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Insider's Guide to Real Estate in Playa Vista
12/17/2022: L.A. rich are already scheming ways to avoid new 'mansion tax'
This Week's Contents
1. This Week in Playa Vista
2. Superfine Pizza Founders to Open Superfine Playa
3a. Phase 1 - Single Family Homes For Sale: 1 listing (new)
3b. Phase 2 - Single Family Homes For Sale: 1 listing
3c. Phase 1 - Condos/Townhomes For Sale: 10 listings (1 new)
3d. Phase 2 - Condos/Townhomes For Sale: 5 listings
4. This week's avg 30-yr fixed-rate: 6.31%
5. L.A.'s Rich Are Already Scheming Ways to Avoid New 'Mansion Tax'
6. Housing Market May Get Some Relief as Fed Eases Rate Hikes
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
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Superfine Pizza Founders to Open Superfine Playa
By Amanda Peukert, What Now Los Angeles, 12/11/2022
Husband and Wife Steve and Dina Samson — the founders of Downtown LA restaurant Rossoblu and the adjacent casual pizzeria Superfine Pizza — will open a new concept in early 2023.
The incoming California-Italian eatery will be called Superfine Playa and take over the soon-defunct Bull & Butterfly space — 12746 W Jefferson Blvd, Playa Vista, CA 90094 — formerly helmed by Lemonade founders Heidi and Alan Jackson. Bull & Butterfly will remain open until December 18.
The incoming eatery will boast 86 seats inside and 60 outside, opening for dinner and weekend brunch initially before eventually serving weekday lunch.
Read more by Amanda Peukert at: What Now Los Angeles
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A. Phase 1 - Single Family Homes For Sale
Last week: none
This week: 1 listing at $1,995,000 (new!)
Mondrian, 6411 Dawn Creek
$1,995,000 | 3BR, 4BA | 2757 SF
new! MLS #22-217643
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B. Phase 2 - Single Family Homes For Sale
Last week: 1 listing at $2,899,990
This week: no change
Asher, 5825 W Seaglass Circle
$2,899,990 | 4BR, 4BA | 2757 SF
MLS #TR22239015MR
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C. Phase 1 - Condos/Townhomes For Sale
Last week: 9 listings, $1,346,667 avg price
This week: 10 listings, $1,314,900 avg price (1 new!)
Chatelaine #406, 5721 Crescent Park
$1,699,000 | 3BR, 3BA | 2346 SF
MLS #22-223393
Coronado #115, 7100 Playa Vista Drive
$1,279,000 (reduced) | 3BR, 3BA | 1690 SF
MLS #22-216245 - open Sat (12/17) & Sun (12/18)
Coronado #407, 7100 Playa Vista Drive
$1,699,000 (reduced) | 4BR, 4BA | 2108 SF
MLS #22-203807
Esplanade #302, 13080 Pacific Promenade
$1,299,000 | 2BR, 3BA | 1652 SF
MLS #22-223077
The Metro #136, 5625 Crescent Park
$1,250,000 | 2BR, 3BA | 1675 SF
MLS #22-189789
The Metro #320, 5625 Crescent Park
$1,499,000 | 3BR, 3BA | 2180 SF
MLS #SB22243806MR
The Metro #341, 5625 Crescent Park
$1,200,000 (reduced) | 2BR, 3BA | 1670 SF
MLS #22-209695 - open house Sun (12/18)
The Metro #407, 5625 Crescent Park
$1,050,000 | 2BR, 2BA | 1659 SF
new! MLS #22-224853 - open Sat (12/17) & Sun (12/18)
Primera Terra #362, 12920 Runway Road
$1,325,000 | 3BR, 2BA | 1310 SF
MLS #22-215087 - open house Sun (12/18)
Tempo #323, 6020 Seabluff Drive
$849,000 | 2BR, 2BA | 910 SF
MLS #22-223301
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D. Phase 2 - Condos/Townhomes For Sale
Last week: 6 listings, $1,978,000 avg price
This week: 5 listings, $2,103,800 avg price
Camden, 12887 Runway Road #4
$1,849,000 (reduced x2) | 3BR, 3BA | 1875 SF
MLS #22-207590
Camden, 12895 Runway Road #2
$2,200,000 (reduced) | 4BR, 4BA | 2224 SF
MLS #21-100687
Mason, 5848 Suncatcher Place #5
$1,845,000 (reduced) | 3BR, 2BA | 1780 SF
MLS #OC22158583MR
Skylar, 12642 Sandhill Lane #1
$2,345,000 (reduced) | 4BR, 4BA | 2638 SF
MLS #OC22156006MR
Skylar, 12695 Sandhill Lane #2
$2,280,000 | 3BR, 3A | 2026 SF
MLS #22-218334 - open house Sun (12/18)
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This week's avg 30-yr fixed-rate: 6.31%
Mortgage rates continued their downward trajectory this week, as softer inflation data and a modest shift in the Federal Reserve’s monetary policy reverberated through the economy. The good news for the housing market is that recent declines in rates have led to a stabilization in purchase demand. The bad news is that demand remains very weak in the face of affordability hurdles that are still quite high.
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L.A.'s Rich Are Already Scheming Ways to Avoid New 'Mansion Tax'
by Jack Flemming, Los Angeles Times, 12/15/2022
Death and taxes are life’s two certainties — but not if the rich can help it.
Just weeks after Los Angeles voters backed a new measure that puts a one-time transfer tax on property sales above $5 million to generate money for affordable housing and homelessness prevention, the city’s affluent homeowners are exploring potential ways of avoiding the tax.
Known as Measure ULA — for “United to House LA” — the ordinance marketed as a “mansion tax” will impose a 4% tax on property sales above $5 million, rising to 5.5% on sales above $10 million. So a $5-million sale would include a $200,000 tax, and a $10-million sale would include a $550,000 tax, which is typically paid by the seller.
Read more by Jack Flemming at: Los Angeles Times
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Housing Market May Get Some Relief as Fed Eases Rate Hikes
by Zoe Strozewski, Newsweek, 12/14/2022
The Federal Reserve voted to raise interest rates by half a percentage point on Wednesday, a slightly scaled-down increase after several consecutive hikes of .75 percentage points.
The hikes have all been part of an attempt to ease soaring inflation in the U.S., which has become a top issue for Americans. The Bureau of Labor Statistics (BLS) published inflation figures for November on Tuesday showing that the year-over-year inflation rate had dropped down from 7.7 percent in October to 7.1 percent last month, a welcome decrease for the Biden administration that has faced heat over the elevated prices
Read more by Zoe Strozewski: Newsweek
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Statistics - Playa Vista Homes Recently Sold
Condominiums - Sold in October
Avg List Price of homes sold: $1,265,857
Average Sold Price: $1,299,571
Average Sold $/SF: $807.62
No. Homes Sold: 7
Sold Range: $983,000 - $1,850,000
Single Family Homes - Sold in October
List Price of homes sold: $1,895,000
Sold Price: $2,050,000
Sold $/SF: $646.54
No. Homes Sold: 1 source: data compiled from The MLS
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Brought to you by Playa Vista Premiere
The hardest working team in real estate
Dennis Hsii, MBA
CalDRE License #01919746
dennis@playavistapremiere.com
(844) 99-PLAYA
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