges, single family only, in these areas:

Beverly Hills, Beverly Hills Post Office, Sunset Strip, Bel Air, Westwood, Brentwood, West Los Angeles, Sheviot / Rancho Park, Beverlywood, West Hollywood, Venice, Marina Del Rey, Mar Vista, Santa Monica, Pacific Palisades, Mid Los Angeles, Mid Wilshire Corridor, Hancock Park, Miracle Mile, Hollywood, Silver Lake, Los Feliz Hollywood Hills, East Malibu, Malibu Beach.

DOWNLOAD BELOW: Westside Los Angeles Residential Real Estate Sales: Oct 15 to 22

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the Westside Los Angeles real estate brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business. For more information visithttp://valeriefitzgerald.com or call 310-285-7515.

Connect with Valerie…

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Valerie Fitzgerald Group Sold: 305 North Tigertail Brentwood, CA

Walled and gated on highly desirable Tigertail, this emotional Mediterranean with fabulous entertaining / living spaces is private and powerful. Approximately 8,400 square feet, all rooms radiate from a dramatic entry into the central heart of the home, which boasts soaring 25-foot ceilings and is overlooked by elegant wrought iron balconies.

The formal living room with fireplace has a big bay window beaming with light, and a double-height library has built-in walnut book cases and a fireplace. Formal dining room is perfect for family gatherings, and a huge state-of-the-art eat-in kitchen opens to a spacious family room — truly sensational space. French doors open to an expansive grassy yard and pool, creating a sensational environment to live and entertain. Upstairs is an oversized master with sitting room, large tumbled limestone bath and two generous walk-in closets. 4 additional family bedrooms en suite plus an upstairs office opening to a magnificent terrace.

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the Westside Los Angeles real estate brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business. For more information visit http://valeriefitzgerald.com or call 310-285-7515.

Connect with Valerie…

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