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n the shadow of President Trump's trade wars, Los Angeles real estate is navigating uncharted territory. The city's fragile recovery from January's devastating fires in Palisades and Eaton is being tested by a perfect storm of uncertainty. Southern California industrial landlords are bracing for impact as tariffs threaten to disrupt the flow of goods through San Pedro Bay Ports, sending ripples across warehouses and distribution centers.

    Meanwhile, the residential market is experiencing a mixed bag. Developers are holding back on new projects due to concerns over materials pricing, but high-end agents report no slowdown in luxury buyer activity. In fact, some neighborhoods like Corona del Mar are thriving. A recent $26 million sale of 2201 Bayside Drive marked the neighborhood's priciest deal this year, followed by a $4.3 million purchase by Belwood Investments for 2607 Ocean Boulevard.

    The company plans to add 2,000 square feet and upscale finishes before reselling it for between $11 million and $12 million. "Corona del Mar speaks for itself," said Steven "Bo" Belmont, founder of Belwood Investments, citing its beaches and walkability to dining. Another notable sale was the $20 million purchase of 1615 Bayadere Terrace in Corona del Mar's Irvine Terrace community.

    In a separate development, Los Angeles City Council members are exploring ways to use Measure ULA funds to aid wildfire victims in need of rental assistance. The proposal would tap into the city's "mansion tax" revenue, which was approved by voters in 2022 and went into effect in 2023. The tax is adjusted annually, with properties starting at $5.3 million subject to a 4% tax rate.

    The City Council has also been considering a temporary pause on the tax for Pacific Palisades residents affected by the recent fires. However, city attorneys are still studying whether this is feasible under voter-approved law. On the retail front, Sunset Strip is experiencing a comeback with the arrival of The Now, a mixed-use project at the corner of Sunset and La Cienega boulevards.

    Round 1 Delicious has leased 19,300 square feet to create an eight-restaurant concept called Sora, offering upscale Japanese and Chinese dishes. This deal accounts for about two-thirds of the available space in The Now, leaving a rooftop and indoor office space available on the third level.