Every day, The Real Deal rounds up Los Angeles’ biggest real estate news. We update this page at 9 a.m. and 4 p.m. PT. Please send any tips or deals to tips@therealdeal.com
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Ex-Planning Department head slapped with big fine. Michael LoGrande has been hit with a $281,250 fine for lobbying the L.A. agency he used to lead on behalf of his land-use consulting business, just months after leaving his post. The city Department of Planning reviews real estate development projects, and this is the biggest fine levied against a former city employee. [LAT]
GPI Companies founders Cliff Goldstein and Drew Planting
Opponents want to stop the demolition of a Hollywood music store, but the owner does not. Amid a lawsuit over GPI Companies’ planned demolition of Amoeba Records and construction of a 200-unit tower, the store owner says he wants the project’s opponents to cease and desist. Jim Henderson said the attempt to landmark Amoeba would thwart his ability to relocate. [Curbed]
Ron Galperin and an overview of LA (Credit: iStock)
Los Angeles’ thousands of properties need a better manager. That was the word from city Controller Ron Galperin, who wants a nonprofit entity to develop and operate L.A.’s 7,500 properties scattered throughout the county. Many of them are vacant or underused at a time when the city is facing a housing affordability crisis and rising homelessness. [TRD]
Universal Music Group is expanding in Santa Monica. The music giant is close to leasing another building at the Colorado Campus office complex in Santa Monica. The lease for the 33,140-square-foot “Building B” at the campus is valued at $2.3 million per year, sources said. Lincoln Property Company and Northwood Investors own the recently-renovated, 2-acre office development. [TRD]
There isn’t an industry-wide standard to prevent wire fraud, but these startups are trying. Wire fraud schemes cost the real estate industry $150 million last year, according to an FBI report. Companies like CertifID use various forms of encryption, identity verification and portals to avoid methods of communication that are vulnerable to fraud. [WSJ]
Keller Williams is being accused of stealing tech. TPI Cloud Hosting alleged in a lawsuit that the brokerage skipped paying the bill for their services, and made off with their company prototype. In addition to $1.8 million in payment, the lawsuit seeks damages and describes Keller Williams’ strategy as “steal or copy what you have.” [Inman]
Donald Trump and a Greenland landscape (Credit: Getty Images and iStock)
President Trump is interested in buying Greenland. The permafrost-covered 836,000-square-mile autonomous Danish island is not currently listed. He’s not the first president to try to buy Greenland: Harry Truman tried to buy the territory for $100 million in 1946, but the Danes said no. [TRD]
FROM THE CITY’S RECORDS:
A developer has proposed the demolition of a two-story office building and construction of a 130,000 square foot home goods storage facility at 2215 North Gaffey Street in San Pedro. The applicant is LG Acquisitions.