Rodeo Realty First Commercial Building Going Up

Rodeo Realty owner Syd Leibovitch surrounded by builders who are working on construction to replace the building lost in the Palisades Fire.

“I own the building and I’m rebuilding it how it was before the fire,” said Rodeo Realty owner Syd Leibovitch. “I hope to open in December.”

The building at 839 Via de la Paz, which housed the Palisadian-Post, was built in 1948, according to the L.A. County Assessor.  Rodeo Realty closed escrow on the Palisadian-Post Building at 839 Via de la Paz for $3 million in fall 2013.

In addition to keeping the square footage, which includes a second story at the back of the building and making some “storefront” changes, Leibovitch is also working on earthquake retrofit work.

He was asked about the City building fees, “The permit and plan check fees were about $25,000,” he said and added, “But some fees we didn’t have to pay.”

Leibovitch also had good experience with his commercial insurance. “Farmers was fair and fast.”

He’s excited about the town’s rebuilding. “Everything will be brand new in a prime location.” Leibovitch said about Pacific Palisades. “This area will be the best in the country; everything will be pristine.

When he was 25, in 1986, Leibovitch founded Paramount Properties, which would eventually morph into Rodeo Realty. The company has 1,200 agents in LA. Ventura and Orange Counties. By 2008, Rodeo Realty was recognized as the largest single-owned independent real estate company in California by CAR’s Realtor Magazine. In 2021, the firm achieved remarkable milestones, recording a staggering sales volume exceeding $7 billion.

Leibovitch has called Pacific Palisades “one of the most desirable locations” to own a home. Anywhere in the county, to have most of a town rebuilt in a prime location is “unheard of,” he said. “Now the buildings will all be new.”

He recognizes that “there will be growing pains along the way, but the longer construction goes, the more will be developed. . .and the area values will go up.”

He’s predicting that in the end, even if it takes 8 to 10 years to complete, it will be a community of new homes in a desirable location. “I know it will be really great in the end,” he said.

Leibovitch was asked about people’s concerns that a town under construction won’t be a great place to live. “I don’t think they’re right,” he said. “It won’t be as bad as people think.”

His home also had smoke damage, and he is working with Fair Plan insurance. Unlike his office building, “that has been terrible,” he said.

But about the new/old town, he’s optimistic and enthusiastic.  “It’s going to be fabulous,” he said.

Rodeo Realtor owner Syd Leibovitch (left) with agents Sandra Alcalay and Jean-Pierre Provo at the new offices which are slated to open in December.