We're marching on with 2010 awards. First up: The real estate highs and lows of the year...
9900 Wilshire, Bundy Village
Biggest Land Deals: Distressed properties continued to pile up in 2010, with developers unloading land, hotels, and condo buildings. Carlos Slim sold 9900 Wilshire, site of a once-planned (and perhaps still planned) Richard Meier hotel/condo project, while 10000 Santa Monica Boulevard (site of Jean Nouvel's tower) traded hands, and a big downtown parcel—that may rise near the new NFL stadium—is asking upwards of $30 million. (If you wondering whether AEG would purchase this for NFL parking, we're hearing the site really only "pencils out" for condos given the listing price.)
Setting Records for Both Price and Luxury:: Candy Spelling appears to have set a record when she closed on her $35 million Century City penthouse, while Kevin O’Neill, head coach of the USC Trojans basketball team, set a record in September when he purchased a re-sale in the Elleven. Down in the OC, the Portabello Estate, a 22,000 square foot house in Corona del Mar sold for $34.1 Million (plus a $7 million property), the first property we've seen to feature its own mall.
Big Chops, But No Sale: Frank Lloyd Wright's famed Ennis House in Los Feliz hit the market for $15 million in June 2009, and is still sitting there, now listed at $7.495 million.
Bloodiest Battles: In the age of the video, watch what you say: Video of the Playa Vista homeowners railing against City Councilman Bill Rosendahl surfaced, as did a video that captured the friction between Costco executives and homeowners. Also noted: A plan to put a medical plaza looks to be on hold following a well-funded fight between Westsiders/development company Kilroy, and Bundy Village developer Michael Lombardi.
Sue, sue, and sue some more: Is there any Hollywood project that doesn't result in a lawsuit? Emerson College and Target were the latest developments to wind up in litigation, while the 1601 Vine project remains on hold amid questions. And speaking of legal battles: Astani's tenacious refusal to just walk away from his Concerto project after the Starwood/FDIC takeoverprovided some pretty good Photoshop opportunities.