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Michael And Pat York Seek $7 Million For Hollywood Hills Home With Bonus Lot



In an area as star-studded as Hollywood, privacy is a highly desirable commodity—but with such a dense population, ample space for seclusion is not easy to come by.

For husband and wife Michael and Pat York, whose celebrated careers in acting and photography, respectively, have brought them international renown, privacy was a must.

That’s why, in 1976, the Yorks considered themselves lucky to find and purchase their home at 9100 Cordell Drive in the Hollywood Hills. Now, after nearly half a century, the Yorks’ slice of seclusion is going up for sale for $6.995 million with top luxury agents Linda May and Guy Levy of Hilton & Hyland representing the listing.

Tucked away behind iron gates at the apex of a cul-de-sac, the property also now includes an adjacent bonus lot that provides the York’s extra breathing room away from the outside world.

While the privacy afforded from additional space is an invaluable amenity, it can seem a shame to hide such a stylish home. Sleek elegance born from mid-century design principles makes this house, built in 1948, both distinguished and contemporary.

The three-bedroom, three-and-a-half bathroom residence is entered through bold double doors that lead to an airy foyer where the sun enters through a skylight and high ceilings that continue throughout the home.

A living room features timeless touches like a Texas limestone fireplace, built-in bar and floor-to-ceiling windows with sprawling views of the city below. These abiding stylings continue throughout the home with an emphasis on craftsmanship, as seen in elements like carved double doors, bright mosaic tiles and an antique stone fireplace imported from Paris.

The home’s library is outfitted with custom shelving with large skylights for a sunlit yet intimate space to read or relax. Equally as tranquil, the primary suite has dual walk-in closets and a spa bath with individually marbled showers.

A formal dining room and chef’s kitchen finish the 4,200-square-foot floor plan.

For relaxing outside the property features a spacious covered patio with a babbling garden fountain and an adjacent sundeck with a swimming pool.

With the existing 17,650 square foot plot and the additional lot, the land area comes to a total of 28,100 square feet, leaving plenty of potential for estate expansion or a separate development—or, if like the York’s, the space may be used to maintain privacy.

Michael York’s scores of credits include starring roles such films as Romeo and Juliet, Cabaret and Logan’s Run. Pat York’s work has been exhibited in museums and galleries worldwide, including the Corcoran Gallery of Art in Washington, the Marble Palace in St. Petersburg, and the Nostic Palace in Prague.

Hilton & Hyland is a founding member of Forbes Global Properties, a consumer marketplace and membership network of elite brokerages selling the world’s most luxurious homes.

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Real Estate

New Survey Finds Inflation, Housing Costs And Eviction Threats Hitting Minorities Hardest



Minority communities have been the hardest hit financially by the current spike in consumer prices and housing costs, with high percentages of Black, Latino and Native American families reporting serious financial problems and even threats of eviction, according to a survey published Monday by the Harvard T. H. Chan School of Public Health, NPR and the Robert Wood Johnson Foundation.

With the annual increase in consumer prices hitting a 40-year high of 9.1% in June, Americans, by a wide margin, cite inflation as the number one problem facing the U.S. But the actual impact on individual households is more dispersed. For example, in the new survey, 58% of Black adults, 56% of Latinos and 69% of Native Americans say inflation has caused them serious financial problems, compared to 44% of white and 36% of Asian adults

Soaring rents are similarly hitting certain minority households the hardest. In the new survey, 16% of Black renters, 10% of Latino renters and 21% of Native American renters reported they had been evicted or threatened with eviction in the past year. That compares to 9% of white and 4% of Asian families. “This is just a warning from this survey, that unless the government can provide some help for vulnerable populations, a year from now they are going to have more people who are homeless,” said Robert J. Blendon, co-director of the survey and an emeritus professor of Health Policy and political analysis at the Harvard T.H. Chan School of Public Health

Programs of emergency rental aid helped around 5 million American families during the early months of the pandemic, with 1.5 million fewer evictions compared to pre-pandemic levels. After 22 million Americans lost their jobs during the start of the pandemic, Congress provided $25 billion in emergency rental assistance in the Coronavirus Aid, Relief, and Economic Security Act (CAR
ES Act) passed in March 2020. A year later, in the American Rescue Plan, it added another $21.55 billion of rental assistance.

The CARES Act also included a temporary federal eviction moratorium that expired in the summer of 2020. It was later extended by the Centers for Disease Control (CDC), and then by Congress, and then again by the CDC. Finally, on August 3, 2021, after a surge in Covid-19 cases due to the Delta variant, the CDC extended the moratorium yet again. Later that month, the Supreme Court ruled against it.

Meanwhile, the emergency rental funds Congress appropriated have either been used up or are being returned to the federal government unspent. For example, last Thursday, Mississippi Governor Tate Reeves announced his state would halt the federally-funded Rental Assistance for Mississippians Program by Aug. 15, meaning as much as $130 million for the program would be returned to the federal government. California, having used up its federal money, ended its Covid-19 rental assistance program on March 31, 2022. It sent more than $4 billion to 344,000 households –but around 5,400 tenants and landlords have received emails asking to return money received in Covid-19 rent relief.

The housing component of the CPI increased 5.6% in the 12 months ended in June, but that includes costs to both homeowners and renters. In many places renters have seen far greater increases. According to housing data collected by Redfin
, average asking rents in June were up 14% compared to June 2021. In some sunbelt cities like Miami, rent has increased nearly 40%.

The recent spike in rent prices leaves low-income and minority groups in particularly precarious situations. A May report by the Federal Reserve Board showed that as of last fall, about half of renters with income between $25,000 and $49,999 were already “cost burdened”—meaning they were spending more than 30% of their income on rent. In the Fed survey, 44% of Black households and 37% of Hispanic households reported they were renters, compared with just 21% of white households.

“Unless some sort of emergency help is provided, a substantial number of minority populations are going to be evicted over the next year,” Blendon warns.

MORE FROM FORBESMortgage Applications Rise In Potential Housing Market Respite-Could Home Buying Become More Affordable Soon?

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VanTrust Real Estate breaks ground on 1-million-square-foot building in Louisville



The Kansas City-based developer continues to build large industrial buildings and parks nationwide.

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New Condominium Buildings Sweet On Pickleball



National Pickleball Day, celebrated each August 8th, is a grand day to recount a legend about the sport’s origins. The inventors of the game were seeking just the right kind of ball. It had to be bouncy enough to keep a volley going, dead enough to usually stay within a badminton-sized court. No ball tried seemed to achieve that happy medium.

Then one creator had a brainstorm. “Let’s get Pickle’s ball!” he cried, referring to the pet dog and its favorite toy. They grabbed the ball, put it into play and it displayed just the right balance of bounce and stiffness. The name pickleball was born.

Apocryphal or fact? We may never know. But one thing’s beyond debate. When included in a residential building’s amenities, a pickleball court is proving to be one of the most effective selling points of modern condominium sales teams. That’s because an ever-increasing number of prospective buyers can’t resist the prospect of engaging regularly in what is arguably the nation’s swiftest-expanding, most social sport.

Incredible rise

Pickleball rules. So says the Sports & Fitness Industry Association’s annual Topline Participation Report, which tracks participation rates of Americans 6 and older across 120 different sport, fitness and outdoor activities. “Pickleball continues its incredible rise,” the report’s authors concluded. It has become, they continued, “the fastest-growing sport over the last two years, with participation seeing a 39.3% growth.”

USA Pickleball’s 2022 Pickleball Fact and Media Sheet reports pickleball grew in 2021 to more than 4.8 million players in the U.S. Of that total, 3.5 million were casual players competing 1 to 7 times a year. And for those who associate pickleball with retirement communities, it’s interesting to note average age for all players continues declining. It reached 38.1 years in 2021, a drop of 2.9 years from 2020.

“Just a few years ago, pickleball was a niche pastime, with almost no mainstream awareness,” Related Group Senior Vice President Nick Perez says.

“Fast forward to today, and the sport is making national headlines as one of the fastest-growing hobbies in the country. It’s been an incredible rise.”

Perez should know. At his company’s Casamar, in Pompano Beach, Fla. residents continue to book the pickleball court, which is set alongside the sunrise and sunset pools, and within sight of dramatic Atlantic Ocean views. “It’s important for Related to meet our buyers’ needs and incorporate offerings in our products that are fresh and exciting,” Perez says. “That’s why we’ve added a full-size pickleball court . . . It’s been a strong selling point for the property, which is now nearly 60 percent sold.”

Active amenity

At luxury condominium ONE Park Tower by Turnberry at SoLe Mia in North Miami, pickleball is one of the long list of outdoor and active amenities that build community and contribute to wellbeing. That’s also the case at The Standard Residences in Midtown Miami, where residents can partake of a spirited game in an air-conditioned venue called The Stadium. Residents awaiting their turns on the court can cheer on their neighbors from the bleachers. The Standard Residences provides all pickleball gear, including uniforms, paddles, balls and even sweat bands.

“Our buyers are excited to have pickleball on property,” says Carlos Rosso, founder of Rosso Development, developer of ONE Park Tower and The Standard Residences. He adds another appeal of the game for developers is it takes less space than tennis.

“It has been a big draw and popular addition to our slate of amenities. Pickleball is an incredibly social game that can be played by people of all ages and appeals to all demographics. Parents can play with their kids, grandparents with their grandkids. It’s fun and brings people together.”

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