Rich Kids Real Estate Blog

Hot Topics in Real Estate and LA Life

Rich Kids Just Sold: 2 Week Escrow - The Chateau Brittany - 1323 N Hayworth Ave - 1br/1ba - LP: $630,000

unit-exteriorI am pleased to announce that we have just closed escrow on a spectacular unit at The Chateau Brittany (not Spears) in prime West Hollywood in an extraordinarily speedy two weeks! If you get my eblasts or are just a regular subscriber to my blog, you know that I am extremely client focused and ultimately that is where most of my satisfaction lies in this business. Nothing gets me more excited (well very few things - get your mind out of the gutter) than seeing my client’s face when the have found their dream home. This sale was especially satisfying because I had the most amazing buyer/friend who was my team mate every step of the way. Rich Kids never settle and to that effect, when we couldn’t find what we wanted on the market, we simply created the opportunity through networking with other agents and actual homeowner’s directly. Another member of our team to make this happen was the listing agent, Scott Segall, who went above and beyond for us to help procure a truly special property out of thin air. Whether you work with me or have another agent (which I know would never be the case), I cannot stress enough the importance of inter agent relationships. In this business I have seen and every so often have experienced agents who make every step of the process way more difficult than it needs to be. I’ve been fortunate that nine times out of ten there has been such an awesome synergy between the seller, buyer, myself, and the other agent. This collaboration does not only ensure that things run as seamlessly as possible, but can actually make the process fun!!! I am sad to see this close in some ways knowing that I won’t get to talk to the other agent on a daily basis. He was always cracking jokes and making me laugh! The thing that I am most proud of thus far since I started Rich Kids has been that all my clients have become good friends. It’s like the Facebook of real estate because my business has really served as a connector of people, friendships between my actual clients, and various opportunities outside of the real estate work. We all help each other out even after the deal is done, which is a pretty unique thing!

OK, I am putting out the camp fire and the kumbaya session has officially ended (this was just a particularly meaningful transaction). Let’s focus on the real star of this show…the property:

1323 North Hayworth Drive, Unit H, West Hollywood, CA 90046 - 1br/1ba, Roughly 960 Sq Ft - List Price: $630,000

Rarely do units become available in this landmark West Hollywood condominium arrangement. Once through the impeccably manicured privacy hedges, one enters a world of complete serenity and classic elegance. The central courtyard blends a heated swimming pool, fountains, spa, and lush greenery with decadent slate accents. Plush lounge chairs with seating areas positioned throughout the property offer a traditional resort atmosphere perfect for unwinding, entertaining, or to be used as a tranquil refuge to recharge from the delights this prime West Hollywood neighborhood has to offer (we experienced this first hand by having a bottle of Vueve by the pool).
 
The unit itself features a sophisticated elegance with espresso hardwood floors, crown moldings, generously proportioned rooms including a large formal dining room, gleaming tile work, floor to ceiling windows, and a grand balcony that allows one to marvel at the expansive beauty of this truly special offering.

Curious as to what the sales price is? Email me to find out :)

*Note - since the property was not listed these photos are from an old MLS post from 2006. The has been designer done since then (floors, paint, carpet, and light fixtures have been updated), but it gives you a flavor of the unit!

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New Construction Alert - Legendary Place - 1411 North Detroit Street - From $645,000-$999,000

livingdiningTo quote the Legendary Place website, “Finally someone has done it right” . I have to say I agree. Lately I’ve been a bit soured with the most recent new construction projects that have hit the market, so to me this project is a breath of fresh air. I’ve been following this development since it was in the initial framing stages. It’s right up the street from another project that I have written about and is a personal fave, 1322 North Detroit.  What is really appealing about Legendary Place is that it’s going back to the basics in the sense that the floor plans are livable and the construction quality feels substantial. There are ample closets, beautiful Viking kitchens (Plug From Your Sponsors at Viking: I swear I should be getting some sort of endorsement deal for as much as I mention them - did you know that Viking makes a mid range line of “affordable appliances”? Neither did I but they are staples in the units and look fantastic…my catch phrase if I were on V’s marketing team…”There’s just something about Viking…”), hardwood floors, an actual place to put a TV that doesn’t require an elaborate yoga pose and an engineer from NASA to mount so one can view.

When I look at new construction in terms of investments for my buyers (who are often first timers), I encourage them to look at property that is going to appeal to a wide range of buyers vs. a “niche” market. To me, an example of a “niche” property is a condo that’s very architectural, lofty, and spread out over 3-4 floors. You quickly eliminate the elderly, couples who might be starting a family, people who simply don’t like stairs or live with certain physical challenges, etc. 51% of all new home buyers are between the ages of 25-31 (thank you Monica D for that stat - your presentation wasn’t in vain) and hold on to a property for 5 years or less. With that said, I think it wise to buy something that could be appealing to almost anyone as you increase your chances for a quick sale if need be. In my humble opinion, Legendary Place has these components.

In terms of pricing, it might be listed slightly higher that what the market is dictating but it has just launched and it’s not so over the top like projects I’ve seen in the past. I’ve met the developer who is personable, friendly, and seems like he would work with the selling agent (Joe Reichling of Sotheby’s who is one of my favorite agents of all time) to make deals happen. This synergy of a reasonable developer, a strong listing agent, and a patient buyer is key to selling a project quickly. All those components are in check and I have no doubt this one will be a winner.

I’ll address the pink elephant in the room for those of you who think east of Fairfax is akin to the Watts Jungle - it’s not!  Something I have noted in the past which bares repeating is that I feel like west of La Brea (or Crescent Heights or even La Cienega) is the new “North of Wilshire” that was such a big deal in the 90’s. These is a great pocket of WeHo that offers you quick access to everything: Sunset Strip, Hollywood, Beverly Hills, Runyan Canyon, etc. This area is like a fine wine (not “2 buck chuck” although very clever comeback) - it  is only getting better with age!

1411 North Detroit Street, Los Angeles, CA 90046 - From $645,000-$999,00, Sq Ft Ranges from 1380-2085

At Legendary Place, the difference is in the details. Off Sunset Blvd, a few blocks from Runyon Cyn, sits the latest inspired vision from Legendary Developments. Twenty-three residences that unify superior design, modern convenience and a floor plan to suit every desire … all at the right price. The best materials and building methods have been used to create luxurious surroundings and an exceptional living experience. Finally, someone has done it right!

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Rich Kids is Pleased to Announce 4 New Escrows in Under 2 Weeks!

When I said that I had been too busy to blog over the last month, I wasn’t kidding! Buyer’s have recognized what an incredible time it is to buy and are wisely taking advantage of the opportunities out there while the getting is good! As you will see below, Metropol is back up and running. After it went to the banks in February, it sat vacant for quite some time while the powers that be decided what to do. Metropol is now being sold by a brokerage who specializes in bank owned, distressed properties and I have to say they really did the building justice. While I was selling it, it certainly had a chic presence and the developer was spot on with it’s execution. The new team warmed it up a bit with some new model units and launched with slightly below market pricing which has created a tremendous amount of velocity for the once seemingly doomed project. They managed to put 30 units into escrow in 3 weeks! Pretty amazing, but the selling team themselves should be credited for being nothing short of spectacular (shout out to Max and Jennifer - I appreciate your help more than you know).  Even Carlton Way itself has come a long way since February, with cute little craftsman cottages popping out where old abandon structures once were. Metropol is becoming the dynamic community it was always intended to be!

In  Escrow: The Chateau Brittany - 1323 North Hayworth, Unit H, West Hollywood, CA 90046 - 1br/1ba, Roughly 1000 Sq Ft - List Price $630,000

exteriorRarely do units become available in this landmark West Hollywood condominium arrangement. Once through the impeccably manicured privacy hedges, one enters a world of complete serenity and classic elegance. The central courtyard blends a heated swimming pool, fountains, spa, and lush greenery with decadent slate accents. Plush lounge chairs with seating areas positioned throughout the property offer a traditional resort atmosphere perfect for unwinding, entertaining, or to be used as a tranquil refuge to recharge from the delights this prime West Hollywood neighborhood has to offer.
 
The unit itself features a sophisticated elegance with espresso hardwood floors, crown moldings, generously proportioned rooms including a large formal dining room, gleaming tile work, floor to ceiling windows, and a grand balcony that allows one to marvel at the expansive beauty of this truly special offering.
 
This particular unit was not listed on the market. Rich Kids ensures that all clients get exactly what they want whether it’s listed or not!

In Escrow: Metropol  - 6001 Carlton Way, Unit 203, Hollywood, CA 90028 - 2br/2ba, Roughly 1200 Sq Ft - List Price $449,990

metropol-exteriorMetropol has finally been relaunched since it’s quiet exit from the market this past February. The new Metropol has a whole new attitude with newly staged model units, a now almost fully equipped fitness center, and pricing that had the property at over 51% in escrow within two weeks of reemerging.
 
It’s been exciting to not only see Metropol back on the market, but to also see Carlton Way make such a quick transformation. The street is dotted with redone craftsman style bungalows adding a fresh new perspective to the rapidly growing area.

In Escrow: 8337 Kirkwood Drive, Los Angeles, CA 90046 - 2br/1ba, Roughly 1088 Sq Ft - List Price $595,000

main-exteriorTucked away on a quiet hillside just minutes from the heart of the Sunset Strip sits this romantic, Spanish charmer. Loaded with original character while being move in ready, this 2 bedroom, 1 bath home features hardwood floors throughout with subtle strips of intricate chocolate colored accents, a cheerful stained glass window in the living room, and gas fireplace accented by Spanish tile work. A gracious, step up dining room leads to an expansive kitchen boasting a large greenhouse window and original antique 30’s style Roper stove/range that has been lovingly cared for throughout the years. A cozy, but substantial master bedroom with floor to ceiling French doors leads to a private, brick patio enveloped by the surrounding foliage for ample privacy. Pathways of stone bring you up the hill to a large patio ideal for BBQ’s and entertaining while overlooking the property below. A well preserved art deco tiled bathroom with separate shower/tub and a large second bedroom (currently used as an office) completes this jewel of a property that offers sanctuary from city life while thriving in the midst of it. Additional features include a 1 car garage with large storage space, central AC, new roof (2009 per owner), and recently updated copper plumbing throughout the entire home. Located on a wide street with plenty of opportunities for street parking in the highly regarded Wonderland School District.

In Escrow: Metropol - 6001 Carlton Way, Unit 309, Hollywood, CA 90028 - 1br/1ba, Roughly 920 Sq Ft - List Price $379,990

metropol-unitThe units at Metropol feature light American Oak hardwood floors, spacious/usable layouts, black carpeting in the bedrooms, and luxurious master chamber bathrooms inspired by some of the finest boutique hotels in the world. Each unit comes with 2 parking spaces and 47 guest spots perfect for gathering your friends for a quick pre party cocktail hour before heading out for the night.  A five minute (OK, maybe 7.5 minutes) walk leads you to the new Hollywood W for an elegant dinner at Innovative Dining’s (creators of BOA, Sushi Roku, Katana, etc) latest culinary masterpiece Dephine’s follow by drinks by the rooftop pool at Drakes.

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Hot Lease Opportunity in Beverly Hills - Large 1br/1ba - $3000/month

living-roomOver the last six weeks, I feel like there has been a constant theme to my blog, which is that I always start out by apologizing for the recent lack of updates. Today is no different. As I get older, I am not a huge believer in excuses but I am just going to toss one out there anyway. The good news for buyers is that the market is incredibly hot right now if you are ready to take the leap. Over the last 10 days, I have put four properties into solid escrows with the first closing August 20th. Nothing makes me happier than when I see that “light in my client’s eyes”, which although is subjective, is my litmus test as to whether or not they are really in love with a place. If I don’t see it, then it’s usually not their dream pad.  With that said, it’s been “balls to the wall” (for lack of a better term) workwise. Since I love what I do and am a self proclaimed real estate junkie/woraholic, I am savoring every minute of it. Unfortunately, it has left me with little room for anything else. I had a marathon of showing one day last week on a Friday and a client/friend called me around 6:30pm. I had to tell her I was in my pajamas waiting for a delivery from Pizza Hut - haha!  Now that I am able to catch my breath, I truly recommitting to updating on a regular basis as there is a lot to talk about and many Hot Props that our worth mentioning!

For those of you who follow my blog, today’s  Hot Lease  might look a bit familiar. I had it  listed for sale a few months back. When a seller approaches me to list their home, sometimes it makes sense to sell while other times it makes more sense to hold on to it fora while and just lease until things become a bit more stable. Such is the case with this unit. Many people had asked about a lease option while it was for sale. If you are one of those people, now’s your chance! This post hasn’t been altered too much from when I had it for sale.

As you know, I always try to remain objective about the properties I am presenting as well as other agent’s listings.  Objectively speaking with the research to back it up, I can say that this unit is without a doubt one of the nicest condos for lease in Beverly Hills within this price point. Beverly Hills has always been a mish mash of part amazing and part “I am only living in this place for either a) the school district or b) the prestige factor”. In the condo/apartment world, there is not much by way of new construction and slick modern amenities unless you are willing to pay a huge premium for it. More times than not, you will be entering a world of buildings built in the 20’s or 30’s (which can be cool if done right), crystal chandeliers (and not the cool kind from Bon Tempe), carpeting, old school bathrooms/kitchens, and that constant smell of moth balls that bring back memories of your great Aunt Sylvia. Parking can also be tricky with Beverly Hills leases.

This 10 unit architectural building was completed in 2004 and is the crown jewel of the neighborhood. With such patio-shotamenities as keyless entry into both the building and unit, impeccably kept common areas, fitness center, and side by side parking, there is nothing like it in the city. The unit itself is absolutely stunning and no expenses were spared to make this the ultimate pied-à-terre. There are gleaming hardwood floors throughout the entire residence, a gourmet kitchen with a complete Viking appliance package (fridge, range, microwave, and dishwasher included), creamy granite counters, inlaid ceilings in the living room with recessed lighting/thick crown molding, and a massive outdoor patio that is perfect for entertaining. The master is substantial with lots of natural light and an en suite bathroom with tasteful cararra marble dual sink vanities and shower (I say tasteful because many of us have witnessed how marble can go horribly array in BH). Another unique feature is a dressing suite/separate vanity/water closet to ensure your private quarters remain closed off to guests. There is an in unit washer and dryer, security system, and wiring for surround sound music. As I mentioned above, the unit does come with 2 gated side by side parking spots as well as guest parking.  Beverly Hills Unified School District,

130 North Swall Drive, Unit #103, Beverly Hills, CA 90211 - 1br/1ba, Roughly 960 sq ft - $3000/month, $3000 Security Deposit ($4000 deposit if one opts for the patio furniture to remain) - 1 year or more lease

STUNNING 1 BEDROOM, 1 BATH RESIDENCE IN ONE OF THE VERY FEW RECENTLY CONSTRUCTED ARCHITECTURAL BUILDINGS IN BEVERLY HILLS. THIS PRISTINE CONDOMINIUM FEATURES GLEAMING HARDWOOD FLOORS THROUGHOUT, RECESSED LIGHTING, AN INLAID CEILING, AND THICK CROWN MOLDINGS. A DECADENT CHEF’S KITCHEN OPENS SEAMLESSLY INTO THE LIVING AREA COMPLETE WITH A STAINLESS STEEL VIKING APPLIANCE PACKAGE, CREAMY GRANITE COUNTER TOPS WITH DETAILED ACCENTS, BACKSPLASHES, AND A DEEP PORCELAIN SINK. THE GENEROUS MASTER SUITE CONNECTS TO A SUMPTUOUS AND ELEGANT BATHROOM WITH DUAL VANITIES TASTEFULLY DONE IN CARARRA MARBLE. THERE IS A SEPARATE DRESSING AREA, WATER CLOSET, AND SINK TO ENSURE OWNER’S PRIVATE QUARTERS REMAIN CLOSED OFF WHILE ENTERTAINING. LARGE GLASS DOORS IN THE LIVING ROOM OPEN TO A MASSIVE OUTDOOR PATIO SPACE. WASHER AND DRYER IN UNIT. 2 SUBSTANTIAL SIDE BY SIDE PARKING SPOTS AS WELL AS ADDITIONAL GUEST PARKING. KEYLESS ENTRY TO UNIT/COMMON AREAS. Listed by Rich Kids Real Estate Group, Keller Williams Beverly Hills

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In Escrow in Under 10 Days - 8337 Kirkwood - Looking for Back Up Offers

living-room1I am pleased to announce that Kirkwood has now officially gone into escrow as of last week! As I had mentioned in my previous post, July has been a whirl wind of non stop work. We are able to get the house decluttered, staged, photographed, and into escrow in just over two weeks. Pretty impressive, right? I have to say that between this and other clients that are highly motivated to buy, I am beat! The good news is that I am a self proclaimed real estate addict and workaholic. You know how performers will often make a statements like, “I am at my happiest when I am on stage, in front of a camera, or posing nude for Hustler or Falcon” (you get the point)? I can put my own spin to that statement by saying, “I am at my happiest when I have a really amazing open house with a ton of great buyers and agents or am in the midst of a stable escrow with a buyer’s agent I adore”. Unfortunately, this comes at the expense of not having as much time to blog as frequently. I consider my blog an integral component to Rich Kids. When I don’t have the time to update, I am a little hard on myself about it. Now that there is small amount breathing room, I am back up and running with new “Hot Props” on the way. I am also compiling data right now for a summer recap of the market: trends, buying patterns, areas that have shown most growth, and some predictions as to what we can expect for the fall (my crystal ball should be fully functional by late August).

Circling back to the topic at hand, I have a wonderful buyer in escrow right now with a terrific agent. The one thing about a real estate transaction (especially a fresh escrow) is that it is not over until it’s closed and the buyer has been given their keys to move in. In this market, things can and often do change in the blink of an eye. With that said, I highly encourage anyone who has interest in the property to submit a back up offer. I’ve been in back up status recently and was ultimately able to get the property for my client (not to say I’ve haven’t had some that didn’t work out as well). I have had a lot of buyers wanting to submit just after the fact, so it’s definitely worth the effort if you are really in love the property.

With every new transaction, there is always something new to learn and some pearls of wisdom gained to pass along to anybody who is interested. What I have learned from Kirkwood is that it 100% validated my view on buying and selling in this market. It’s certainly not rocket science and I’m sure these will be no brainers to anybody who has worked with me , asked for advice, or just enjoys following the market. Here are the lessons to be learned:

Buyers:
1. If you find a home that is well priced and is exactly what you want - submit an offer! I had many people who fell in love with the property, but decided to wait literally 16 hours to write and lost out. It never hurts to get the ball rolling and it takes 20 minutes (OK more like an hour) to draft, sign, and submit.

2. If you have a buyer’s agent, make sure that they specialize in the areas that you are interested in buying. This is not to shamelessly promote myself (well maybe a tad), but in all seriousness you need an agent who knows the comps, has personally previewed said comps, and knows the local market. Not just with this property but also with other deals I am working on, I am shocked at how little these agents know about the markets they are representing. I know your mom’s best friend might be a top producer in Pasadena or even the Valley for that matter, but that doesn’t mean (s)he knows WeHo, Hollywood Hills, etc. This can be a major detriment to you if you are seriously looking to buy (or sell) in a specific neighborhood. Just something to keep in mind.

3. As I mentioned above, don’t be afraid to submit back up offers on properties that you are in love with. I sound like a broken record, but I want to reiterate that it is so worth your time to do so. You just never know in this market!
 
Sellers:
1. Look at the numbers, comps, price per square foot, and then go from there when establishing a listing price. There will always be special qualities/intangibles that each property has that will allow you to make adjustments, but it is key to listen to what the market is telling you.  The climate of 5 years ago is taunting us with the reality that people were paying double what they are today and it’s hard to let go of that idea. Especially in the 1 million and under sector, pricing is imperative. Price it well and you will get tremendous activity/quick offers as was the case with Kirkwood. Price it too high and you will quickly lose that initial excitement that the first two weeks generates. Often you will stand to make more off your sale when you start off on the right foot.

2. I say this all the time but keep it clean, chic, and the personal items to a minimum. I personally help all of my sellers declutter. To much “stuff” can divert attention from the house and place it on that huge Warhol Pop Art homage to yourself hanging over the fireplace.  Minimal brings maximum.

3. If you can, update as you go. Even if you have no intentions of selling, when the pipes break, replace them with copper. When the roof leaks, check for mold and then replace it. If the paint is starting to look a little weathered, repaint. Handling these items as they occur will make all the difference in the world if you one day find yourself needing to sell quickly.

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Rich Kids Proudy Presents Spanish Warmth and Charm off Laurel Canyon - 2br/1ba - $595,000

redone-exteriorIt’s been a couple of weeks since I have had the chance to blog. I am excited that my first post in a while is the announcement of my new listing off Laurel Canyon in the quiet enclave of Kirkwood Drive. Part of the reason for my lack of posts has been that the seller and I had been working hard to get the property ready for launch in under a week! I have to say that I am extremely proud of the both of us for how well it all came together in such a  short period of time! A very special shout out to my photographer and graphic designer, J Irvina (fotobyj@gmail.com). Without his extraordinary efforts, it would have been a challenge to meet our ad deadlines within the window he was given.  He’s an integral part of the Rich Kids team and I don’t know what I would do without him!

I have been lucky that Rich Kids not only seems to attract stellar clients that always become friends (it’s like the Facebook of real estate), but I am also blessed to get listings that I always fall in love with. This home is no exception. If you have been following my blog, I have a large stately Spanish on “Little Laurel Canyon” so this smaller Spanish is the perfect compliment to the Rich Kids collection.

Located on a wide street on upper Kirkwood, this special offering has the perfect blend of warmth, charm, and privacy while being a 5 minute drive to the heart of the Sunset Strip. The owner purchased in 1997 and has done extensive upgrades the home. As it was relayed to me, she installed a new roof in 2009, new copper plumbing in 2006, and central AC in 1997 when she moved in. To accommodate the AC she also installed a new circuit breaker and fuses. Usually I focus on the romance, but it’s quite rare to find a home in this price point that has the bulk of it’s major systems updated and is turnkey.

What is wonderful about this seller is that we really put our heads together to price the property at a number that is numerically based and reflective of what the buyer’s market is dictating. Typically I always blog about the property prior to launch as sort of tease. I inputted into the MLS on Sunday evening (7/11/10) and since that time, we’ve had about 80 people through the house between privates, caravan, and twilight caravan (I had close to 40 people for twilight, which is a extraordinarily rare occurrence). There have been so many showings that I literally lost my voice by the end of Tuesday night. I talk fast, alot, and sometimes loudly so this may be a blessing to my friends out there reading this! Right now the current days on market for this area is about 44 days. I don’t want to jinx myself, but I predict that we will beat that average by quite a bit! In my humble opinion, this is by far one of the best buys on the market (I swear I am not being biased).

Check out the property website: www.8337kirkwood.com for a full slide show.

8337 Kirkwood Drive, Los Angeles, CA - 2br/1ba - Roughly 1088 Sq ft - $595,000

Tucked away on a quiet hillside just minutes from the heart of the Sunset Strip sits this romantic, Spanish charmer. Loaded with original character while being move in ready, this 2 bedroom, 1 bath home features hardwood floors throughout with subtle strips of intricate chocolate colored accents, a cheerful stained glass window in the living room, and gas fireplace accented by Spanish tile work. A gracious, step up dining room leads to an expansive kitchen boasting a large greenhouse window and original antique 30’s style Roper stove/range that has been lovingly cared for throughout the years. A cozy, but substantial master bedroom with floor to ceiling French doors leads to a private, brick patio enveloped by the surrounding foliage for ample privacy. Pathways of stone bring you up the hill to a large patio ideal for BBQ’s and entertaining while overlooking the property below. A well persevered art deco tiled bathroom with separate shower/tub and a large second bedroom (currently used as an office) completes this jewel of a property that offers sanctuary from city life while thriving in the midst of it. Additional features include a 1 car garage with large storage space, central AC, new roof (2009 per owner), and recently updated copper plumbing throughout the entire home. Located on a wide street with plenty of opportunities for street parking in the highly regarded Wonderland School District. Listed by Rich Kids Real Estate - Keller Williams Beverly Hills

Easy to show by private appointment and will be open this Sunday (7/18/10) with extended hours from 1pm-5pm.

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Rich Kids New Lease Listing - The Rob Clark - 1+Den - $2300/unfurnished or $2400/furnished

living-room-main-2I  am excited to announce another new lease listing at The Rob Clark that I have just put on the market today! For those of you who read my blog regularly, I do a lot of leases in the building. This one is a particularly excpetional unit for the price. Aside from being lucky number 420 and owned by a wonderful guy, this sun drenched condo is a top floor, courtyard facing, furnished to perfection masterpiece! This is a second home for my client (who is the original owner) and uses it at most a few times a year, keeping it in pristine condition.

This blog post will seem pretty familiar since I have listed and leased quite a few units over the last year. For my new readers, here’s the scoop on The Rob Clark:

Many of you know that prior to starting Rich Kids Real Estate Group, I was the senior sales person for The Rob Clark  condo project through Hilton and Hyland, just one block from the heart of the Robertson shopping district. I came in at year two replacing another amazing sales person who left for NYC to pursue a very high end condo development. The Rob Clark is one of the coolest buildings in town - not just because the units are beautiful or it’s literally the best location in LA, but truly because of the people. I’ve been in 1 million condos (that’s an exact figure) and I have never met a cooler bunch of residents than that of the RC. In summer 2008, they actually did an article in the LA Times about the building being the real life “Melrose Place”. Especially if you are new to town, you will definitely make friends here. People have little get togethers in their units, there’s the pool crew on the weekends - it’s truly a special place! Curbed wrote this great piece making fun of the LA Time article entitled “You May Not Be Cool Enough to Live Here”: “Last month, we sort of mocked the Los Angeles Times‘ story on the Rob Clark, an article that suggested the new Los Angeles condominium building on Clark Drive–and its friendly, attractive residents– was a “Melrose Place” episode come to life. But after visiting the building last weekend, we must amend all past comments. The residents are super-friendly. And they are attractive! And not in some douchy, fake Hollywood way.”

The unit I am listing today is a top floor 1 bedroom +den/1 bath with a southern facing courtyard view. What’s dynamic about this unit are two things: 1) It’s particularly bright and sunny 2) The owner is offering it furnished (many of the units I list I tell the owners to take the furniture out ASAP as many are bachelors with no much flare for home decor which they will readily admit themselves) for $100 more with very nice/slick pieces and has structured the den space to feel very much like a luxe second bedroom. There is a entrance to the bathroom from both the den and the master hallway creating the Jack and Jill feel.  Features include dark hardwood floors throughout the entire unit, stainless steel kitchen with Caesarstone counters, European washer/dryer in unit, and glass tile shower with Wenge vanity. The building itself showcases a boutique hotel style lobby, full fitness center with two plasmas for your entertainment (que Adam Lambert), and a large courtyard heated pool.

141 South Clark Drive, Unit 420, Los Angeles, CA 90048 - 1 + Den - Roughly 772 Sq ft - $2300 unfurnished/$2400 furnished

1BR + DEN CONDO FOR LEASE AT THE NEWLY CONVERTED ROB CLARK AT AN AMAZING PRICE! 1 BLOCK FROM THE HEART OF THE UBER TRENDY ROBERTSON SHOPPING DISTRICT - WALK TO THE IVY, CHANEL, D&G, AND STARBUCKS! THIS TOP FLOOR, SUN DRENCHED CONDO W/ OPEN COURTYARD VIEWS FEATURES: BALCONY, DARK HARDWOOD FLOORS, KITCHEN WITH STAINLESS STEEL APPLIANCES, WASHER/DRYER COMBO IN UNIT, AND A DETAILED TUMBLED STONE GAS FIREPLACE. THE BATHROOM SHOWCASES HIGH END FIXTURES WITH WENGE STAINED VANITY, QUARTZ COUNTERS, AND A GORGEOUS GLASS TILE SHOWER. DEN IS CURRENTLY USED AS A SECOND BEDROOM BUT COULD EASILY BE AN OFFICE OR FORMAL DINING AREA. LARGE MASTER WITH SUMPTUOUS, CUSTOM WALK IN CLOSET COMPLETES THE UNIT. BUILDING HAS A BOUTIQUE HOTEL VIBE WITH A STUNNING LOBBY, FULL FITNESS CENTER, BBQ CENTER/PICNIC TABLES, AND RESORT STYLE POOL. AVAILABLE FULLY FURNISHED FOR $2400/MONTH WITH A $4800 SECURITY DEPOSIT. MOVE IN AUGUST 1ST! EASY TO SHOW!!!!

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What’s Your Definition of the Westside of LA? The Debate Amongst Angelenos

My best friend is a long time Westside resident and I too have spent my fair share living in that neck of the woods. We have never questioned the parameters of what was deemed West LA. It was a basic understanding and an unspoken truth that we shared with our fellow neighbors. From our post work-out free for alls at the Souplantation in the Brent-hood to our sheer glee followed by our utter despair when they opened  and then ultimately closed the first/last Chili’s to grace Westwood Village (fine, I totally own it - I love nothing more than Chili’s queso dip and a Blue Pacifico margarita to wash it down), we knew the mean streets of the Westside inside out…or so we thought.

Enter two boyfriends from polar opposite sections of Los Angeles: the Valley and Echo Park. They approached the Westside with trepidation and fear in their eyes. My (now ex) boyfriend was an east side/downtown guy to the core. He looked at the tree lined streets with bewilderment. Was he still in LA? Had he mysteriously landed on the set of “Desperate Housewives” and was now on Wysteria Lane? Where were the hipsters, the skinny jeans, the American Apparel store for God’s sake (this was years ago when AA made it’s way east to west and was uber hipster before it’s overpriced cotton V-necks became a staple in all of our wardrobes - Robertson Blvd it was not back in the day)?

My best friend’s boyfriend now Fiance is true and proud Valley. Simply utter the word Westside and he’s going to give you a 10 minute diatribe about the horrendous traffic he mysteriously seems to instantly encounter the moment he passes the threshold of Mulholland and Beverly Glen….at 10pm no less! This (and for some reason the topic of Jenna Jameson - don’t ask) always leads to a dinner debate with someone leaving the table not talking to the other. No matter how much evidence you provide him to the contrary, he views the Westside as a grid locked wasteland of pretension and high prices.

Two boyfriends each with two different perspectives on why West LA is not for them. Sometimes you just have to agree to disagree. That is until they started talking about Beverly Hills, West Hollywood, even east of Fairfax being the Westside. Whoa there! Did you just tell everyone that Crescent Heights and Olympic is WLA and that you are now a Westsider? Were we in the wrong? I can maybe give you Beverly Hills, but only as a favor. The rest is just plain crazy talk! This lead to whole new discussion  - what constitutes West LA? I’ll go first - my idea of West LA is everything west of Century Park East going to the ocean with the northern cap being Pacific Palisades, but not including Malibu which is an entity unto it’s own. To the south, the stopping point would be the Marina and to the south east, Culver City. Excluded from the Westside is definitely Westchester, Playa Del Rey, Ladera Heights, and El Segundo - to me these areas are more South Bay “adjacent”.

“Who cares”, “what’s your point”, you ask. On the heels of having that damn Westside equals traffic argument for tenth time last week came an article in the LA Times yesterday proclaiming that the Westside boundaries have been an argument amongst Angelenos for the ages. What was fun about it was that it gives you the option to draw your own parameters on the map and leave your own opinions. The comments alone are worth a read. As I mentioned yesterday it’s a slow week in real estate as we begin heading towards the fourth of July holiday, so I thought this might be a fun debate. What’s your definition of the Westside? Check out the article below from the LA Times and click here to leave a comment/draw your own map:

Is it a fixed place, with its own borders, customs and society, or only a state of mind? The Westsideis a familar concept to any Angeleno. We all know the basics. The Beach. The Pier. The 310 area code. The 405 Freeway. But when it comes down to details, could we actually draw it on a map? How far east does it run? Does it include Malibu? How about West Hollywood?

With no official definition, there’s no official answer. That’s why we’re opening up this debate to ask readers how they define the Westside. We’ll share our best guess, and then ask you to share your thoughts, and your maps, with everyone below.

*Not Official LA Times Map - Article Map is Interactive - Click Link

*Not Official LA Times Map - Article Map is Interactive - Click Link

The map above shows how The Times’ Mapping L.A. project frames the region’s 23 neighborhoods. Mullholland Drive’s sinuous path along the crest of the Santa Monica Mountains marks the northern edge. The city’s official boundary rounds off the northwestern corner and curves down the coast, stopping short of Westchester and LAX. Culver City, Pico-Robertson and Beverly Hills carve out the difficult eastern boundary, with West Hollywood, La Cienega Boulevard and Mid-City separating the central city.

“You gotta stop it somewhere,” said Doug Smith, the Times staffer responsible for drawing the boundaries. “Not everybody can live on the Westside.”

Where readers draw the line

No lines can capture the geographic diversity and demographic energy of Los Angeles. The Times staffer responsible for shaping the boundaries acknowledges the map isn’t perfect. That’s why readers are invited to submit their own definition. Using the tool at the bottom of this page you can submit your own map, or just post your thoughts on what defines the region.

The 10 latest posts are below. Click one to read the complete comment, or browse the whole list.

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Inexpensive Summer Fun While You’re Saving to Buy a Home

Champagne by the poolOK, summer “fun” might be a bit of a stretch, but since it’s a slow week in the world of real estate (not a ton of great inventory yesterday to showcase nor much by way of market news) I thought I would share some things to do and places to grab a bite while you are saving for that 20% deposit to put down on the purchase of your new home. Let’s face it, when you are a rich kid on a bud-jay (as in Tar-jay) for whatever the reason (maybe you are saving for your new home, just bought it, or are simply a flat broke rich kid in the making but love reading my blog), summer fun in the City of Angels can seem a little bleak when funds are tight. Don’t start selling your clothing to Wasteland just yet in order to afford that 1 drink at Trousdale - there is still hope for a good time!

1. Cheap Ice Cream In Beverly Hills- Rite Aid (formally known as Thrifty’s in the mid 90’s) on North Canon has some of the best/cheapest ice cream around. It’s rare that I’ve seen a pharmacy that has an ice cream parlor, but this particular one does and has been a BH staple forever. You can grab a huge double scoop cone for $1.75 and then walk past everyone as they head into sumptuous meals at Spago or Mastros - haha! It’s a cheap, fun way to cool off on a summer afternoon or a cute way to end a date night.  Grab a cone and take a stroll along Via Rodeo - it will give you the low budge feeling of eating gelato while ambling along the piazzas of Rome. There is a fountain that lies at the bottom of the steps of Via Rodeo and Wilshire that I have deemed the magical wishing fountain. Whenever I have had stressful times, I’ll throw a dime in (doesn’t that give you ten wishes - a quarter would be just plain greedy) and things seem to always work out for the best! Give it a shot - you may not need this guide the day after!

2. Pizza Specials at Mulberry Street Pizza- I am starting to think that food really is a source of entertainment for me as everything that pops into my mind is food related. Mulberry Street Pizza is the best in all of LA in my humble opinion with 2 locations in Beverly Hills (North Canon and South Beverly) as well as one in the Valley (Encino). Most times during the week, Mulberry is on the pricier side as compared to Domino’s or Pizza Hut, but it is so worth the few extra dollars. However, on Monday and Tuesdays they have a special that includes two slices, a side salad, and a drink for $8.50. What’s fun about dropping into the parlor is that they have daily copies of the New York Post just sitting at each spot on the counter for diners to read while they devour the huge slices.

3.  Paradise Cove Malibu - Paradise Cove is the perfect way to spend a warm summer day. Located in the northern part of Malibu off PCH, past the Ralph’s shopping center adjacent to the Colony and just past Geoffrey’s (there is a huge sign that says Paradise Cove), it’s about a 30 minute drive from the Westside without traffic. What’s awesome about Paradise Cove is that they have beds and loungers on the beach that you can rent for about $10 for the day. Before Memorial Day they are free to use. The key is to get there very early to reserve your spot. Another cool thing about Paradise Cove is that not only can you order food and cocktails from the restaurant while you lounge on the beds, you can also go into this little convenient store they have right on the sand to buy $10 bottles of cheap champagne or whatever your poison is. If you are really trying to save some cash, have the girls in the group carry big beach totes and load them with booze you brought from home. My friend Y was able to smuggle in 4 bottles of champagne (don’t ask me where she put them as her tote wasn’t THAT large), but we managed to have a virtually free day of fun in the sun!

4. The Hollywood Forever Cemetery Movies - I have to say that this is not so much of a hot tip as it was a few years back. Once something cool gets discovered in LA, it can become a major mission to attend such as the case with this. The cemetery movies take place at the legendary Hollywood Forever Cemetery (I think Marilyn Monroe is buried here, but I’m not a 100% on this). It may sound creepy, but they have tiki torches all over the place and the movie is shown in a big open grassy field on the back of a large building wall. The movies run the gamete from old horror films, to classic love stories, to 80’s camp and everything in between.  Back when it was still fairly underground, it was about $10 for an entire car, you got there an hour or so before the movie started to chill on the lawn and enjoy a Trader Joe’s picnic while listening to a DJ spin ambient/trip hop music. Things have changed since then. The traffic can be grid lock if trying to park within the cemetery and you need to arrive about 3 hours before the film starts to even stand a chance of getting in. They now charge by the person, roughly $10 dollar “donations”. Even though it takes a bit of planning and thinking ahead (you can also drink while in line), it’s still worth doing. Now what once was something my friends and I would attend a few times throughout the summer months has boiled down to one time per year. I still love it and if you haven’t experienced it, I highly recommend it! Check out the calendar here - the next showing is “Midnight Cowboy” on the 26th at 9pm.

5. Happy Hour at Oliver Followed By Happy Hour at Fiesta Cantina - Oliver, located adjacent to The Sports Club/LA Beverly Hills has one of the best happy hours in town. During the month of June, from 5pm to close (10pm) they have $5.00 cocktails, $3.00 beers, and $5.00 appetizers. The environment is chic and mod with a fantastic patio overlooking Wilshire Blvd. I love starting my night here after a work out. You don’t need to be a member of the gym to enjoy the restaurant. The extended happy hour special is for this month only and the traditional hours are from 5pm-7pm. Once happy hour ends at Oliver, you can throw yourself into a can (typo staying but meant cab) and head to boy’s down for two for ones at Fiesta Cantina. This is gay happy hour at it’s finest (meaning everyone is wasted by 8pm). If the chicken satay didn’t sustain you at Oliver, you’ll be buzzed enough at this point to order the cheddar fries and chicken quesadillas. It’s a fun, non pretentious atmosphere, with inexpensive well drinks even post happy hour.

I hope these suggestions add some affordable enjoyment to your summer. From having an ice cream cone to becoming a hot mess post happy hour, there is plenty to do and this is just the tip of the iceberg! Go for a hike on Runyan Canyon to check out the hot eye candy of both sexes, take  a bike ride from Venice to Malibu on the flat bike paths that line the sand, or simply lay out naked on your patio to give your neighbors a thrill. The possibilities are endless :)

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New Construction Alert - Harper West Hollywood - Location Meets Quirk

exterior1As many of my readers know, the one area of the market that seems to be continually taking a hit are large new construction projects. In many of my posts, I’ve discussed the conundrum that developers are facing in today’s economy which is this: these projects were started at a time when the market conditions were hot (but beginning to cool) and are now being launched when it is very much a value centric buyer’s market. Developers are not unlike many private sellers in the sense that they too have an emotional attachment to their properties. They have put in tremendous amounts of time, energy, and money to see their projects succeed. Unfortunately, they are selling at a time when they are taking either a tremendous loss or are barely breaking even. Either way, it’s not the scenario they envisioned when they broke ground a few years back. There are a few new projects on the horizon that are nearing completion that I am aware of, but I think we will begin to see a cessation on new home sales in the near future. It just doesn’t make sense to begin a project in this current market and we are reaching over saturation in my humble opinion.

With that said, 1250 Harper has just launched within the last couple of weeks. What this development has going for it is a fantastic, central West Hollywood location and it does seem that the developer’s are not starting out with pie in the sky pricing (which many projects that shall remain nameless did and those who read my blog know the consequences of such strategies). The exterior is sleek and modern with an intriguing twist. Half the project is brand new wood, chrome, and steel married with a section that is old LA Spanish that has been internally updated while the structure remains original. As I understand it, the latter portion is being sold through the City of West Hollywood as part of their affordable housing program. I will be interested to see how this is received by potential buyers.

The units themselves are quirky and beg the question - what’s so wrong with walls? It seems like so many of these “architectural” projects in WeHo all follow the same template which is an open, multi level, lofty floor plan. The developments that seem to be selling or have sold out tend to have some sort of delineation between bedrooms (whether it be a more traditional floorplan like 928 Croft or separate floors for each bedroom like The Habitat buildings) and the common areas. What’s very peculiar about these residences is that the master bedroom is literally wall less right off the foyer or the other option is a totally open second floor master with an external glass door leading out to the walk way from the elevator to the other units. As pleasant as it is to wish your neighbors a top of the morning, I’m not sure you’d like to do it topless from your master suite.  A client, fellow agent, and myself all left scratching our heads. Does one enter the master to get to their unit if it’s closest to the elevator? Is this how guests would enter if they parked in the garage and took the elevator up? Wait, where the hell are we in location to the street - who has the map?

The pricing is sound for the square footage, newness, and location. It will be interesting to see how this resonates with buyers. The kitchens are done nicely and many of the higher end units have explosive views of WeHo/the hills. I have seen many smaller projects take over a year to sell and are now just starting to pop. The amount of units does scare me a bit. As a buyer, ideally it is better to wait until the building is at least 30% occupied with 50% being even better. If a project tanks and becomes rentals, you don’t want to be the buyer left holding the bag.

General Consensus: Pros -  Location, slick exterior, nice materials, good pricing, and a floorplan to will appeal to some. Cons - Floorplans that will not appeal to many, awkward layouts, and a building that is hard to navigate even with a map.

1250 Harper Avenue, West Hollywood, CA - Unit Ranging from 1260-1932 sq ft - Pricing from $554,000-$954,000 - 32 Units - Phase 1 Launch: 15 units

CENTRALLY LOCATED ON A QUIET TREE-LINED STREET IN THE HEART OF WEST HOLLYWOOD, HARPER WESTHOLLYWOOD IS A STUNNING 32 UNIT, CONTEMPORARY 21ST CENTURY ARCHITECTURAL GEM BUILT AROUND THE HISTORIC RAMONA COURT AND REFURBISHED RAMONA UNITS. ONE TO THREE BEDROOM RESIDENCES RANGE IN SIZE FROM 1,260 – 1932 SQ/FT. OFFERING SEVERAL UNIQUE FLOOR PLANS, MANY ON TWO LEVELS. DESIGNED TO FACE S & W. NEW RESIDENCES ARE BRIGHT, OPEN AND SPACIOUS W/ WALLS OF GLASS AND CEILINGS SOARING TO 17 FEET. INTERIOR AMENITIES INCLUDE WIDE PLANK MAPLE HARDWOOD FLOORING, CAESAR STONE COUNTERTOPS, OVERSIZED KITCHEN ISLANDS, KITCHEN AID ARCHITECT SERIES STAINLESS STEEL APPLIANCES FEATURING A BUILT-IN FIVE BURNER GAS COOK TOP AND SEPARATE WALL OVEN AND MICROWAVE, LIVING ROOM FIREPLACES AND OVERSIZED CLOSETS W/ BUILT-IN ORGANIZERS. RESIDENCES ARE PREWIRED FOR CABLE, SATELLITE AND SECURITY. UPPER FLOOR RESIDENCES BOAST COMMANDING CITY LIGHTS & HOLLYWOOD HILLS VIEWS & MOST HAVE PRIVATE OUTDOOR DECKS AND/OR PATIOS. Listed by Eric Fonoimoana  - Independent Broker

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