Commercial Brokers International is a group of experienced commercial agents that have a strong background in analysis and marketing. We believe that our clients' best interests should always be foremost in all of our undertakings.
All tagged Santa Monica
George Pino, CEO of Commercial Brokers International, talks about how multifamily (workforce housing, low-income housing and the LA multifamily market in general) & rental rates can affect the entire commercial real estate industry.
This past January, a new study came out that shocked me. Even more shocking is that many people didn’t seem to register the impact of the study, or just overlooked it. What I’m talking about is the study that compares apartment rent costs across the country. With an average price of $4,799, Santa Monica now has the highest apartment rents in the nation, followed by New York. Even more surprising is that Venice, just to the south of Santa Monica is now rated number 5 in the nation, having the dubious distinction of beating out San Francisco. Other than making apartments look like a good investment for the future, what does this mean for our local economy?