In November real estate sales marched on in spite of the national Election & the Thanksgiving holiday, albeit at a slower pace. Measure ULA has clearly been metabolized as reality in LA based on the uptick in sales locally and citywide since its April 1, 2023 passing. Last month there were 2 additional sales over $5MM, 356 S Rossmore at $6.3MM and 165 S McCadden at $5.53MM, which now totals 15 sales YTD in Hancock Park. There were 2 additional sales “under contract at 355 S Rimpau asking $12.495MM and 72 Fremont asking $7.495MM. Most sales however were under $2.5MM and market time increase to 48 days (excluding the handful of private sales).
Of note is the lowest sale at 5157 La Vista near Raliegh and Paramount studios which was an absolute “jewel” box boasting with cathedral ceilings and oozed with style. Think of it as a Larchmont Village condo alternative at $875K for 700 sq ft + a garden on a 1,562 sq ft lot. Expect more sales in December as we are seeing more action now.
Happy Holidays!