When your real estate investment literally goes to the dogs
There's a 22-unit condominium in West Hollywood that's become a masterclass in how quickly market momentum reverses. The building, sitting at the corner of Romaine Street and North Spaulding Avenue, was supposed to be someone's goldmine. Instead, it's now a den for six coyotes, each apparently claiming a room like they're squatting in a frat house.
The developer lost funding three to four years ago. Work stopped. The building went empty. And nature, being nature, moved in.
Neighbor Collin Newman describes the nightly soundtrack as "a cacophony of howls." Cindy Sorley, who lives nearby, says the howling happens at 11 p.m., midnight, 1 a.m., 2 a.m.—whenever the pack feels like reminding everyone who owns West Hollywood now. West Hollywood's housing authority has told the building's owner to hire a wildlife control operator to humanely remove the animals. The irony is almost too clean to write: a development conceived during the market's euphoric peak, abandoned during the correction, now serving as refuge for apex predators.
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This isn't just one builder's bad luck. West Hollywood's residential market has been in steady decline since 2023 highs, with home prices down roughly 15% year-over-year in early 2026. The broader commercial real estate sector has experienced a similarly sharp reversal in valuations. For years, the pitch was simple: buy now, prices only go up, this is generational wealth. Then reality did what reality does.
The coyotes aren't a metaphor. They're the actual result of a project that made sense at peak market enthusiasm and made no sense by the time construction halted. Six animals in six rooms, waiting for someone to decide what happens next.
West Hollywood officials are handling it. The coyotes, probably, are fine.
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Danny Fisk
Staff writer covering financial markets and corporate strategy. Has strong opinions about spreadsheets.
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