Stuart Vetterick of Hilton & Hyland also worked on The One deal, where he co-represented the buyer. He ranked 17th on TRD’s list and said while the wealthy are concerned with interest rates, many of his moneyed clients are more concerned about California’s high taxes on the wealthy.
While many of them make their primary residences in a low-tax state, they will concede that there are a limited number of places that can compare with the Southern California coast. Wealth buyers will continue to want either a primary or a vacation home in Los Angeles and coastal areas around the city, where quality of life sells itself, Vetterick said.