Up and down. (Real Estate).What a difference five blocks makes. Developer Richard Weintraub, facing opposition from both neighbors and the L.A. City Council to proposed changes to a planned luxury condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. at Wilshire and Malcolm in Westwood, has seen things go more swimmingly a few blocks west, where he just sold an 80-unit apartment complex for $22.5 million. 10530-40 Wilshire Boulevard Wilshire Boulevard is one of the principal east-west arterial roads in Los Angeles, California, United States. It was named for H. Gaylord Wilshire (1861-1927), an Ohio native who made and lost fortunes in real estate, farming, and gold mining. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , of which the Malibubased developer is a partner, bought the building for $8 million in 1997 and spent $4.5 million on renovations. It sold for "fairly close" to its asking price of $22.5 million, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Hamid Soroudi, senior managing director at Charles Dunn Co. "It's a totally different property than when he bought it," said Soroudi, who represented both the seller and the buyer, an affiliate of the Roberts Co. on the deal. Roberts owns and manages 48 apartment complexes throughout the Westside. 10530-40 Wilshire Blvd. is its 11th property in Westwood, but the first along the Wilshire Corridor. Rents in the building, which was built in the 1950s, range from $1,250 for a single up to $2,700 for a two-bedroom. That project off his plate, Weintraub is dealing with expanding the scope of the development site. It is entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: for one nine- and one 14-story building at Wilshire and Malcolm, and he's seeking approval to expand it to 30-plus stories. The next step is an appearance before West Area Planning Commission Noun 1. planning commission - a commission delegated to propose plans for future activities and developments commission, committee - a special group delegated to consider some matter; "a committee is a group that keeps minutes and loses hours" - Milton Berle July 17. Staff reporter Danny King can be reached at (323) 549-5225 ext. 230, or at dking@labusinessjournal.com. |
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