Matt Sweeney

First and foremost, I want to apologize for the lack of posts over the last couple of weeks. I have been extremely busy working with buyers, sellers, and launching my new project, Metropol. It's been all work (which has been awesome) with little time to update my blog. The dust has settled, clients are happy, and Metropol has now had a successful grand opening this week! It's time to get back to business keeping the rich kids of LA updated on what's happening in the real estate world.

I thought my first post should be about a quirky little project that just launched about 2 weeks ago. It had seemed like we had reached our cap on new construction for the most part, but then I was pleasantly surprised to see a new building being launched. Consisting of 12 units ranging from about 1870 sq ft - 2191 sq ft, these town homes are not for anyone with a heart condition, a fear of steep stairways, and a lack of vision as to what to do with "flex" space, as we like to say in real estate. What makes LA such an amazing place is that there is so much diversity and what may be a total deal breaker to one person might be a world of possibility to another.

What confuses me about this project is the way the units are structured. They are laid out on 4 floors, with the guest room being on the top. Bust out the Prada Sport hiking boots because these stairs are no joke. I work out 6 days a week and was out of breath by the time I reached the top of these units. This is vertical living in the truest sense!

With a mixture of concrete and hardwood floors, a small but well equipped kitchen, and luxe bathrooms there are certainly some very nice interior features. The exterior is a little drab, but again architecture is a very subjective thing. Pricing is on the higher side as is all new construction, so I will be keeping my eye on these to see what they ultimately end up selling for.

The one design element I find to be a fatal flaw is the garage entry. Unless you drive a smart car, you are in big trouble. I have never seen such a small garage entry. I drive a compact little convertible and was clenching the steering wheel for fear that my car would scrape the walls. Those of you with Range Rovers and G- Wagons - enter at your own risk and certainly before having a cocktail! Speaking of cocktails, they mention a huge community spa that I must have missed while touring. Jacuzzi with the neighbors...think of the possibilities (especially if they look like the cast of Melrose Place).

1220 North Orange Grove Avenue, West Hollywood, CA 90069 - Twelve, 2 br/2.5ba, Ranging from 1870 sq ft - 2191 sq ft, $819,000-$899,000

THE ORANGE ‘GROOVE' ARTLOFTS CONSIST OF 12 STYLISH LOFT/TOWNHOMES WITH DRAMATIC 2 STORY LIVING ROOMS & FLEXIBLE 4 LEVEL FLOOR PLANS. LOCATED N. OF SANTA MONICA BLVD. AND FEATURING 2 BEDROOMS + OPEN STAIRWAYS TO SUNNY LOFTS + 2.5 BATHROOM, UPSCALE STAINLESS STEEL KITCHEN & TREETOP, MOUNTAIN OR CITY VIEW DECK. PRICE : $815,000 TO $899,000. SIZE: APPROX. 1,872 TO 2,191 SF. 2 BUILDINGS ON A DOUBLE LOT LUSH LANDSCAPING + A HUGE COMMUNITY SPA. Listed by Coldwell Banker Santa Monica

The days are getting shorter, you're pondering how little you can get away with wearing for your Halloween costume, and your starting to think about what your plans are over the holidays. It's also a great time to start pounding the pavement and hitting the Sunday open houses. I haven't posted an open house tour in quite some time, so for those of you who have been following my blog for a while, you may see some repeats on the new construction projects. I think we might have reached our cap for the most part on new WeHo developments, although I know of a couple still in the works. For my newer readers, I like to include the new projects so that everyone knows exactly what is available on the market. Grab your quad shot, sugar free non fat vanilla latte and let's get started! Reminder - open house hours are from 2pm-5pm. PS - Most of the address links go to previous blog posts that I have done that include full reviews of the properties and full pictures. A few don't!

Saturday -A good day to do drive bys (no, I don't mean the kind you used to do in high school where you drove by the person's house you had a crush on or where you were trying to bust your boy(girl)friend at another person's house...I swear I've only heard of such things). Check out:

1) Metropol - 6001 Carlton Way, Hollywood - 41 units in the heart of Hollywood. We are just finishing up a few items on this project, so we will not be open for viewing this weekend, but I think it's a good idea to drive by and check out the building. This is a great opportunity to move into in a new architectural building in an up and coming neighborhood at affordable pricing. Units from the mid 400's - mid 700's.

2) 130 North Swall, Beverly Hills - 1br/1ba, Roughly 980 sq ft- $675,000 - Check out the neighborhood and the exterior of the building (done in 2004). It's definitely one of the best values and nicest condos in Beverly Hills proper. I am available for private showings on Saturday with ample notice.

Sunday - Doing the Circuit - Today is the day to make your rounds and see everything that's out there. It's a great time to be a buyer with a ton of options to choose from! Here's how I would structure my day:

1) The Luminaire - 928 North Croft Ave, LA, CA 90069 - Obviously you are going to start with my open house first. Rich kids readers - here's a major heads up. We have reduced the three ,2 br/2.5 bath units (2053 sq ft - similar to model units) by word of mouth and these prices won't be reflected in the MLS until Sunday afternoon. Here's the new pricing: 101 (model) - was $1,095,000, now $995,000; 201 - was $995,000, now $895,000; 301 - was $1,095,00, now $995,000. We also still have one unit left at $795,000 - 2br/2.5 ba w/ 1661 sq ft. I think these will move pretty fast, so drop by, check them out, and say hi. I've been working on other listings lately, so this is my first open back at Croft in a while - I'm looking forward to seeing my friends that stop by weekly!

2) 1200 North Sweetzer- West Hollwood, CA 90069 - Love it, hate it, say what you want about it, but all of the guys and all of the girls are asking me about this pr-o-ject (a little Britney humor). Units starting from $799,000, 2 br multi level townhomes with a cool architectural aesthetic - definitely worth a look. Listed by Sotheby's International.

3) 1328 Havenhurst Dr #203- West Hollywood, CA 90046 - Resale/Fixer - 1br/1ba, Roughly 742 sq ft - $389,000 - I really love the location of this unit. Havehurst is a charming tree lined street that is wonderfully walkable to the heart of the Sunset Strip. I dug this mid century building that to me is very old school LA. When you walk into the unit, you are going to probably wonder if I was on an illicit substance when I suggested you preview. Be a rich kid with vision - the location is amazing and the bones/layout are good. If you could get this unit in the low 300K range and then vamp it up with about $50,000 you would have a slick pad for under $400,000 in a prime location! Listed by Prudential California Realty

4) Habitat 15- 1322 Detroit St, Los Angeles, CA 90046 - 15, 2br/2ba units from $549,000-$849,000 - This is great alternative to those of you priced out of Croft. This is truly the only new construction in the West Hollywood area at this price point. With a funky cool exterior, voluminous loft like units, and a convenient west of La Brea location, this is must see on your open house tour! Listed by Deasy Penner and Partners

5) 8265 Fountain Ave , West Hollywood, CA 90069 - 2/3brs - $710,000-$1,750,000 - What to say about Fountain? Like everything, there are definitely some strengths and weaknesses to these units. Since I posted in June, there have been price reductions. They dropped unit 202 (least expensive) from $749,000 to $710,000. If you are looking for new construction close to where all the action is, this is one to consider. Listed by Prudential California

6) 1131 Alta Loma Drive #528, West Hollywood, CA 90069 - 1br/1.5ba - $449,000 - NOT OPEN THIS SUNDAY, but I thought I would include this listing located in full service Park Wellington. This is a friend of mine's listing who happens to also be an agent. He has great style and I can only imagine his pad is as chic as he is! Park Wellington has pool, tennis, gym, huge sun deck, lush gardens and is walking distance to Equinox on Sunset. Short sale - Listed by Sotheby's International

7) 450 Doheny Rd, Beverly Hills, CA 90210 - $13,900,000, Roughly 9000 sq ft - Ahhh, time for some exquisite torture. I felt I should end your day and ease you into Sunday night with some real estate porn. I am absolutely in love with this house. When I think dream home in dream location, this is it. I'll let the pictures below speak for themselves! Stop by on your way home to check out this masterpiece! Listed by Hilton and Hylad

Start Slide Show with PicLens Lite

When I am taking a buyer out to look at property, I will always have feedback to offer and am forthcoming to express my opinion to make sure that my client takes an objective approach to the listing as a whole: will it be hard to sell in a few years time, what's the quality of craftsmanship, and the big one, pricing. Obviously, this is done in private after we have left the property or are discussing outside of the building. When an agent takes the time out of their day to meet both myself and my client, I always want to convey how much I appreciate their time and to say something positive about the property they are listing, whether I like it or now. My clients are trained in the same manner - if you don't have anything nice to say in front of the listing agent, just keep it to yourself until we leave the property. This would be the "classy" approach. There is no typo in the title of this post. There is a difference Classy and Klassy. Think Classy with a C to be Natalie Portman, where as Klassy with a K would be someone that is part of any of the Real Housewives of...(pick your city) cast.

I ran into an extra Klassy real estate agent at a showing I was doing the other day. He brought his young client in and was basically just lobbing underhanded insults at my listing right in front of his buyer (which everyone else has absolutely adored) as well as some clients I had walking around. I did some digging and I noticed that he might have had a listing nearby in the past, making him a little salty that he wasn't representing this one. Regardless, I didn't appreciate it and he left a very bad impression with me.

Now obviously, if you are reading my blog, we are probably already working together or you are thinking of working with me in the future, so it's a non issue. I am all about respect. Respecting people's time, their listings, and all the energy it takes to really sell a home. If, by some chance, you have become a recent reader and are already working with an agent, really look to see how (s)he treats other agents. If I received two similar offers from a classy agent and a klassy agent, you know which one I would pick. Keep that in mind if you choose to proceed with them. Side Note: If you are starting to date someone new, always pay attention to how well they treat the wait staff, valet, sales clerk in a store, homeless person asking for spare chance, etc. Everyone deserves to be treated with kindness and respect regardless of their occupation or current station in life. This is my barometer of a person's true character, rich kid or not.

Side Note #2 - Over the last few weeks I have been very involved with launching my stunning new listing in BH as well as my new 41 unit building in Hollywood, Metropol. I haven't had the chance to pound the pavement to look at hot props that are resales for a while - I've been in the new construction world for quite some time as that is what many of my buyers are interested in. Tomorrow I will be out looking at what is on the resale market and what the inventory is like. Stay tuned for best buys of all price ranges...

Have you broken up with your boyfriend/girlfriend? Do you find that that those must have (insert item - Dior shoes, new BMW, Bottega gym bag - you get the point) aren't keeping you warm at night? Or maybe you are simply an animal lover (as most of us are) who has been waiting for the right time to adopt a wonderful companion, but hasn't had the time to investigate the right opportunity. I have the answer for you! It's time to adopt a cat, especially one that is affectionate and is in desperate need of a loving home. In all seriousness, a friend of mind has found a extra special cat in an alley in West Hollywood and has opened her heart/home to really give this super sweet feline a chance at a happy life. If you've ever considered getting a kitty, I implore you to consider making this adoption. I'll let Victoria describe her in her own words (I am having some blog issues, so please excuse the small font below - my system is not cooperating but want to get this out ASAP):

"Could you give a loving home to Kit-e-Kat? She is about ten years old and was found starving on the streets of West Hollywood about a month ago. Now a healthy weight and becoming more lively by the day she is affectionate, totally non destructive and an absolute delight. She has the early stages of kidney disease but do not let that negatively influence you. Although terminal, she will live happily for years to come. Unfortunately my circumstances to do not allow me to give her a permanent home, although I would dearly love to. Please, please consider enriching this little animals life by giving her a loving home as she will make a wonderful companion"

Email me at: matt@richkidsrealestate.com for Victoria's contact info

Since the week after Labor Day is typically a slow one, things have a been a bit more quiet on the real estate front. I am launching a stunning new listing in Beverly Hills this weekend (teaser) and will be blogging all about it just in time for the my first open house coming up this Sunday. In the mean time, lets discuss another important topic, the new Melrose Place last night on the CW. For my rich kids readers who are either do not live in LA or have just moved to the area, Melrose Place is a small area of upscale boutiques (Marc Jacobs, Alexander McQueen, Diane Von Furstenberg to name a few) just east of La Cienega off of, you guessed it, Melrose Ave. There are not really any apartment buildings on Melrose Place proper, BUT (shamless plub alert) my project The Luminaire on Croft (we are close to having put about 50% of the units in escrow) just happens to be a 5 minute walk from this area. If you drive down Melrose, there are literally massive posters on every corner for the new show's premier.

Back to the more pressing issue at hand, did everyone have a chance to watch last night? I have to say it was much better than I had expected. Conniving bi-sexual blond publicists, a murder, prostitution to pay for med school tuition, Ashlee Simpson looking clueless - what can I say, I loved it. I can remember as a kid having 90210/Melrose Place nights (with maybe a dash of Party of Five thrown in for my geekier friends who actually watched that show) and it was always a good time.

I do want to throw a quick real estate lesson in here, just to keep it real. I personally think Beverly Hills is the best area for return on investment in the long run, but if you are more of a WeHo person, the pocket of streets around Melrose Place are some of the best in town if you are in the market for a condo. This pocket includes: Orlando, Croft, Sweetzer, Kings, La Jolla, etc. There is such a high rental demand for this area that once you outgrow your condo, it's the perfect place to rent out for a premium.