Does Donald Sterling own lots of RE in the Wilshire District (Beverly Hills: 2014, apartments)

[NJ Brazen_3133]

Does Donald Sterling own lots of RE in the Wilshire District? I am just curious because I hear he said something along the lines of favoring Koreans tenants. Is he the major landlord of that area?

[munchitup]

Originally Posted by NJ Brazen_3133

Does Donald Sterling own lots of RE in the Wilshire District? I am just curious because I hear he said something along the lines of favoring Koreans tenants. Is he the major landlord of that area?

Yes.

[NJ Brazen_3133]

Just a lot of RE or is he the only guy to see about RE in that district?

[disgruntled la native]

The only guy? No of course not. But he is a prominent landlord in LA. Just like the similarly greedy and shady Nagels of Decron.

[SpaceMonkyPunks]

I wonder if, given the controversy, you could get a good deal at one of his buildings right now...lol.

[jm1982]

Originally Posted by SpaceMonkyPunks

I wonder if, given the controversy, you could get a good deal at one of his buildings right now...lol.

I doubt it , but it would be interesting to see if people move out of his buildings based on principal.

It would probably be good for him though because he could probably rerent at a higher rent , especially If they are long term tenants .

Looked up the decron properties , they look pretty expensive ...lots of the buildings like $1600 for a studio..crazy . Maybe they are somewhat newer buildings but it seems high .

[goodbye_hello]

Originally Posted by SpaceMonkyPunks

I wonder if, given the controversy, you could get a good deal at one of his buildings right now...lol.

Nazi boycott of Jewish businesses - Wikipedia, the free encyclopedia

[jm1982]

For those interested in Sterling's holdings , pretty interesting

The Revealing Map of Donald Sterling's 162 LA Properties - Curbed Maps - Curbed LA

You can imagine what these buildings are worth ,especially since a lot of them are in prime areas like Beverly Hills, and they are all pretty large.


It is pretty impressive, it would be interesting to know if he is still buying at these prices. I'm sure he bought most of his properties when properties were much lower of course .

But you can imagine with so many rents coming in and a lot of the properties likely being paid off (no mortgage)

He could be buying new properties all the time if he wanted to.

[disgruntled la native]

Originally Posted by jm1982

I doubt it , but it would be interesting to see if people move out of his buildings based on principal.

It would probably be good for him though because he could probably rerent at a higher rent , especially If they are long term tenants .

Looked up the decron properties , they look pretty expensive ...lots of the buildings like $1600 for a studio..crazy . Maybe they are somewhat newer buildings but it seems high .

Sterling and Decron are both extremely greedy. Billionaires (at least in Sterling's case, Decron probably pretty close) charging yes, 1600 for a studio, to working people barely scraping by. It's sick.

What Sterling and Decron do is get flowery names for their apartments (Court, Villa, Towers, etc.) and have great curb appeal. Fancy signage, great marketing campaign, nice looking lobby. But the actual units are the same as they were in the 1960s.

Sterling is so rich because he screwed over literally tens of thousands of hard working people with high rents.

A lot his tenants initially paid a certain rent, but if this building wasn't rent controlled, he could raise it quite a bit.

[jm1982]

Yeah but I just don't get why someone would pay the $1600 for a studio , when I looked at the Decron site their marketing did look slick..but I guess I don't get why people would rent without shopping around. And the $1600 studios weren't even in Beverly Hills.

I'm thinking perhaps they are targeting people out of the area that are looking for "safe" apartments, and just renting site unseen?