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112 acres in Brentwood: Largest estate in decades goes on L.A. market for $70 million

112 acres in Brentwood: Largest estate in decades goes on L.A. market for $70 million

In L.A.'s jam-packed real estate market, an acre is huge. Five acres is a dream. But a hundred-plus acres is historic.
The Robert Taylor Ranch, a massive equestrian estate sprawled in the hills of Brentwood, is hitting the market for $70 million.
At 112 acres, it's the largest residential estate to hit the market in the city of L.A. since at least the 1980s, when the Multiple Listing Service started tracking home sales. For reference, the property single-handedly makes up more than 1% of Brentwood, which spans just over 15 square miles.
There are a handful of larger residential properties around L.A. — including The Mountain, a prized 157-acre undeveloped parcel in Beverly Crest that once listed for $1 billion — but none with homes on them that have officially hit the market.
The ranch has roughly 20,000 square feet of living space spread across four structures. There's a 12,000-square-foot main house with seven bedrooms, a dog spa, art studio and massage room, as well as a guesthouse, barn and workshop.
'It's a once-in-a-lifetime estate,' said Rochelle Maize of Nourmand & Associates, who's handling the listing.
Designed in 1950 by architect Robert Byrd, the ranch was built for oil baron Waite Phillips and later owned by actors Robert Taylor and Barbara Stanwyck, who hosted parties at the residence. In its Old Hollywood heydey, it once featured a secret casino accessed by hidden doors; the casino has since been removed, but the hidden door and hallway, found through a rotating bookcase, remain.
In the '70s, the property was bought and remodeled by Ken Roberts, the concert promoter who turned KROQ-FM into a rock radio giant. Roberts tried selling the ranch a handful of times over the next few decades, asking $45 million for it in 1990, but it was eventually seized by a hedge fund in 2010 after Roberts was unable to repay a $27.5-million loan from New Stream Capital.
The property was auctioned off two years later to Chicago real estate developer Fred Latsko for $12 million and most recently traded hands for $18.7 million in 2015.
Titanic estates have dotted L.A. over the last century, but most have been whittled down by developers subdividing the lots and selling them as separate properties. With so many owners over the years, Maize said it's a surprise that it hasn't been chopped into pieces.
'When it last listed, there were two other offers from people that wanted to subdivide the land,' Maize said. 'But my client wanted to keep it together and update the property while maintaining the original feel, and it's one of the reasons why their offer won.'
During the most recent ownership, a four-year remodel brought new finishes including bronze windows, reclaimed timbers, limestone floors and hand-laid stucco both inside and out.
The property features 14 flat, buildable acres, while the rest of the hillside estate is navigated by hiking trails. It includes eight Assessor's Parcel Numbers (APNs), meaning a buyer could divide it into eight different properties. It would bring an end to the ranch's impressive acreage, but offer plenty of incentive for a developer looking to add housing.
'The potential will be attractive to some,' Maize said. 'But either way, the buyer will be someone that values privacy. The setting here is second to none.'
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Homes Are Becoming More Affordable in These 11 Major Cities
Homes Are Becoming More Affordable in These 11 Major Cities

Newsweek

time2 days ago

  • Newsweek

Homes Are Becoming More Affordable in These 11 Major Cities

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Housing in about a dozen major metro areas is becoming more affordable as a boosted national inventory is being countered by increases in median home prices plus rising mortgage and interest rates. Why It Matters Housing affordability has been a central concern for Americans as home prices and mortgage rates have surged in recent years. Understanding the shifts in housing affordability is crucial for both prospective homeowners and policymakers grappling with the persistent gap between median household income and the cost of homeownership. The nationwide trend remains challenging, with the typical buyer still needing to earn about $25,000 more than the median household to afford a median-priced home, according to Redfin's housing market analysis. A 'for sale' sign sits in front of a single family home on August 1, 2025, in Miami. A 'for sale' sign sits in front of a single family home on August 1, 2025, in To Know New data from real estate and brokerage firm Redfin released August 6 shows some signs of relief for 11 major U.S. metropolitan areas, many of them Sun Belt cities that previously saw rapid price growth during the pandemic. Redfin's analysis of Multiple Listing Service (MLS) data as of June 2025 showed that the annual income required to purchase a median-priced home fell year over year in 11 of the 50 largest U.S. metro areas. The largest drop was in Oakland, California, where the required income declined 4.6 percent to $244,073. Other cities with notable decreases include West Palm Beach, Florida (-3.7 percent); Jacksonville, Florida (-3.5 percent); San Diego (-3.2 percent); and Tampa, Florida (-2.1 percent). Rounding out the list are Atlanta, Phoenix, St. Louis, Orlando, Sacramento, California, and Dallas, each with measurable improvements in affordability over the past year. The trend in these metros was attributed to falling home prices—largely a result of a pandemic-era building surge that increased housing supply. Similar declines were observed in the other highlighted cities. Florida stood out, with four metros—West Palm Beach, Jacksonville, Tampa, and Orlando—making the list, a shift attributed to reduced prices amid higher insurance, HOA costs, and a rise in natural disasters impacting the market. Despite these improvements, affordability gaps persist. The typical U.S. homebuyer still needs to earn $112,131 per year to afford the median-priced home—about $25,000 more than the median household earns. Nationwide, an estimated 39 percent of household income goes to housing, above the 30 percent threshold considered affordable, but slightly down from 40.5 percent a year ago. About 34.6 percent of home listings are considered affordable to the typical household, a minor improvement compared to the previous year. Conversely, some of America's most affordable metros faced increased difficulty, with the income needed to buy rising rapidly. Detroit saw a 9.9 percent increase, though at $57,432, it remains the lowest required income among major metros. Other Rust Belt cities such as Cleveland, Newark, Chicago and Pittsburgh also reported increases, as influxes of buyers drive up prices despite their historic affordability. Fortune reported that Midwestern cities like Detroit and Cleveland still offer median home prices around half the national average, supporting migration from higher-cost coastal regions. High Rates, Little Ingenuity Andrew Lieb, a real estate litigator, told Newsweek via email that the two main issues on home affordability are mortgage rates and insurance costs. 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Part of that is attributed to construction styles, with Ragusa saying homes in Florida "are cookie-cutter standardized" and that building designs lack "uniqueness." "That means if you won't take a low offer on yours, someone else will take the low offer on theirs—and the houses are pretty much the same, especially in those developments," he said. What People Are Saying Katie Shook, a Redfin Premier real estate agent in Phoenix, in a statement: "Buyers are battling affordability and they see a lot of listings sitting on the market, so they're asking for major concessions. We've been in a buyer's market for the past eight months. If your home isn't in 10/10 condition and priced at or below market value, it's going to linger on the market. "A lot of sellers are offering $10,000-$15,000 to cover the buyer's closing costs to seal the deal. Some home features, like a landscaped backyard or pool, aren't getting the return they used to. Buyers are no longer willing to pay a premium for those things." What Happens Next With home prices leveling off or declining in several major metros and inventories projected to rise, industry analysts expect affordability to improve modestly in more markets by the end of 2025. Redfin's data suggests national home prices could fall up to 1 percent by year-end, giving some would-be buyers an opportunity to reenter the market. However, real estate markets remain highly regional.

Coast Guard report: OceanGate Titan implosion was 'preventable'
Coast Guard report: OceanGate Titan implosion was 'preventable'

UPI

time3 days ago

  • UPI

Coast Guard report: OceanGate Titan implosion was 'preventable'

Rear Admiral John W. Mauger of the Coast Guard briefs the media on the search for the Titan submersible in 2023. The Coast Guard released its findings Tuesday, saying the implosion that killed five people was preventable. File photo by C.J. Gunther/EPA Aug. 5 (UPI) -- The implosion of the OceanGate submersible Titan in 2023 was "preventable," because of its inadequate design and "toxic" workplace culture, according to a report released by the U.S. Coast Guard Tuesday. The Titan imploded on June 18, 2023, killing five people. The 335-page report documented the causes of the implosion and listed 17 safety recommendations to strengthen oversight of submersible operations, improve coordination among federal agencies and close gaps in international maritime policy. All five on the submersible were killed in the implosion. They were OceanGate's founder and CEO, Stockton Rush; British billionaire Hamish Harding; French maritime expert Paul-Henri Nargeolet; Pakistani businessman Shahzada Dawood and his 19-year-old son, Suleman Dawood. "The two-year investigation has identified multiple contributing factors that led to this tragedy, providing valuable lessons learned to prevent a future occurrence," said Jason Neubauer, chair of the U.S. Coast Guard Marine Board of Investigation for the Titan. "There is a need for stronger oversight and clear options for operators who are exploring new concepts outside of the existing regulatory framework. I am optimistic the [Report of Investigation's] findings and recommendations will help improve awareness of the risks and the importance of proper oversight while still providing a pathway for innovation." Titan's imploded wreckage was found on the ocean floor about 1,640 feet off the bow of the Titanic. The Coast Guard conducted hearings last year to hear testimony from OceanGate employees and others involved in the dive. OceanGate operations director David Lochridge testified about the business climate at the company and about what he said was Rush's penchant for playing fast and loose with the rules. Lochridge told the panel that the company's goal was to turn a profit, that OceanGate ignored obvious safety issues, and that "very little" science was involved in carrying out the sub's dives. OceanGate's former engineering director, Tony Nissen, testified that he was fired because he refused to approve a planned expedition after the submersible was struck by lightning, which compromised its experimental carbon fiber hull. "Stockton [Rush] would fight for what he wanted and, even if it changed from day to day, he wouldn't give an inch. Most people would eventually back down to Stockton. It was death by a thousand cuts," he testified. The 21-foot Titan submersible lost contact with the crew of the Polar Prince about 1 hour and 45 minutes into its dive on June 18, 2023. Responders scoured the North Atlantic Ocean, near the wreckage of the Titanic passenger liner that sank in 1912, to find the missing vessel before its oxygen ran out. The Coast Guard said in September 2024 that the Titan crew sent a message during the fateful dive that "all is well" just before the deadly implosion. It was the final communication from the Titan before the implosion. Neubauer's listed extensive causes of the disaster and recommendations for future vessels. "The board determined the primary contributing factors were OceanGate's inadequate design, certification, maintenance and inspection process for the Titan," Neubauer said in the press release announcing the report. "Other factors cited in the report include a toxic workplace culture at OceanGate, an inadequate domestic and international regulatory framework for submersible operations and vessels of novel design, and an ineffective whistleblower process under the Seaman's Protection Act. "The board also found OceanGate failed to properly investigate and address known hull anomalies following its 2022 Titanic expedition. Investigators determined the Titan's real-time monitoring system generated data that should have been analyzed and acted on during the 2022 Titanic expedition. However, OceanGate did not take any action related to the data, conduct any preventative maintenance or properly store the Titan during the extended off season before its 2023 Titanic expedition." He went on to list recommendations for further dives, including restrictions on oceanographic research vessels, expanding requirements to all submersibles and requiring Coast Guard documentation for all U.S. submersibles. Neubauer also recommended "adding Coast Guard personnel capacity at Coast Guard Headquarters to support new construction oversight and field inspections involving submersibles and vessels of novel design." Other recommendations include submitting Coast Guard search and rescue plans, safety requirements, whistleblower agreements and investigative protocols. In August 2024, Paul Henry Nargeolet's family filed suit demanding OceanGate to pay $50 million for the explorer's wrongful death. The family's lawsuit filed in a court in Seattle accuses OceanGate CEO Stockton Rush and others of gross negligence and wrongful death.

Titan submersible implosion final report critical of CEO's inadequate oversight
Titan submersible implosion final report critical of CEO's inadequate oversight

Yahoo

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  • Yahoo

Titan submersible implosion final report critical of CEO's inadequate oversight

The U.S. Coast Guard has released its final report on the catastrophic implosion of OceanGate's Titan submersible, which killed five people on a deep-sea voyage to the Titanic wreckage in June 2023, criticizing the company's CEO, Stockton Rush, and singling him out as a major reason for the disaster. The 335-page report, released Tuesday, comes nearly a year after the Coast Guard's Marine Board of Investigation held a two-week hearing into the unprecedented implosion of the experimental vessel. Rush was warned repeatedly about how dangerous his submersible was and not only ignored all the warnings, but threatened anyone who raised concerns, according to the report released Tuesday. Many who spoke up were threatened with lawsuits or termination, it said. "A false sense of safety and security was created by Mr. Rush through his misrepresentation of the TITAN's safety, achieved by falsely claiming substantial safety margins, misleading mission specialists regarding testing procedures, and exaggerating the number of hull test dives for the final TITAN hull," the report says. "This marine casualty and the loss of five lives was preventable," Jason Neubauer, Titan MBI chair, said in a statement about the report's release. "The two-year investigation has identified multiple contributing factors that led to this tragedy, providing valuable lessons learned to prevent a future occurrence. There is a need for stronger oversight and clear options for operators who are exploring new concepts outside of the existing regulatory framework. I am optimistic the ROI's findings and recommendations will help improve awareness of the risks and the importance of proper oversight while still providing a pathway for innovation." The board heard from more than two dozen witnesses during its September 2024 hearing. They included several former employees of OceanGate, whose co-founder, Rush, was among those killed. The main purpose of the hearing was to uncover the facts related to the implosion -- including the submersible's design, operation and safety protocols -- to help determine the cause of the incident and make recommendations to prevent similar casualties. The board also set out to determine if there was any evidence of misconduct, negligence or violations by anyone licensed or certified. The report also singles out OceanGate's "inadequate design, certification, maintenance and inspection process for the Titan," as was often highlighted during the board hearing last year. "OceanGate's toxic safety culture, corporate structure, and operational practices were critically flawed and at the core of these failures were glaring disparities between their written safety protocols and their actual practices," the report says. MORE: Titan implosion: Highlights from the Coast Guard's weekslong hearing Ahead of the report's release, the Coast Guard said in June that its Marine Board of Investigation was in the "final portion of its analysis phase" as part of its over two-year probe, and that the report would come out once the commandant's review was completed. The National Transportation Safety Board is also investigating the implosion and will make its own determination as to the probable cause. That investigation is ongoing. In addition to Rush, those killed in the June 2023 implosion included French explorer and Titanic expert Paul Henri Nargeolet, British businessman Hamish Harding, Pakistani businessman Shahzada Dawood and his 19-year-old son, Suleman. The submersible company suspended all exploration and commercial operations after the deadly implosion. The Coast Guard's hearing last year revealed one of the last messages sent from Titan to the surface vessel Polar Prince as the doomed submersible descended toward the ocean floor. The short text messages were the only means of communication between the Titan crew and the personnel on the Polar Prince as the vessel attempted to reach the Titanic, which sits 3,800 meters below sea level. At approximately 2,274 meters, the Titan sent the message, "All good here," according to an animation created by the Coast Guard that showed the text communications. The last communication from the submersible was sent at approximately 3,341 meters: "Dropped two wts," meaning drop weights, according to the Coast Guard. MORE: 'All good here': Last messages revealed from Titan submersible before implosion: Coast Guard All communications and tracking from the submersible to Polar Prince were lost at 3,346 meters, according to the Coast Guard. U.S. Coast Guard Marine Board of Investigation Chair Jason Neubauer revealed during the hearing that the master of the Polar Prince told them that in hindsight, he believes he felt the ship "shudder" around the time when communications with the sub were lost. The Coast Guard also released footage during the hearing that showed Titan debris, including the tail cone, aft dome, aft ring, hull remnants and carbon fiber debris, on the seafloor. The footage was from a remotely operated vehicle, which located the Titan debris approximately 500 meters from the bow of the Titanic following a four-day search. The Coast Guard heard lengthy testimony from David Lochridge, the former director of marine operations for OceanGate, who had raised concerns about the Titan's carbon fiber hull. "I knew that hull would fail," Lochridge said during the hearing. "It's an absolute mess." He also testified that the company wasn't interested in scientific research and only cared about making money, and that Rush "liked to do things on the cheap." Issues and concerns with the Titan and its transport were revisited in testimony throughout the hearing. MORE: OceanGate whistleblower says he had 'no confidence' in development of Titan sub In 2022, the thruster controls malfunctioned and caused the vessel to spin once it reached the Titanic depth, though the pilot was able to retrain it himself and they completed the dive. In another dive that year, a loud bang was heard as the Titan ascended. The NTSB determined that the hull's strain response changed after this loud bang incident in subsequent dives, an agency official testified. In 2023, the Titan partially sank four weeks before the implosion following a night of high seas and fog, according to the Coast Guard. Days before the implosion, passengers slammed against the vessel during resurfacing when the platform malfunctioned. One former OceanGate employee testified that there were also concerns about having to tow the sub on the open seas when they switched to using the Polar Prince in 2023. The Titan had 70 equipment issues in 2021 that needed correcting, and 48 more in 2022, according to the Coast Guard. The submersible made 13 successful dives to the Titanic wreckage until its fatal implosion. Solve the daily Crossword

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