Month: December 2017

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Robert Shapiro and Mercer Vine’s Beverly Hills office Mercer Vine, the residential brokerage caught up in the firestorm of a major Securities and Exchange investigation-turned-lawsuit, put its office building in Beverly Grove on the market at an undisclosed price, according to a listing on Loopnet. Robert Shapiro — who is at the center of the…

Carmel Partners provides more details on major DTLA Arts District

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520 South Mateo Street (credit: CoStar) Carmel Partners is shooting for a 2020 completion date for a major mixed-use project in the Downtown Los Angeles Arts District. The developer is looking to bring up to 600 live/work units, 20,000 square feet of office space, 15,000 square feet of restaurant space, 15,000 square feet of retail…

$100M outdoor mall project to replace SeaPort Marina Hotel in Long Beach

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A rendering of 2nd & PCH (credit: CenterCal Properties) Shop till you drop, eat till you pop. That’s what developers are promising at an ambitious new project in Long Beach. An outdoor mall heavy on dining and entertainment will replace the former SeaPort Marina Hotel. Being developed by CenterCal Properties and the Lin family, the…

By 2032, China will surpass US to become world’s largest economy: report

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Shanghai (Credit: Pixabay) China will surpass the United States as the world’s largest economy by 2032, according to a report by the Centre for Economics and Business Research (CEBR), a London-based consultancy. The CEBR report predicted that Asian economies would gradually surpass Western economies over the next 15 years and that by 2032, three of…

Here’s where foreign investment into the LA market is coming from

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From the October issue: Foreign investors and developers pumped more than $8.28 billion into the commercial real estate landscape in Los Angeles County in the last two years, making L.A. one of the hottest markets for foreign capital in the U.S, according to an analysis of Real Capital Analytics data by The Real Deal. Singapore and…

Lenny Kravitz-designed Hollywood Hills mansion listed for $38M

Dec 23, 2017

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Lenny Kravitz and 1894 North Stanley Avenue in Los Angeles (Credit: Wikimedia Commons, Hilton & Hyland) A modern spec mansion in the Hollywood Hills featuring interiors designed by rock star Lenny Kravitz has hit the market for $38 million. The Stanley House is Kravitz’s first single-family home project designed through his eponymous firm, according to…

From the archives: Inside L.A.’s spec homes arms race

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Bruce Makowsky’s $250 million home has yet to find a buyer. In February, Douglas Elliman broker Tracy Maltas took a client, a local businessman, to see a property in Bel Air. Maltas is no stranger to great wealth — she’s the daughter of billionaire former Miramax co-owner Ron Tutor and has seen her fair share…

GOP tax plan has people nervous about buying homes

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From TRD New York: The new Republican tax plan has Americans concerned about becoming homeowners. A recent Realtor.com poll found that more than half of the 2,300 respondents said they were concerned or very concerned about buying a home in the wake of the tax bill, according to Bloomberg. The recently passed tax overhaul limits interest…

Witkoff kick starts Fontainebleau project in Las Vegas after tax signing

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Steve Witkoff and the Fontainebleau Developer and Donald Trump pal Steve Witkoff is racing ahead with the long-stalled Fontainebleau casino and resort in Las Vegas after hearing the president signed the tax bill into law Friday. He restarted the project because of a provision in the new law that allows full and immediate deductions on…

Xceligent employee files class-action lawsuit against DMGT

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