"Carolwood Estates' Jonathan Mogharrabi and Marci Kays, who count the actor Brad Pitt among their clients, double ended the sale of Fear of God designer Jerry Lorenzo's Los Feliz home for $8.6 million, or $1,197 per square foot. The deal on the property at 2401 Nottingham Avenue officially closed on Wednesday. It's the priciest deal to close in Los Feliz since June's $13.5 million trade of 4533 Cockerham Drive, which sold for $675 per square foot."
"I think some of the properties are just being priced too high, but more than pricing it's just strategy on how to put these deals together now with the market being more sensitive on the Eastside, he said. Properties priced over $7 million in places such as Los Feliz and Silver Lake require careful strategy. That goes beyond simply factoring in Measure United to House L.A., which Mogharrabi said the market's generally accepted as part of buying and selling real estate in Los Angeles."
Jonathan Mogharrabi and Marci Kays double-ended the sale of Jerry Lorenzo's Los Feliz home at 2401 Nottingham Avenue for $8.6 million, or $1,197 per square foot. The deal closed Wednesday and was the priciest Los Feliz sale since June's $13.5 million at 4533 Cockerham Drive. The agents co-listed with Tyrone McKillen and represented the local family buyer. Lorenzo and his wife Desiree Manuel had paid $8.5 million for the Nottingham Avenue home before listing it after buying 9051 Briarcrest Lane in Beverly Hills Post Office for $19.5 million in 2023. The agents also closed 2720 Glendower Avenue, a 1920s Spanish Colonial, for nearly $7.4 million, with records showing a seller tied to a Sacramento-registered shell company. Mogharrabi called the Eastside high-end market mixed and said pricing and deal strategy are crucial for properties over $7 million; Measure United to House L.A. and a two-tier 4 percent city levy factor into transactions.
Read at therealdeal.com
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