By Sam Catanzaro
1,000 Units of Housing Veterans
The home’s seller is Alex Khadavi, a celebrity dermatologist and developer. Khadavi put the property on the market last year and, as reported by CNBC, he led for Chapter 11 bankruptcy protection two weeks after.Despite amenities including a hydraulic DJ booth, a black marble car showroom and a glass and marble bridge above the foyer, the auction this month failed to meet the $50 million reserve, the lowest price Khadavi would entertain. As reported by CNBC, Khadavi owes tens of millions of dollars to several creditors. He was hoping the auction would produce a sale large enough to cover this debt.
New Master Provide Over
Los Angeles has the largest homeless Veteran population in the country with almost 10 percent of all homeless Veterans across the U.S. located Implementationthere. of Master Plan 2022 for VA Greater Los Angeles Healthcare System includes: enabling the West LA campus to provide supportive housing and a set of resources tailored to the needs of vulnerable Veteran populations and their families. The plan calls for over 1,000 housing units for homeless veterans to be under construction within the next ve years. 220 additional units will also be built within 10 years, and the VA will add 350 more units sometime after that. In addition, the plan allows for interconnecting campus operations in realtime with available off-site resources including VA community-based facilities/services; state, county, city and neighborhood systems; Veteran Service Organizations and non-pro t organizations.VAofcials said last month that there would be more action on the plan following years of delays.The project was created in 2016, and only 55 units have been completed so far –around 8 percent of what was anticipated to be completed so far.
Photo: Sam Catanzaro
By Sam Catanzaro
Plan for VA’s West L.A. Campus Will
As part of the Department of Veterans Affairs’ efforts to end Veteran homelessness, Secretary Denis McDonough last month released Master Plan 2022 detailing plans to aid homeless and other at-risk Veterans and their families at the VA Greater Los Angeles Healthcare System. Master Plan 2022, released April 22, also maps the progress to date at the West LA VA campus.“Progress on Master Plan 2022 continues to be a top VA priority, as is our commitment to eliminate Veteran homelessness across the nation,” McDonough said. “Ready access to health care is critical to meeting the mental and physical health needs of those experiencing homelessness. The West LA campus supports one of the largest, most complex medical centers in the VA system and provides Veterans with access to a full continuum of health care services.”
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“After a spirited auction, the bidding is closed and the high bid is in the hands of the Trustee. With over 80 quali ed showings in the last 60 days, we are con dent market value was delivered,” Roffers said. If the court approves the sale, the nal deal will include a 5 percent auction fee, paid by the buyer. That would bring the total price to just over $48 million, making it the fourth most expensive home ever to sell at market.
Normally, a seller does not need to accept a bid below the reserve price. Khadavi’s property, however, is more complicated because it’s part of bankruptcy proceedings. The highest existing offer on the mansion will be considered by the court. If the court approves the sale, it will move forward, whether Khadavi likes it or not. Khadavi told CNBC that he believes his deal with Concierge Auctions prevented bidding from starting below the $50 million reserve price. He is now attempting to nd an offer that exceeds the top bid. In addition, he tells CNBC that he is considering legal action against Concierge Auctions.
VA Secretary Denis McDonough releases Master Plan 2022
Concierge Auctions had no comment for CNBC on why bids started below the reserve, other than a statement from the company’s president, Chad Roffers.
Photo: Joe Bryant
The seller of an extravagant Bel Air mansion is furious after the property opped at a recent auction, with the highest bid coming in at $42 million under the listing price.
The mansion, located at 777 Sarbonne Road in Bel Air, was auctioned online by Concierge Auctions earlier this month for $87.8 million. The nal bid accepted in the ve-day auction was $46.8 million.
Seller of Bel Air Mansion Furious After Property Flops at Auction Mansion on Sarbonne Road in Bel Air fails to meet $50 million reserve price
The VA’s Of ce of Inspector General has blamed the delays an array of factors, including on land-use problems, environmental impact studies, issues with fundraising. When the plan was rolled out, the VA assumed existing infrastructure on the campus could handle the development’s utility needs. It turned out this wasn’t the case, forcing the VA to secure $110.1 million in federal funds for utility and infrastructure improvements.
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By Dolores Quintana
Not too long after Betty White’s Carmel home at the beach was listed, the late and lamented actor’s second home in Brentwood has also been put up for sale. Her home in Carmel-by-the-Sea did not stay on the market long. The beach estate went on the market in March for $7.95 million and the offer was made final two weeks later. The listing for the estate, located in Brentwood Park, said that the property is on the market for $10.775 million which is $2.825 million more than the original asking price. The beloved TV and film icon, who died at 99 in December, originally bought the home in the 1960s with her husband Alan Luddan, a game show host. The home had been built ten years earlier and was of the Colonial style. The estate is gated and has a stone exterior with bright spots of yellow. The home has a 3,000 square foot interior with five bedrooms and six bathrooms. However, the home is listed as a tear down which means that only exterior photos are available and potential buyers cannot enter the house. The grounds span three quarters of an acre and have gardens filled with flowers with trees lining the back yard area. There is also a well tended lawn and stone patio that surrounds the swimming pool. Land is at a premium in Los Angeles, never more than before in history. The Brentwood area is a particularly pricey area. The area has seen two sales of land over $10 million in the past few months and, in particular, a Bel Air land plot that was sold in March for $25 million.Betty White was a television pioneer and star, who starred in a number of well loved shows like “The Mary Tyler Moore Show” and “The Golden Girls”. She was nicknamed “The First Lady of Television”. She won eight Emmys, three SAG Awards and a Grammy. She became a member of the Television Hall of Fame in 1995 and had a resurgence in popularity after starring in the film Lake Placid.
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Betty White’s Brentwood Home on Market
$10.5 million price tag on property
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Fire Suppression in the Hills Above Brentwood
BRENTWOODNEWSLA.COMBrentwood News8 | May 27 - June 23, 2022
Let’s try a little thought experiment. Anyone who lives in the canyons north of Sunset is rightly concerned about the possibility of fire. This isn’t just “possibility”; every so many years we have a real fire. With climate change, the fires burn faster and hotter. What if we built a state-of-the-art fire station up at the top of the hills, at Mulholland? What if we equipped this fire station with a gigantic water tank, a helicopter (that can carry and drop water) and drones that can zero in on the exact location of fires just after they start?
Let’s complement all this with a text/phone/ Siri/Alexa system that can put out a fire alert message to hillside residents that a fire just started.Sounds pretty cool, doesn’t it? If we really wanted to get fancy, we could run a big hose that started in the ocean off Palisades or Malibu and then run it across the top of Mulholland. This saltwater could be used to fill another gigantic water tank. This water could be used to put out fires if things get that bad. The hose would be accessible to firefighters trying to extinguish fires in the canyons, below. We already use saltwater to fight fires. Gigantic “super scooper” planes capture ocean water off the coast and then dump it on top of the fires. In a time of drought, we could run out of fresh water and saltwater could be our backupSeawatersystem.isn’t considered good for vegetation, so it should be used only as a backup if our freshwater supply is low – a real possibility. But saltwater pouring down on a house on fire – dumped by a helicopter or a workhorse drone -- is certainly an acceptable alternative in an emergency, or if our freshwater supply is exhausted. If this sounds like science fiction, companies are already working on building fire-fighting drones that don’t require humans to fly them. Here’s a link to an article about this: www.popsci.com/technology/firefighting-https:// drones-help-fight-wildfires/ The technology is coming. It’s just a matter of time. And we have as much water as we could ever need, just a few miles to the west. If there’s any place on earth this idea could work, it’s here. A bigger impediment to creating this 21st Century fire station up in the hills above Brentwood will be lack of money and all the studies and red tape that will be required to Photo: LAFD/Rick McClure Firefighting efforts during the 2019 Getty Fire in Brentwood. Brentwood Beat,
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May 27 - June 23, 2022 | 9Brentwood NewsBRENTWOODNEWSLA.COM Congratulations, Class of 2022! American University* Amherst College Barnard College Boston College Boston University Bucknell CaliforniaUniversityPolytechnic - San Luis Obispo California State University - Long Beach Carnegie Mellon University Case Western Reserve University College of the Holy Cross Columbia DartmouthUniversityCollege Duke EugeneEmoryUniversityUniversityLangCollege of Liberal Arts Fordham University* George Washington University* Georgetown University Georgia Institute of Technology Hamilton College Howard University Johns Hopkins University Loyola Marymount University*
Must-Watch ‘Disruptive’ Appliance Experience Store
Filled with immersive demonstrations, live product vignettes and connectivity displays, Howard’s West Los Angeles Experience Center allows customers and trade professionals to explore active kitchens, laundry suites and the latest premium and high-performance appliance brands.With Howard’s pioneered success in Long Beach, the West Los Angeles Experience Center is the 15th store to open under its iconic, 76-year-old brand. For West Los Angeles area customers between June 2-5, Howard’s grand opening is offering special pricing, free basic installation of products and 0% interest financing up to 24 months. Delivery is always free.
“Our new West Hollywood location is situated in an exciting retail and lifestyle corridor of the city and in a mixed-use complex. We invite customers from all walks of life to stop in and familiarize themselves with leading-edge product innovations, room exhibits and thrilling technology, while enjoying unparalleled levels of customer service,” said John Riddle, president and CEO of Howard’s sinceHoward’s2019. merges customer experience with the testing of smart appliances through connectivity and the Internet of Things, the biggest change in the appliance industry over the last 30 years, Riddle said. Howard’s is not your typical large appliance store — it’s one of the oldest employee-owned and operated companies in “HomeCalifornia.improvement and appliance stores lack capabilities for customers to play and test machines while researching and purchasing new home appliances. Our employees are trained to help you discover the latest technologies and redefine that experience. In our live showrooms, you can see how one washer machine handles clothing over another, or which oven cooks pizza better to your liking, and so much more. Our technology is cutting edge and disruptive,” said Riddle. West Hollywood’s experience center applies Howard’s Revolutionary Appliance Retail Experience (RARE) that allows customers to enjoy a comfortable, attractive space, and encourages a straightforward, friction-free experience with as much or as little sales interaction as customers desire.
Since Riddle, a longtime appliance industry expert, joined the board of directors of Howard’s in 2018, he has set out to position Howard’s for growth and expansion through the onset of RARE.
Opens in West Los Angeles, Hosts Grand Opening in June
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“Major appliance purchases are like cars. Often times that salesperson will talk you out of the car you came to the lot to purchase. We’ve observed that same technique in the appliance industry, and we set out to change that with RARE by educating, training and coaching employees to listen and embrace the reason you came to our store,” Riddle said.
Rice
Howard’s West Los Angeles Experience Center opening at 900 La Brea Boulevard
By Susan Payne West Los Angeles is home to the newest state-of-the-art luxury appliance experience center located at 900 N. La Brea Boulevard.
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To facilitate RARE, Howard’s has researched and implemented innovative in-store digital technologies that give customers new and creative ways to make purchasing decisions at its superior brickand-mortar facilities in Southern California.
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“When you look at purchasing decisions, our engagement process is what sets us apart. Since the pandemic, multigenerational families have been nested together, benefited from emerging and disruptive home technologies and now have time to explore and test those luxurious appliances. We’ve seen a lot of retailers are doing a high percentage of online sales — not because they have a good website — because their process of brick and mortar is poorly done. We want our customers to touch, feel, sense and play with those big ticket items,” Riddle said. The opening of the West Los Angeles Experience Center is part of an aggressive and strategic expansion effort to reach California markets not yet served by Howard’s. This year, the company is opening an additional five new experience centers in Huntington Beach, Tustin, Agoura Hills, Murietta and Vista, according to a press release. Current locations are open in Los Angeles, Orange, San Bernardino and Riverside counties. To learn more about Howard’s or search inventory online, visit www.howards.com.
approve such a project. Just because something can be done and it’s a good idea doesn’t mean it will happen right away. Here’s another thought that might expedite all this. The Berggruen Institute wants to build a world-class think tank up near The Getty and The Skirball Center. It will be a little more inland from the 405. Like any new project, The Berggruen Institute is controversial. Many don’t like the idea of any developments up in the hills. It’s hard to recall now, but many opposed The Getty before it finally got approved.Mostof those who don’t like the idea of the Berggruen Institute start by citing the potential increase in fire danger. First of all, I can’t imagine this new facility wouldn’t have the best fire-prevention and suppression systems on the planet. Why would Berggruen build something that might burn down soon enough? Plans I’ve seen indicate everything will be built using fireproof materials. But what if, in order to get its project approved, the Berggruen Institute agreed to build the futuristic fire station I’ve described? Berggruen would work with Brentwood homeowner groups, the Brentwood Community Council, the LAFD and the City Council to work out all the details. If we rolled up our sleeves and got creative, we could do something amazing for Brentwood – and maybe other fire-prone areas that could emulate our model. I think this idea is a win-win. Berggruen gets its location approved; Brentwood residents who live in the hills get much greater fire protection than they haveShouldnow. the Berggruen Institute get shot down, a future developer would have the right to build a bunch of homes in that same location. If every one of those new homes has a backyard grill and a few of these homes are owned by individuals who smoke, that sounds far more dangerous than the Berggruen Institute.Let’sopen our minds, Brentwood. There’s a deal to be had here. The purpose of Berggruen Institute is to study serious problems facing mankind – like global warming. Won’t Brentwood be proud if and when Berggruen comes up with ideas our elected officials actually adopt? I can envision Brentwood one day being as proud of Berggruen as it now is of The Getty and The Skirball Center. If the risk of fire is the real concern here, that’s a problem we can solve.
Brentwood Beat, From page 8 Got News? Got a Photo? Send them to us! Email editor@smmirror.com or give us a call at (310) 310-2637
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It’s easy for many of us to approach life insurance with a “I’ll handle that later” or a “set it and forget it” mentality, and to assume that you have time to sort out the details of adequate coverage down the road. Yet, life insurance can play a key role in protecting your loved ones financially should you pass away unexpectedly. The role protection plays in your financial plan often depends on your life stage. Here are several examples of when you may want to evaluate your life insurance options. Young adults starting their careers When you settle into your first or second job and take on responsibility for your own financial matters, you likely are balancing a myriad of priorities. These may include paying off significant student loan debt or managing the mortgage of a newly-purchased home. In the event of your death, you could leave your loved ones on the hook for covering your financial obligations out-of-pocket. A life insurance policy may help provide the cash flow for your parents, siblings or another trusted beneficiary to manage your affairs without it becoming a potential burden. Newly married couples As you build a life together with your spouse, it’s likely that your individual financial responsibilities will become intermingled, even if you choose to maintain separate bank accounts. If you die prematurely, your spouse could be drastically affected by the loss of your paycheck and added expenses. Life insurance can help protect the financial contributions of each spouse, helping the surviving spouse carry on without major changes in lifestyle. Parents of minors or young adults For many Americans, the need for life insurance becomes top-of-mind following the birth or adoption of a child. If you have or are considering starting a family, now is the time to evaluate your insurance policies, ensuring that you have enough coverage to meet your family’s day-to-day expenses, in addition to future financial goals. You may want to ensure that regular living expenses are covered for your family over a period of years, as well as education costs for children and retirement savings for the surviving spouse. Older adults nearing or in retirement As you accumulate wealth or become an empty-nester, your need for life insurance may decline. Be sure to maintain enough coverage to protect your retirement savings. Once in retirement, the need for a death benefit, which provides annuity or lumpsum payments to the surviving spouse, may become less significant. Certain types of life insurance policies may offer the flexibility to borrow against accumulated cash values to provide cash flow in retirement. Evaluate your coverage against what you anticipate spending in retirement to see if these or other options could help your situation. Those preparing for the transfer of assets
Depending on the size of your estate, taxes may reduce the amount of assets you intend to pass down to heirs after your death. Life insurance could be one way to protect the interests of family members and other beneficiaries. For example, you could purchase a policy with a death benefit that could provide liquidity to offset the impact of any taxes that would be due at your death. This can help survivors avoid being forced to sell assets to meet tax obligations. No matter your life stage or financial situation, it’s important to have insurance in place to provide for your loved ones. Make it a priority to regularly review your coverage and ensure it covers the changing needs of your family. If you would like help assessing your options, talk to an insurance professional and financial advisor familiar with your financial priorities.PhilDecallejon, CFA® is a Financial Advisor with Orchard Financial Group, a private wealth advisory practice of Ameriprise Financial Services, LLC. in Los Angeles, CA. He specializes in fee-based financial planning and asset management strategies and has been in practice for 9 years. To contact him, call 310.582.3500 | orchardfg.com | 12400 Wilshire Blvd, Suite 1210, Los Angeles, CA 90025.Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investmentInvestmentadviser.products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value. Ameriprise Financial Services, LLC. Member FINRA and SIPC. © 2022 Ameriprise Financial, Inc. All rights reserved.File#4206414 (Approved until 03/2024)
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