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Month: January 2018

Fed fines 5 banks over mortgage servicing

Janet Yellen, Goldman Sachs’ Lloyd Blankfein and Morgan Stanley’s James Gorman From TRD NYC: The Federal Reserve settled five mortgage servicing cases by issuing $35 million in fines to banks that were cited for flawed services. The ...

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  • 12 Jan
  • The Real Deal
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“Priced to sell” is still an alien concept in the luxury market

Property on Pacific Coast Highway (Credit: MLS, Pixabay) Luxury homes spend far more time on the market and typically sell at bigger discounts, largely thanks to unrealistic pricing. Much of the pricing dilemma comes from sellers ...

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  • 12 Jan
  • The Real Deal
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Beverly Hills investors pay $30M for Santa Monica’s Adidas building

Property at 1231-1233 Third Street Promenade (CBRE) A joint venture between Golden West Properties and Starpoint Properties paid $30.3 million to San Diego Promenade Investors to acquire the Adidas and Burn Fitness building at ...

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  • 12 Jan
  • The Real Deal
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Los Feliz’s top single-family transactions of 2017

Angelina Jolie and the Los Feliz home (Credit: Wikimedia Commons, HILTON & HYLAND) Los Feliz saw an uptick in high-priced home sales in 2017. There were 72 single-family home sales above $2 million in the northeast Los Angeles ...

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  • 12 Jan
  • The Real Deal
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It’s a landlord victory: Costa-Hawkins Act repeal fails

California State Capitol Building, David-Chiu and Richard-Bloom (Credit: Wikimedia Commons) Landlords in the Golden State were all smiles on Thursday. A bill that would have repealed the 1995 Costa-Hawkins Act failed to pass in the ...

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  • 11 Jan
  • The Real Deal
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Newmark is in advanced talks to acquire a top NYC retail brokerage

From left: Howard Lutnick, Barry Gosin and Robert Futterman From TRD NYC: On the heels of a lukewarm initial public offering, Newmark Knight Frank is close to acquiring the commercial brokerage RKF to grow its New York City retail ...

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  • 11 Jan
  • The Real Deal
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LA office asking rents continue to rise despite increased vacancy

Downtown Los Angeles (Credit: Wikipedia) Los Angeles’ office leasing market slowed down at the end of last year, thanks to sky-high rents and yet another uptick in vacancy. Average asking rents increased to $3.29 per square foot, up ...

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  • 11 Jan
  • The Real Deal
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It happens in art, why not in real estate? Buyers hiring experts to verify a property’s starchitect pedigree

Paul Williams homes (Credit: Wikimedia Commons) A starchitect’s name can add cachet to a listing, and raise the price several notches. But how can a buyer be sure that a home they’re slapping down millions for really is a Frank Lloyd ...

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  • 11 Jan
  • The Real Deal
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Developer of Metropolitan Water District site to file plans for megaproject

A rendering of the 1111 Sunset (credit: Skidmore, Owings & Merrill) A $600 million mixed-use project north of Downtown is inching closer to reality. Palisades Capital Partners is expected to file an application with city officials ...

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  • 11 Jan
  • The Real Deal
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After a sweet deal with dad, Eric Trump assembles a valuable penthouse

Donald Trump, Eric Trump and 100 Central Park South (Credit: Getty Images and Barlavi Realty LLC) From TRD NYC: This story was co-published with ProPublica. President Trump’s son Eric is preparing to capitalize on a windfall he ...

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  • 11 Jan
  • The Real Deal
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