From the country to the city to the beach, The Hollywood Reporter recently spotlighted three of the hottest niche markets in L.A. featuring market insight and expert knowledge from The Agency team, as well as our notable new developments and standout luxury listings.
Calabasas
The first stop on THR’s tour is Calabasas, where Country Ridge, a new equestrian-friendly estate community, offers acres and acres of open space and hacienda-style residences minutes from downtown Calabasas and the Malibu coast.
Craig Knizek, Director of The Agency’s Estates Division, tells THR that the 100-acre development is the antidote to reality-TV-ready compounds that frequent the area, with room to roam on foot or horseback. The estates, which debut this summer, are zoned for horse boarding, with one 11-acre estate featuring a large flat meadow. “It could easily be a world-class equestrian facility,” Knizek tells THR. “Or you could just hold a carnival there.”
Nearby, THR notes how the gated Abercrombie Ranch Estates has proven a draw for Hollywood elite and pro-athletes lured by Calabasas’ serene quality of life. “The draw here is space and proximity to the city,” says The Agency’s David Parnes, who along with James Harris and Emil Hartoonian have listed an 8,800-square-foot, 10-acre estate, 25015 Abercrombie Lane, on the market for $4,745,000.
Downtown L.A.’s Arts District
THR reports parts of Downtown L.A. are poised for a major real estate boom, with the Arts District leading the pack for luxury housing. A changing landscape is part of the draw, including the soon to open Soho House and the recently opened 100,000-square-foot Hause & Wirth art gallery and premier architecture bookstore Hennessey + Ingalls. And as Hana Cha, Managing Director of The Agency Development Group, told THR, the area is only going to become more and more attractive once there’s a critical mass of services and businesses. “You’re seeing higher prices now, but a year from now, when Soho House is open, this is going to be the place to be, and prices are going to go even higher,” Hana adds.
Marina Del Rey
Here’s one we saw coming. Marina del Rey made our list of neighborhoods to watch in our 2015 3rd Quarter Report. Now, THR notes prices are on the rise in the seaside city, where its beachfront residents enjoy more privacy and seclusion due to the lack of parking and a bike path to their doorstep. As The Agency’s Managing Partner, Santiago Arana, points out, beachfront land there is limited. “There are maybe two dozen lots at most at this oceanfront area in Marina del Rey — and of those, only eight or ten are single-single family homes,” Santiago notes. He represents one of those, 4 Privateer Street, a 4,000-square-foot corner home perched right on the sand for $8,495,000.
Read The Hollywood Reporter’s full article online here.
Check out the print edition for an extra sidebar on how high-end buyers are now demanding “show” and “hidden” amenities. One example featured is The Agency’s 1307 Sierra Alta Way off the Sunset Strip, boasting a two-story motorized wine rack, a seven-car expertly lit car gallery and a basement level lounge and bar with an underwater view of the pool.
