LA’s Fire Recovery Czar Privately Tells Hollywood Execs to Hold on to Their Properties, Promising City Investments Will Triple Their Palisades Property Values
2nd February 2025
Los Angeles mayor Karen Bass’s (D.) wildfire recovery czar, Steve Soboroff, advised Hollywood talent executives on a private Zoom call to wait to sell their properties. City investments in the Palisades neighborhood, he said, will allow them to “triple” the low-ball offers they’re currently receiving.
“Whether you’re broke or you’re old, don’t sell now, because in one year we’re going to be putting billions of dollars in your neighborhood of improvements,” Soboroff said Thursday. “You’ll get triple what these guys are offering you for now.”
It appeared at least some of the call’s attendees had their homes damaged or destroyed entirely in this month’s wildfires, while others were looking for ways to help.