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Fortune
Fortune
Sydney Lake

The mansion tax was a ‘nightmare’ for luxury real estate in Los Angeles this year, ‘Selling Sunset’ star says. But 2024 could be a ‘sweet spot’ for buyers

Selling Sunset star Emma Hernan is optimistic about the luxury real estate market for 2024. (Credit: Photo courtesy Emma Hernan)

You may know her as the Barbie-like figure landing multimillion-dollar deals for a Los Angeles–based luxury real estate firm on Netflix’s hit TV series Selling Sunset. But Emma Hernan was a real estate investor long before she was an agent selling properties to superstars.

This self-made multimillionaire, former model, entrepreneur, and real estate investor earned her fortune investing in the stock market and startups before she bought her own home in 2017. The following year, she started working for the Oppenheim Group, the firm she had used to buy her house, focusing on selling luxury real estate to and for many celebrities. In 2023, she fought off many of the challenges facing the local housing market—namely the newly introduced city mansion tax—by helping pop star Harry Styles sell his L.A. estate for $6.7 million. 

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