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Real estate industry

Shapell Industries Defies Housing Market Crash

Strategic Insights

— 1 min read

Beverly Hills-based Shapell Industries, a parent company of S&S Construction and Shapell Homes, has maintained profitability despite the severe housing market downturn. Contrary to other developers that have filed for bankruptcy or ceased operations, Shapell has continued to build and sell homes, with evidence of a robust market demand. According to CEO Matt Koart, the company's strong reputation, dating back to its founding by Nathan Shapell in 1954, has enabled it to withstand the economic crisis.

Key Takeaways:

  • Shapell Industries has remained profitable despite the historic housing market crash, with sticks in the ground and consistent sales closures.
  • Prospective buyers have been camping out overnight in front of Shapell sales offices or lining up before dawn, with some 35 cars lining up at Las Brisas development in Porter Ranch and nearly two dozen at Tierra development in Yorba Linda.
  • Seven of the nine available homes were quickly snapped up at Las Brisas, and all five available homes were sold on the spot at Tierra.
  • CEO Matt Koart attributes the company's stability to a stellar reputation dating back 55 years to its founding by Nathan Shapell.
  • Shapell Industries has active developments in Southern California communities such as Laguna Niguel, Porter Ranch, Thousand Oaks, and Yorba Linda, as well as in Northern California communities like Danville, Gilroy, and San Ramon.
  • The company offers a wide array of luxuriously appointed residences with expansive living spaces, distinctive home designs, and lifestyle-enhancing amenities.

Statistics:

  • 70,000: The number of homes that stand as testimony to the Shapell commitment to quality construction, design excellence, and outstanding customer service, according to CEO Matt Koart.
  • 55 years: The time span since Shapell Industries was founded by Nathan Shapell, his brother David Shapell, and brother-in-law Max Webb.
  • 35: The number of cars that lined up at Shapell's Las Brisas development in Porter Ranch prior to the sales office opening.
  • 7: The number of homes sold out of nine available homes at Las Brisas.
  • 2 dozen: The number of prospective buyers parked outside Shapell's Tierra development in Yorba Linda prior to the sales office opening.
  • 5: The number of homes sold on the spot at Tierra.

Sources:

  • Shapell Industries Copyright 2009 Marketwire, All rights reserved.
  • Builder's Hall of Fame

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