Home prices are falling, rents are rising, and a penthouse fetched a near-record price in a data-fueled week of real estate news.
which sees him travel around in search of signs of healing during our divided times.
To unveil one of the grandest penthouses ever to be built in Los Angeles, its developers threw a little dinner party,Two dozen of L.A.’s top real estate agents — the sunglasses-indoors kind who regularly appear on reality television — were tended to by a cadre of young women in identical cream-colored outfits, hired for the evening to serve as “personal concierges.
A sizable marketing machine is now spinning up to get a blockbuster deal done soon, before looming economic concerns threaten to damp rich-buyer behavior. Developer Townscape Partners has been stoking anticipation for the penthouse for years and is looking to capitalize on L.A.’s scorching luxury condo market, which continues to rack up enormous sales even as real estate overall has started to cool.
The mixed-use seven-story building, with a facade evoking craggy cliffsides, can house 252 students in dormitory-style units. It includes commercial retail space on the first floor, which sits mostly vacant with the exception of a sandwich shop.
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