Month: December 2017
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“Million Dollar Listing LA”: Great expectations
From left: Tracy Tutor Maltas, Josh Altman and Josh Flagg Well viewers, we’ve made it… to the midway point. We’ve successfully navigated the first half of Season 10 while witnessing our fair share of deal-making and drama. Here’s to all of the demanding developers, broker breakdowns and over-the-top open houses. Onward! In this episode, Josh…
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Federal judge tosses emoluments lawsuit against Trump
The then-President-elect Donald Trump speaking at a news conference addressing conflicts of interest at Trump Tower on January 11, 2017 in New York City. (Credit: Getty Images) From TRD New York: A federal judge dismissed a lawsuit alleging that President Trump violated the emoluments clause of the Constitution because his company’s hotels, office properties and…
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Barry Diller is now a majority investor in NeueHouse
Barry Diller, Diane Von Furstenberg and NeuHouse Madison From TRD New York: Barry Diller and Diane Von Furstenberg are the newest investors in co-working company NeueHouse. The power couple co-led a recent financing round in the company alongside Hong Kong-based Great Eagle Holdings, the Wall Street Journal reported. It’s not clear how much they raised. NeueHouse…
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LA-based investment firm allegedly swindled regional center out of EB-5 spoils: suit
Ace Hotel in Manhattan (Credit: Wikimedia Commons, Purple Slog) A Los Angeles-based firm that specializes in deploying EB-5 capital allegedly shut an Atlanta-based regional center out of profits made from marketing projects to Asian investors, a new lawsuit claims. The projects mentioned in the suit include the Ace Hotel in Manhattan. The Atlanta firm, Southeast…
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Spec home on site of Michael Bay’s former manse sells for $41M
Those are some seriously explosive views. A Bel Air mansion on a site formerly owned by big-budget action movie producer and director Michael Bay has sold for $41 million. The modernist manse originally designed by Jack Warner at 900 Stradella Road underwent a major renovation following Bay’s 2014 sale that nearly doubled its footprint, from…
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Adam Neumann complained to Jon Gray after Blackstone bet on rival: report
From left: Jonathan Gray, Shlomo SIlber and Adam Neumann From TRD NYC: Adam Neumann is not happy when his landlords partner with rival co-working companies, and he isn’t shy about letting them know. WeWork’s CEO criticized several landlords for deals with competitors, the Wall Street Journal reported. After Blackstone Group invested in a London-based co-working company, Neumann called the private equity firm’s…
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How the new tax bill could negatively affect LA homebuyers
Los Angeles Skyline and Mitch McConnell (Credit: Wikimedia Commons) The changes to mortgage interest deductions in the $1.5 trillion tax reform bill passed by the Senate early Wednesday morning could hurt those buying in high-priced areas like Los Angeles. The bill reduces the cap on mortgages that buyers can deduct interest from in their taxes…
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Malibu and Beverly Hills dominate LA’s most expensive neighborhoods
Edward Norton’s home The “Steven’s House” by John Lautner (Credit: The MLS, Wikimedia Commons) Surprise! Malibu and Beverly Hills were the most expensive places to buy in Los Angeles in 2017, according to a list of the 10 priciest areas based on median sales price. The most expensive neighborhood in LA this year was Malibu’s…
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Could Unibail’s Westfield deal pressure Simon Property Group to make a big buy?
Unibail Rodamco CEO Christophe Cuvillier and the Westfield mall at the World Trade Center From TRD New York: Unibail-Rodamco’s $15.7 billion bid to buy Westfield Corp. has the market buzzing about whether or not Simon Property Group will pull out its checkbook and acquire one of its smaller REIT rivals. Unibail, Europe’s largest real estate…