Month: February 2018

1551 E 76th Place (Credit: Google Maps) A Los Angeles man put his faith in the Pico Rivera Century 21 Allstars to sell his deceased father’s home. In return, he claims in a lawsuit, the real estate agents convinced him to slash the price of the house by 40 percent before they then resold the…

Troubling sign: HNA group turns to employees to raise funds

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HNA Group CEO Adam Tan HNA Group, which is saddled under $90 billion worth of debt from its global buying spree, is turning to company employees to help raise funds. The Chinese conglomerate sent emails offering an “employee treasure” product – essentially a high-interest loan workers make to their employer, the New York Times reported.…

Bel Air developer Mohamed Hadid accused of rape: report

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Mohamed Hadid (Credit: Getty Images) In a social media posting, model Miranda Vee has accused real estate mogul Mohamed Hadid of rape, the New York Post reported. The 23-year-old also charged that Guess clothing co-founder Paul Marciano played a role in the assault, the paper reported. Vee publicly denounced Hadid, 69, and Marciano on Instagram,…

Bastion files for mixed-use project in popular Koreatown

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The Village, Koreatown (Credit: Bastion) Vancouver-based Bastion Development Corporation filed plans on Thursday for a seven-story mixed-use development in fast-developing Koreatown. The plans are for 114 apartments above 3,550 square feet of ground-floor retail, according to Urbanize LA. The building, to replace a medical office building at the corner of Olympic Boulevard and Manhattan Place,…

Here are real estate’s tech disruptors

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(Illustrations by Daniel Nyari) From the New York issue: Just 20 years ago, fax machines were in wide use and most people didn’t have cell phones. Fast forward to today, and smartphones are inescapable and personal hotspots are tucked into everyone’s pockets. The real estate industry has seen its own advances during that time, with drones…

Airbnb won’t IPO this year, announces C-suite shakeup

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Brian Chesky and Belinda Johnson (Credit: AirBnB) FROM TRD New York: Laurence Tosi, the chief financial officer of short-term rental giant Airbnb, is leaving the company amid tension with Airbnb’s number one, Brian Chesky. The former Blackstone Group executive was a proponent of Airbnb’s going public, and with Tosi’s exit, the IPO will be delayed…

Estate sales are finding new life with millennial buyers

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Greta Garbo, the Campanile, Joan Rivers and 1 East 62nd Street Estate sales are finding a new popularity with millennials drawn in by the life stories of the rich and famous. And while the contents of their homes often prove to be the most lucrative assets, the real estate of the deceased can command top…

SoCal wildfires rack up $2 billion in losses

Feb 1, 2018

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Southern California Wildfires (Credit: Getty Images, MaxPixel) The December wildfires in the Southern California region caused nearly $2 billion in losses, with more than 13,000 claims filed by homeowners and businesses, SCPR reported. A large portion of the insurance claims filed were a result of the Thomas Fire, which broke records as the largest…

After the inauguration, New York, LA and South Florida real estate rewarded Trump with even more money

Feb 1, 2018

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