Even in L.A.’s famously overheated real estate market, the profit — and quick turnaround — on a senior housing complex in the Cheviot Hills neighborhood seemed extraordinary.
The man at the center of the deal, since identified by federal prosecutors as Brentwood landlord and developer Steven Taylor, bought the property on Shelby Drive in 2023 for $11.2 million, purchase records show.
He wasn’t planning to hold on to the complex for long. At the time of his purchase, a company owned by Taylor already was in escrow to sell the complex to Weingart Center, a major homeless housing provider, for more than double what he paid, according to a purchase agreement obtained through a public records request…