Eastside Real Estate & Development News
Welcome to a digest of Eastside real estate news, development and people. In this week’s issue:
The new patient tower at East Hollywood’s Presbyterian Hospital is starting to rise. Silent film star Ramon Novarro’s Los Feliz home – designed by Frank Lloyd Wright’s son – is back on the market. And a 67-unit apartment complex in Silver Lake just changed owners – for $20 million.
Real Estate Roundup
A new pocket park behind the Chinatown Library is now under construction, Urbanize reports. The $8.5-million project is located on a steep grade change, which planners are adapting by creating terraced levels connected by stairs and paths.
The Presbyterian Hospital’s new patient tower is starting to take shape along Vermont Avenue, Urbanize reports. The five-story, 175,000-square-foot is slated to house the emergency department with 20 exam rooms, a surgical unit with 20 beds and a new maternity and neonatal intensive care unit that includes 13 delivery rooms.
East Los Angeles
Plans for a new affordable housing development at 4161-4169 Whittier Boulevard are moving ahead, as the Los Angeles County Board of Supervisors secures funding, reports Urbanize $20 million in state bonds that are set to finance the site acquisition and construction. The 3-story building is to have 42 apartments and 1,161 square feet of ground-floor retail space.
First steps are being taken to putting 38 small-lot homes on the site of a Mormon church that was badly damaged in a fire in 2015 and later torn down. A project plan has been filed to demolish parking areas in the 3800 block of Fletcher, where the developer hopes to build the residential development.
A home designed by Lloyd Wright (son of Frank Lloyd Wright) and once owned by Ramon Novarro is back on the market, according to Curbed. The Samuel-Novarro House at 5609 Valley Oak Dr. was originally built in 1928 for Novarro’s business manager Louis Samuel. When Novarro found out Samuel had embezzled his money to pay for the home, the film star took it over. Another film star, Diane Keaton, later restored the property in the 1990s. The home is a 3-bedroom/3-bathroom Mayan Revival, with an asking price of $4.295 million.
A 3-bedroom/2-bathroom mid-century recently sold for $1.3 million, more than $100,000 above the asking price, according to Redfin. That makes it the most expensive home sale of the year — unless a pricier deal closes in the next three weeks. The hilltop home is set on a double lot – with a total of 17,223 square feet of land.
A 67-unit apartment complex recently sold for $20 million, according to Redfin. The apartment community at 1026-1036 Sanborn Ave and 1037 Hyperion Ave consists of four contiguous, 1920s Spanish-style buildings, with 59 single apartments, and eight units with one bed and one bath.
On The Market
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That’s it for this issue of Real Estate Monday. We will be back next Monday.
— Barry Lank & Jesús Sanchez
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