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California Real Estate - Top of Their Game
Eighty-two years. That's a lot of experience, and that's the collective number of years possessed by the four top producers participating in C.A.R.'s latest roundtable. Bring all that experience together in one room and, listen up, you're going to learn something.
Click Here to View DocumentCalifornia Real Estate Magazine Article
Click Here to View DocumentSteve featured in Angelo Magazine
Call it parcel envy, a new kind of real-estate rash that’s currently leaving Angeleno’s wealthiest land barons itching for more acreage. Symptoms include an insatiable desire to acquire abutting properties as well as an obsessive fixation with the health (fiscal and otherwise) of their neighbors.
According to Steve Frankel, estates director for Coldwell Banker, Beverly Hills, L.A.’s platinum ‘hoods—Pacific Palisades, Bel Air and Beverly Hills—have seen a sudden rise in this kind of empire-building. “As the wealth of certain people escalates, the thing they want most is privacy and security—and the way to achieve that is to increase the land mass of your property,” says Frankel, who often sees hungry land lovers making deals with neighbors to be able to purchase their homes before they hit the market. Building an empire out of three, four and five parcels can take decades to acquire, but once assembled, the land does more than just pad residents with acreage; it also adds up to serious bucks.
“Oftentimes, when you’re able to build this kind of property, its total value will exceed the sum of its parts,” says Frankel. Case in point: Sotheby’s International’s recent sale of two neighboring properties sold as one, listed at $16.5 million, a new record for the south-of-Sunset flats in Beverly Hills. According to selling agent Richard Klug, it’s a price tag that well exceeds the value of the individual properties combined. Looking to get in on the action? A triple-parcel property, including two on Perugia Way in Bel Air, totaling 4.5 acres, was recently on the market for $32.9 million.
Click Here to View DocumentNewspaper
Hiking into Hollywood's backyard
Homeowners living adjacent to the canyon have their pick of the city’s best shopping and entertainment venues, minutes away, said longtime resident Steve Frankel, a Coldwell Banker Previews International agent. Canyon dwellers, he added, also grab some real estate cachet from the high-priced mansions in adjacent Beverly Ridge ($15 million to $25 million) and Beverly Park ($30 million to $50 million), which overlook the canyon.
View Full Article at the LA Times.com