The luxury real estate market in Los Angeles ranks as one of the most fiercely competitive in the world, with firms large and small all vying for top listings in coveted locations.
Yet real estate developers looking to get the word out about a glossy new home listing or gleaming condo tower are increasingly turning to one man: Alexander Ali, a veteran entertainment industry executive who has turned his artistic eye to real estate.
“I grew up idolizing Hollywood so I market high end properties like a high-budget Hollywood film,” the 34-year old Mr. Ali says from his light-filled office in West Hollywood. He says he gets involved in a project a few months before the property hits market and devises everything from titles, movie trailers, and premiere events. “We’ve applied the same tactics used for launching a Hollywood film to these multi-million dollar properties and it’s carved a new path on how to get buzz to sell the home off market and get international exposure.”
The numbers tell the story of his success: Society Group has helped sell more than $250m in real estate since 2015, company figures show. They represented Hilton & Hyland on The Playboy Mansion which fetched $100m, and the firm is currently marketing a range of sprawling LA projects, including Nile Niami’s Opus, the nine-figure spec home perched above Los Angeles and The One, a 74,000 square foot mansion in Bel Air with a $500m price tag.
Prices for new developments are also rising. Average price per square foot was $1,095 by the end of 2016, a 14% increase from a year prior, according to appraisal firm Miller Samuel.
Courtesy of: Forbes and Troy McMullen