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Sep1

Kofi Nartey answers ‘Should an NFL Player ever buy a home on Realtor.com

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There are some amazing perks to making it big in the NFL: name recognition, fame, power—and don’t forget that killer $2 million average salary (even if it is the lowest among major pro sports). The league’s next superstars shouldn’t worry that guac is extra. Heck, fly first class all the time! And if the cash is really flowing in, why not pay off mom’s mortgage?

And while you’re at it, why not plunk down some cold, hard cash for your own place, too?  A really sweet one, maybe with a 12-acre lake like “Neon” Deion Sanders’, or a heated indoor-outdoor kennel like Peyton Manning’s, or even a private drive-in movie theater like the one installed by LaDainian Tomlinson.

Time out!

NFL players are renowned for their frequently used, not-so-secret housing playbook: Buy big and buy fast. But history shows this may be a very bad idea.

Rentals might not seem worthy of NFL superstars’ high-flying, Cristal-popping lifestyle, but unless you already are Tom Brady, real estate brokers agree it makes better sense to lease. After all, players move around. A lot. For every Drew Brees, soon to start his 11th season with the New Orleans Saints, there’s a Josh Johnson—who’s bounced among eight franchises in search of an ever-elusive backup quarterback job.

Hopefully, Johnson didn’t buy a house along the way.

Football players in foreclosure might as well be a meme. There’s JaMarcus Russell, who purchased a $2.4 million Oakland mansion after the Raiders picked him first in the 2007 draft. Four years later, the bank foreclosed. Or former Tennessee Titans running backEddie George, whose $1.67 million Brentwood, TN, home was listed for auction in 2012. The list goes on (and on): Adam “Pacman” JonesDameon ReillyDaunte Culpepper.DeAngelo HallJoey Porter. Matters aren’t helped much by the fact that these players often wind up buying high-priced homes in relative real estate backwaters like Buffalo, NY, or Baltimore.

So what do you do if you have a high-paying, high-profile gig that you could get booted from at a moment’s notice?

“Renting is simply better in most instances,” says Aaron Swerdlow, a Los Angeles sports lawyer who counsels coach and player relocations. And more often than not, players now dorent, he says. It’s a savvy decision for surviving the league, where contracts are short and players could be traded or released in a heartbeat.

Buy vs. rent: Let’s go to the videotape!

Even with the ever-present threat of joblessness, players still often insist on buying—and in those cases, Swerdlow breaks down the numbers.

“I would give player clients two statistics, which they never liked to hear,” he says.

Stat No. 1: Most players spend less than three years in the NFL. Bummer.

Stat No. 2: “Approximately 75% of retired NFL players are divorced or bankrupt within five years of their career ending,” he says. Even bigger bummer!

“Sometimes giving out those statistics worked. Sometimes they didn’t,” he adds.

Imminent financial collapse isn’t the only reason players should wait to buy, experts say. Just like us unathletically inclined folks, they should know what a city and its neighborhoods offer before committing to a mortgage.

“Most of them do want to rent so they can get a feel for the lay of the land,” says Kofi Nartey, a Los Angeles broker and director of the Global Sports and Entertainment Division at Compass.

Still, even the most conservative financial advisers concede that not every hotshot NFL player needs to rent. Especially if they really are a hotshot—think franchise players like Tom BradyRichard Sherman, or Aaron Rodgers.

“It’s mostly when they sign contracts of at least three to four years that I start to see players buy,” says Swerdlow.

Long-term contracts create some certainty, meaning—for the most part—players feel safe to lock themselves down in their team’s town.

But in today’s NFL, money isn’t guaranteed unless a player is on a team’s roster. Signing bonuses and long-term deals are nice, but fully guaranteed money is paramount.

“I tell players, ‘Make sure it’s locked in before committing yourself to a large mortgage,’” Nartey says. “But if you’re signing a two-year deal, you should just rent. You don’t know enough about that city to know if you’ll stay there.”

But what about those players with less guaranteed money, but with a burning desire to own their own (plush) piece of the American dream?

The determining factor in whether a big-money real estate investment winds up being a fourth-quarter touchdown or a game-losing fumble is whether or not an NFLer plans on sticking around his playing city—or eventually, moving back—regardless of whether he’s traded or injured. Family-oriented players looking to settle down might fall in love with Green Bay, WI (there’s the Bay Beach Wildlife Sanctuary and the National Railroad Museum). With the off-season lasting half the year, there’s plenty of time to enjoy a new abode, even after a job transfer.

And while a party-hopping bro might not want to lock into a 30-year fixed mortgage in Wisconsin or Buffalo, he’ll surely study up on ARMs in Los Angeles or Miami.

“Is it a city where they’ll spend their off-season as well?” Nartey says. “Even those guys who play for the Baltimore Ravens or the Carolina Panthers generally spend time in L.A., for example. If you’re spending more and more time there, it can make sense to buy in that city.”

Behind the ‘Jock Tax’

Florida is another special case. Athletes love Florida—and not just because they’re really into fresh oranges and Miami’s club scene (but certainly partly because of those things). The real reason: The Sunshine State is lax on tax. Several states subject players to a “jock tax,” meaning they owe money if they play a single game in the state. But not Florida.

“If Tom Brady comes to California to play the Rams, he’s charged 13.3% of what the Patriots pay him for that game,” Swerdlow says.

Even the Tax Foundation finds this fee a little unfair. It states, “the tax hits many people who may not be able to easily absorb the substantial compliance costs associated with the tax.”

But in the short term, the rule won’t go away, making an NFL player’s tax bill excessively onerous. That’s why Swerdlow encourages professional athletes to invest in a state without state income tax—like Florida or Texas.

“Players might be attracted to purchasing a home by the mortgage payment deductions. When it starts to make fiscal sense to purchase, oftentimes they choose a state where there isn’t an income tax,” Swedlow says. “That’s one of the primary reasons why a lot of players live in Florida.”

But even in utopian Florida, the taxman—or the bank—cometh, and he also taketh away. From Chad “Ochocinco” Johnson. From Jevon Kearse. From Clinton Portis. And so we’re back to the line of scrimmage.

Maybe it’s just better to rent. Even for a baller.

Aug22

KOFI NARTEY ANSWERS THE 7 SECRETS OF CELEBRITY REAL ESTATE WITH ZILLOW

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Stars’ house-hunting expeditions look quite a bit different from everyone else’s. Never mind what the celebrity magazines say: When it comes to home listings, the stars are not just like us. Agents who represent celebs on either side of a real estate transaction must tread carefully.

“The last thing you want is your neighbor taking a selfie with your Academy Award,” said Kofi Nartey, who recently launched Compass’ global sports and entertainment division.

1. No cell phones allowed

Nartey and other agents frequently prohibit cell phones inside properties listed by stars. Allowing them is not worth the trouble, and people who are truly interested in buying the home — sometimes celebrities themselves — tend to understand.

2. Discretion is key

Because paparazzi and gossip mongers are constantly lurking, it’s important to be discrete about all sorts of things — including what exactly a celebrity client is looking for in a home. Take the star Nartey represented who was deciding whether to buy homes “based on how many people could fit in the shower.”

That was a tricky expedition. “Sometimes you can tell from photos; sometimes you preview it,” Nartey explains. “Sometimes you call the listing agent and say, ‘This is going to sound odd, but how many people can fit in the shower?’”

3. Tell a story

Celebrities who agree to publicity for their multi-million dollar listings often have more control over the message, and an agent can have a lot of fun with those stories both in the media and in presenting homes to potential buyers.

Michael JordanWhen Nartey was marketing the Michael Jordan estate outside Chicago, which is listed for $14.855 million, “we were able to talk about the breakfast club, which was a group of his teammates who got together for breakfast and to train at his house.”

Even former homes of everyone from Cher toGroucho Marx can gain publicity points for the lingering stardust.

4. Some stars are shy

Fame brings more eyeballs to a property, and sometimes more money. But it can cut both ways: Stars who value privacy must take extraordinary steps to hide their ties to a home.

That can start when the home is bought, by using a trust name and address that’s not traceable to the real owner. Still, photographers and fans have a way of ferreting out celebrities’ homes — one reason that, by the time they sell, they’re ready to leverage their celebrity.

Even then, the going can be rough.

One star had people trying to climb over his fence as soon as news of his listing hit, said Sally Forster Jones of the John Aaroe Group. She has brokered her share of celebrity real estate transactions, including for Mariel Hemingway, Candy Spelling and baseball player Coco Crisp.

5. Other celebs are just weird

It helps when celebrity sellers move to another home so prospective buyers can drop by without invading their privacy. But some insist on staying.

Christophe Choo of Coldwell Banker Previews International in Beverly Hills had one client who hung out in her bedroom during showings and hid behind a screen while potential buyers were in the room.

“I can’t tell you how private some of these clients are,” he said.

6. Watch out for looky loos

People used to dropping by open houses just to snoop can forget about that with celebrity homes — or almost any luxury listing.

Agents are good at sussing out whether you have the dough to buy a place, and whether you’re genuinely interested. There’s the Internet, the polite-but-probing telephone interview, and the network of other agents. Some agents require people to come with their own real estate agents.

“We vet who the buyer is, so they’re not going to see a home just because of the star appeal,” said Forster Jones.

On occasions when an open house is permitted for a select group of brokers, there will often be security guards in bedrooms and even in large closets, Choo said. “There can be maybe 10 people manning a private open house.”

7. Keep the entourage happy

Control is a big deal for many high-end clients, whether they’re used to the limelight or the board room.

“A well-paid billionaire or businessman likes to be in control of situations,” Choo said. Even celebrities who are not control freaks can have PR managers, lawyers and others who are, he said, adding that he can’t mention the names of famous clients whose homes he’s sold.

Aug12

How Broker Kofi Nartey Is Helping House the Rams in LA

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Kofi Nartey is not your average real estate broker. Heading up the newly-created Compass Global Sports & Entertainment Division, his past experience as a former athlete and actor gives him a certain edge and knowledge that most real estate brokers might not have.

With over 13 years of industry-leading experience, he’s worked with high profile clients such as Kevin Durant, Iggy Azalea, and Michael Jordan. Now that the LA Rams are back and kicking off with a pre-season game on August 13 against the Dallas Cowboys, we sat down to discuss how Nartey is helping the team relocate, how he gets his game face on before meeting a client, and the hottest neighborhoods in LA right now.

Did your past experience as a former athlete and actor help in dealing with high-profile clients? KOFI NARTEY: It definitely gives me an advantage because I’ve been in similar spaces. When I transitioned into real estate, it did a couple of things for me. Most of the athletes I meet, there’s always someone that we know in common. And the same thing [goes] with the entertainment space. The degree of separation is drastically reduced, and the understanding and appreciation of the lifestyle are increased because of that.

How do you get your “game” face on before you meet with a client? KN: (laughs) Well, my game face is very similar. I’m writing a book called Sellebrity, and it’s about breaking into and servicing the sports and entertainment industry. In that book, I have two chapters: Things That I’ve Learned From Sports and Things That I’ve Learned From Acting. In terms of getting my game face on it’s because I’ve practiced what I said. Actors review their lines, know their script, know the people that they’re going to deliver the lines to, and how that effects what you’re going to say. It’s knowing what I’m doing, understanding it, knowing it well, and feeling confident about it.

Did you help relocate any of the LA Rams this year? KN: We’re still working with some of them now. We have a full team that helps with everything beyond real estate itself. My immediate team focuses on finding the properties, whether it’s a purchase or a lease. Then we have our sole concierge arm, which helps with movers, car transport, getting enrolled in schools, finding a nanny, finding a cleaning service, all of the above.

With the Rams coming to LA, what’s the energy been like? KN: Personally, it’s been exciting. I had the good fortune of having met Stan Kroenke, the owner of the Rams, and Jeff Fisher, head coach of the Rams. That’s what I talked about with them—it wasn’t about business, it was about the excitement of having football back in LA and what that means for those Sunday outings with the family, watching the game, the energy of the crowd, and so forth.

What are the hot neighborhoods in LA right now? KN: LA has so many pockets. The Hollywood Hills continue to remain in demand. Things are picking up in Calabasas and Thousand Oaks because of the Rams coming into town and looking for property out in those areas. We see growth in the Silicon Beach area and Venice continues to stay hot. And even as you go east to Silverlake and Los Feliz, [things] have been heating up.

Aug1

Congratulations and Good Luck to our Client Jose Calderon in the 2016 Rio Olympics

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Lakers point guards Jose Calderon and Marcelo Huertas will be the team’s only representatives at the 2016 Olympics in Rio

Eyes were transfixed on Las Vegas just a few weeks ago to watch three young Los Angeles Lakers players in D’Angelo Russell, Brandon Ingram, and Julius Randle practice with USA Basketball as part of the USA Select Team. Obviously the experience alone was great for the young players, but it was also wonderful to hear how complimentary some of the great coaches and players in the league were about the trio.

However, none of those players will be traveling to Rio for the 2016 Olympics to play with USA Basketball throughout August. Especially with Kobe Bryant now retired, there are now no representatives for the Lakers on Team USA.

That doesn’t mean that there won’t be Lakers players taking part in the festivities in Rio, though.

Two Lakers point guards will be playing in the Olympics as recently acquired veteran Jose Calderon will play for Spain and second-year fan-favorite Marcelo Huertas will wear the colors of the host nation of Brazil.

Both Calderon and Huertas have been staples for their respective national teams for quite some time now as both guys are in their 30s. Even still, there will be things to look for from both players as they take the international stage.

On the part of Calderon, the Lakers can be watching to see just what he has left in the tank. Last year with the New York Knicks, Calderon’s performance was troublesome to say the least to the point that he was virtually nixed from the rotation. However, the Olympics will give him the opportunity to show he’s got something left in the tank.

For Huertas, what will be interesting to watch for is what his one-year in the NBA and with the Lakers taught him and how he applies it to playing with Brazil. Though deficient in some areas, there’s no denying that he showed growth as a rookie and it’ll be interesting to see how he applies it to his game.

Hopefully there will be more Lakers involved overall come the 2020 Olympics, especially with Team USA (and with Croatia for Ivica Zubac), but it’s nice to at least have some piece of the pie with international ball taking over the summer.

Jul8

Q&A With Sam Gorodistian Of G&D Realty Group

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Over the past few years, Silicon Beach has emerged as one of the largest tech hubs in the world with companies like Snapchat, Google and YouTube setting up shop along the sun-filled coast. With a surge in growth to the region, it’s no surprise that developers have taken interest in the community and surrounding areas, and 5940 W. 77th Place is one of the neighborhood’s newest additions. The contemporary estate was developed by two brothers from G&D Realty Group and sits in the Westchester neighborhood adjacent to Silicon Beach.

The Agency sat down with Sam Gorodistian to discuss inspiration behind the dwelling’s impressive design that the brother duo claim to be a home built with “no excuses.”

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What inspired the design of your project on 77th?

On my side I always view design as if I’m a buyer going to see a house hoping that I will not have even one bad remark about it. For this project I made sure to balance the rooms in size and took in account the flow of the rooms. I love the open space and the indoor-outdoor feel, which I experimented with on my own home after remodeling it in 2013. I also kept in mind general trends of what’s selling in the current market and what the public likes. My brother’s contribution to the design comes from his experience in the construction industry and remodeling homes on the East Coast, where he insists on 10-foot ceilings and tall windows.

Did the explosion of activity in the Silicon Beach area motivate your decision to build there?

It was a combination of that and the fact that the prices were still low in that area, but on the rise; the close proximity to the beach and LAX; and the big lots for a backyard.

When designing the home on 77th, what elements and finishes did you use to complement the contemporary design?

The contemporary design was about simplicity and clean lines, colors and the materials we used. On the design side we incorporated clean, straight lines throughout the house.  For colors we went with two paint colors in the house: white and gray. We incorporated black with silver stainless steel appliances and plumbing fixtures. The counters are a more earthy, natural color. For materials we used a modern look on plumbing fixtures, appliances, frameless shower doors and stair railings, and recessed lights.

What’s your vision for L.A.’s architectural blueprint look like ten years from now?

I think I already see it out there when I’m driving in the streets of Venice, Santa Monica, Westchester and other cities in L.A. Old homes are transitioning to a more modern look and old, industrial buildings are stripped from their traditional elements and using more simple, green and contemporary materials and design.

Do you have any goals as developers that you both hope to achieve in the next five years?

We would like to be landlords of a few multi-family assets either by acquiring multi-family fixer-uppers or developing new buildings from the ground up.

Jul8

Compass Launches Global Sports & Entertainment Division – BH Courier

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Compass has announced that the technology-driven real estate firm will be delivering the winning punch to sports and entertainment professionals through its newly formed Compass Global Sports & Entertainment Division, headed by Kofi Nartey out of the Beverly Hills office.

“Owning a professional basketball team gave me unique insights into their career-driven lifestyles,” said Compass Founder and Executive Chairman Ori Allon, who owns Israel’s Hapoel Jerusalem basketball team with NBA star Amare Stoudemire. “They may wake up one day in one city, only to learn they need to quickly move to another city with their entire family. A well-informed agent can be a huge time and energy saver so they can focus on being their best.”

Nartey, former manager of the Sports & Entertainment division at The Agency, boasts numerous high-profile clients, including Michael Jordan.

He appears regularly on HGTV’s Selling LA and he is the author of the upcoming book, Sellebrity: Breaking Into And Servicing The Sports & Entertainment Niche.

Compass, which opened in 2013, already has offices in Washington, D.C., Miami, Boston, the Hamptons, Los Angeles and Aspen, boasting a streamlined technology that empowers the consumer and the agent in facilitating faster and smarter transactions.

Jul8

Compass Launches Sports and Entertainment Real Estate Division with Kofi Nartey

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Luxury tech-driven real estate platform Compass will launch an international sports and entertainment division, the company announced today. Compass Global Sports & Entertainment Division will focus on the specialized needs of professional athletes and entertainers in an increasingly connected global market through a custom high-tech and high-touch approach.

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The division was inspired in part by Compass Founder and Executive Chairman Ori Allon, who owns Israel’s Hapoel Jerusalem basketball team alongside NBA star Amare Stoudemire. “Owning a professional basketball team and working closely with the players gave me unique insights into their career-driven lifestyles. They may wake up one day in one city, only to learn they need to quickly move to another city with their entire family,” said Allon. “A well-informed agent who really understands their situation can be a huge time and energy saver for them – so they can focus on being their best.”

Top agent Kofi Nartey has been tapped by Compass to play an integral role in creating the first true national network of offices and agents to assist this clientele. As the former Managing Director of the Sports & Entertainment division at The Agency, Kofi brings more than 13 years of industry-leading experience to the company, having worked with numerous high-profile clients including Kevin Durant, Candace Parker, Iggy Azalea, Derek Fisher, and Michael Jordan. Kofi says he looks forward to taking the successful model he built at his previous firm, and expanding it through Compass’ national platform.

“Compass Global Sports & Entertainment Division will serve a very important niche market that is equal parts real estate and concierge services. Sports stars and entertainers often find themselves having to shift life and career plans in a moment’s notice, and with Kofi’s expertise, Compass is prepared to seamlessly guide them through any stage in their journeys whether in New York, Los Angeles, Miami, Boston, Washington DC, or beyond,” said Robert Reffkin, Compass Founder and CEO.

Although Compass launched just two years ago, the company already has an established presence amongst celebrities and pro-athletes including legendary golfer Greg Norman, who recently listed his $55 million Colorado ranch with Compass broker Steven Shane.

Compass Global Sports & Entertainment Division will be comprised of select Compass agents in key markets across the country. The proprietary Compass Global network offers celebrities, professional athletes, and their agents instantaneous and discreet access to thousands of ultra high net-worth individuals (UHNWIs), developers, and top real estate professionals across six continents. Beyond traditional real estate services, Compass Global Sports & Entertainment Division caters to the ever-changing schedules of pro-athletes and entertainers, and can assist them in finding interior designers, architects, and moving companies, as well as more detailed programs such as personal chefs and private car services.

“I am extremely excited to join the fastest growing luxury real estate firm in the country. Compass’ national reach, cutting-edge technology, and dynamic agents are poised to change the industry. Having the opportunity to help launch the first true national sports and entertainment division was one I could not pass up,” added Kofi. A former football player at the University of California at Berkeley, Kofi has also appeared in several films, and is regularly a featured agent on HGTV’s Selling LA. He is also the author of the upcoming book, “Sellebrity: Breaking into and servicing the Sports & Entertainment Niche.”

Launched in 2013, Compass was founded by Reffkin, a former Chief of Staff to Goldman Sachs’ President & COO, and his business partner Ori Allon, who sold two previous companies to Google and Twitter. The Company began its national expansion last year, opening offices in Washington, D.C., Miami, Boston, the Hamptons, Los Angeles, and Aspen. The company’s proprietary technology brings actionable intelligence and transparency to real estate, empowering both the consumer and the agent to make decisions smarter and faster. Compass continues to create tools within a mobile workspace that saves agents and clients hours of time by reducing reliance on multiple platforms, bringing greater efficiency to the process of finding a home.

Compass has raised $135 million in investor funding, more than any other residential brokerage in the country, from key investors including Institutional Venture Partners, Thrive Capital, Founders Fund, 406 Ventures, Advance Publications, Inc., Kenneth Chenault, CEO of American Express and Marc Benioff, Founder and CEO of Salesforce.com.

**** About Compass:

Compass is a technology-driven real estate platform dedicated to creating a seamless and intelligent home buying, selling, and renting experience. Combining the country’s top agents, proprietary market insights, and integrated mobile and web technologies, Compass is developing the future of real estate decision-making. Compass has locations in New York City, Los Angeles, Santa Barbara, Washington DC, Boston, Miami, the Hamptons, and Aspen, and has raised $135 million in investor capital. For more information on Compass, and to view more than $5 billion in exclusive Compass properties, visit http://www.compass.com

Jul6

Compass launches Global Sports & Entertainment Division – Inman

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Compass announced that it will be adding an international sports and entertainment division called Compass Global Sports & Entertainment Division.

According to the press release, it will  “focus on the specialized needs of professional athletes and entertainers in an increasingly connected global market through a custom high-tech and high-touch approach.”

Select Compass agents in key national markets will comprise the new division.

“The proprietary Compass Global network offers celebrities, professional athletes and their agents instantaneous and discreet access to thousands of ultra high net-worth individuals (UHNWIs), developers and top real estate professionals across six continents.”

Aside from regular real estate services, the division will cater to the “ever-changing schedules of pro-athletes and entertainers and can assist them in finding interior designers, architects and moving companies, as well as more detailed programs such as personal chefs and private car services.”

The division was partially inspired by Compass co-founder and executive chairman Ori Allon, who owns Isreal’s Hapoel Jerusalem basktball team with NBA star Amare Stoudemire.

“Owning a professional basketball team and working closely with the players gave me unique insights into their career-driven lifestyles. They may wake up one day in one city, only to learn they need to quickly move to another city with their entire family,” Allon said in the press release. “A well-informed agent who really understands their situation can be a huge time and energy saver for them — so they can focus on being their best.”

Kofi Nartey will play an integral role in the division, and coming from The Agency, where Nartey managed a similar division with clients including Kevin Durant, Candace Parker, Iggy Azalea, Derek Fisher and Michael Jordan — he seems like a natural, well-equipped choice.

He also has an upcoming book, “Sellebrity: Breaking into and servicing the Sports & Entertainment Niche.” Nartey is a former football player at the University of California at Berkeley. You might also recognize him from several films or his regular appearances on HGTV’s “Selling LA.”

“Compass Global Sports & Entertainment Division will serve a very important niche market that is equal parts real estate and concierge services. Sports stars and entertainers often find themselves having to shift life and career plans in a moment’s notice, and with Kofi’s [Nartey] expertise, Compass is prepared to seamlessly guide them through any stage in their journeys whether in New York, Los Angeles, Miami, Boston, Washington, D.C., or beyond,” Compass co-founder and CEO, Robert Reffkin, said in the press release.

In creating this sports and entertainment division, Compass joins the ranks of Douglas Elliman Real EstateThe Agency and Antigen Realty — to name a few.

Jun6

Kofi’s New Westchester Listing Lands “L.A. Times Home of The Day”

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Home of the Day: Wide open spaces in Westchester

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This open-concept contemporary in Westchester is designed with a crisp modern interior that invites in natural light while affording plenty of wall space for art. Glass pocket doors retract for seamless indoor-outdoor living, connecting a gourmet kitchen and two-story great room to an outdoor teak wood deck.

Address: 5940 W. 77th Place, Westchester, 90045

Price: $2.35 million

Built: 2016

Lot size: 7,800 square feet

House size: 3,524 square feet, 5 bedrooms, 5 bathrooms

Features: Hardwood floors; glass pocket doors; vaulted ceilings; gourmet kitchen; wine fridge; staircase with glass balustrades; sculptural soaking tub; 1,800-square-foot backyard with Brazilian teak wood deck, built-in seating, fire pit, grill and outdoor fridge

About the area: The median sale price for single-family homes in the 90045 ZIP Code in April was $952,000 based on 26 sales, according to CoreLogic. That was a 4.4% increase in median price compared with April 2015.

Agents: Jackie Smith and Kofi Nartey, the Agency

May26

Kofi’s New Manhattan Beach Listing Lands “L.A. Times Home of The Day”

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A Cape Cod charmer in Manhattan Beach

Casual California elegance meets traditional East Coast charm at this two-story, found just blocks from the sand in Manhattan Beach. Designed by architect Louie Tomaro, with landscaping by Scott Martin, the home offers a classic look with front-facing gables, a covered entry and a white picket fence. Inside, sunlit spaces feature a chef’s kitchen and formal living and dining rooms that open onto a patio with saltwater pool.

Address: 1200 10th St., Manhattan Beach, 90266

Price: $4.150 million

Built: 2013

Lot size: 7,467 square feet

House size: 4,600 square feet, 5 bedrooms, 6 bathrooms

Features: Open-space floor plan; recessed lighting; walnut hardwood floors; two-story vaulted entryway; chef’s kitchen Calcutta gold marble island, double Wolf ovens, Sub-Zero fridge and freezer, six-burner stove with griddle; retractable glass pocket doors; upstairs master retreat with sitting area; indoor and outdoor fireplaces, two patios, fire pit; fireplace; saltwater swimming pool and spa; retractable patio awning

About the area: The median sale price for single-family homes in the 90266 ZIP Code in April was $2.4 million, based on 29 sales, according to CoreLogic. That was a 34.8% increase in median price compared with April 2015.

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