Secluded 1920s retreat in Rustic Canyon seeks $2M

By Bianca Barragan

This 1924 dwelling, surrounded by trees and fronted by a bridge over Rustic Canyon Creek, doesn’t just look and feel like an artist’s retreat. It actually was one.

In the 1940s, author Christopher Isherwood reportedly took up residence at the two-story home. Isherwood lived in a number of locations in Rustic Canyon and nearby Santa Monica before his death in 1986, and his writing about the canyon featured in the novel A Single Man, which was adapted into a movie.

As the listing notes, the residence is a peaceful hideaway with “easy access to coveted outdoor areas” and “provid[es] the feeling of privacy and remoteness.”

The first floor holds a family room and kitchen ringed in French doors that open out onto a wall of trees, including an old sycamore. The two bedrooms can be found upstairs, where there is also a balcony and a lone bathroom. Other features include hardwood floors, wood beams, and multiple French doors.

To read the full article visit their website here.

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Deasy Penner to buy out Podley Properties

 

By Gregory Cornfield

The wave of consolidation involving California residential brokerages is showing no sign of abating.

In the latest combination, L.A.-based brokerage firm Deasy Penner said it will buy Pasadena-based Podley Properties to expand its presence in Southern California. The deal will create a network of almost 300 salespeople from Malibu to Palm Springs, and an estimated annual sales of more than $1.6 billion, the firms announced Monday.

The acquisition follows the blockbuster deal in August in which New York-based Compass acquired Pacific Union International Realty, one of the largest brokerages on the West Coast, with $14 billion in sales last year.

Deasy Penner has about 100 partners working at its five offices in Pasadena, Venice, Silver Lake, West Hollywood, and Santa Monica. Mike Deasy, the brokerage’s CEO and Co-Managing Director, touted the “positive cultural alignment” between the two firms.

“We have been looking for both the right westside and eastside acquisitions for a while,” Deasy said in a statement.

To read the full article visit their website here.

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An Architectural View of The Hobbit’s House

Photography by Justin Juarez

Located in the heart of Culver City, the Lawrence and Martha Joseph Residence Apartments, more playfully known as Hobbit’s House, is a fanciful site nestled between studio lots and busy thoroughfares. Built as a labor of love by former Disney Studios artist, Lawrence Joseph between 1946 and 1970; Hobbit’s House looks as if torn from the pages of a fairytale. The nautical elements inside the apartments are a nod to Joseph’s accomplished sailing skills, and the handmade original furniture show off his excellent carpentry. Any fantasy fan would instantly be transported to Middle Earth, where the cottages take their name and inspiration from. And any discerning architectural fan would be charmed by the old world whimsy of these Storybook style apartments. Hobbit’s House is a gem of the Los Angeles architectural landscape and is a registered historical landmark.

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Pasadena’s Podley Properties Bought by deasy/penner

By Brian Day with David Cross

The local real estate industry is undergoing a remodel with the purchase of Pasadena-based Podley Properties by another local firm, deasy/penner.

Podley Properties owner and founder Bill Podley said while he’s enjoyed building his company, the time has come to hand over the reins.

“I’m in a point in my life where I’ll be 70 before too long and it just seemed to be the right time to pull back,” he said. “I will continue to list and sell property and represent clients, because I love that part of it, but I felt it was time for me to pass the baton on to someone that wanted to see the company continue on and grow.”

Deasy/penner is that someone, Podley said.

To read the full article visit their website here.

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Deasy/Penner’s Mike Deasy Ranked As One of Hollywood’s Top 30 Real Estate Agents

By Peter Kiefer

THR’s annual report on the pros making the biggest sales, including L.A.’s first-ever 10-figure listing.

You hear it in their voices, in the measured words that THR’s top real estate agents use to describe the shift in L.A.’s gravity-defying market. It’s not that the party is over, but the lights are being turned on — slowly. The median sales price of an L.A. home was down 5 percent compared to the same period last year, according to an Elliman report. In Bel Air and Holmby Hills, it dipped 10 percent. The luxury market (the top 10 percent) hasn’t seen a turndown — it was up 5 percent in that same period — but growth has slowed thanks to factors from rising interest rates to President Donald Trump’s tax bill, which limits real estate deductions. “We’ve had a great run-up in values over the past several years but we’re at the top,” says Douglas Elliman’s Ernie Carswell. “It’s time for the buyers to get some of the goodies now.” And these 30 market stars — chosen for their sales volume, headline-making deals and clout with entertainment clients — will be the ones helping Hollywood home-seekers capitalize.

Mike Deasy

“Our niche and specialty is architectural and historic gems. We get just as excited over a $300,000 Harwell Harris home as we do by a $30 million house,” says Deasy, a former urban planner whose 87-agent firm is low-key, familial and eschews flashiness — but still draws clients like Jerry Bruckheimer. Deasy sold the producer’s Brentwood Case Study home for $11.5 million in June.

To read the full article visit their website here.

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