Y
aniv Nehemia, founder of JNY Investments, is a developer who prefers to let his projects speak for themselves. His latest achievement is a six-bedroom, 12-bathroom residence at 538 Chautauqua Boulevard in the Pacific Palisades, which sold for $32.3 million in July, setting a new market record. The property was listed by Compass agents Jacqueline Chernov, David Berg, F. Ron Smith, and Kristin Alexander, while Douglas Elliman's Cory Weiss represented the buyer.

    Nehemia has several other projects underway, including two properties on Via De Las Olas, which will offer unobstructed ocean views from their front facades. The 8,500-square-foot property at 15515 Via De Las Olas and its adjacent 7,500-square-foot neighbor are being designed as modern oases with amenities like gyms, spas, roof decks, and custom cabinetry.

    Nehemia expects these projects to be completed within the next six to eight months and estimates they will list between $18 million and $20 million. His other current projects, 565 Toyopa Drive and 500 Ocampo Drive, are around 8,000 square feet each and may hit the market in the $14 million to $16 million range.

    The developer is focused on perfecting his niche in the Pacific Palisades market, where he's learning about client preferences and what they want from their homes. He attributes his success to building properties that he would want to live in himself – modern, minimalistic spaces with a focus on functionality.

    However, Nehemia acknowledges that doing business in Los Angeles can be challenging due to the City of Los Angeles' Measure ULA transfer tax, which has added an extra layer of complexity and cost to new developments. Despite this, he remains committed to developing single-family residential properties within the city, although he has explored other options like townhomes and multifamily projects in Van Nuys and Hollywood.

    Nehemia's entry into real estate development was influenced by his father's retail investments, but he carved out his own path in residential development. His first project, a property at 12433 Kling Street in Studio City, was purchased for $525,000 and sold for $2.5 million after being renovated with all-cash financing. This early success has paved the way for Nehemia's current endeavors, including setting new records for Los Angeles luxury real estate.