Month: March 2018

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Television City and CBS Chairman Les Moonves Is it the end of Hollywood’s love affair with, well, Hollywood? Selling pricey Los Angeles real estate may be a lucrative option for old-line film studios trying to cut costs. Their streaming competitors, meanwhile, have chosen to lease space as they beef up their original content. Many of…

Going up: Elevator technology is reaching new heights in skyscrapers across the globe

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During the next two years alone, 187 skyscrapers are expected to pop up across the globe — each of which will rise 820 feet in the air. As developers look to build taller and taller, some elevator companies are exploring ways to revolutionize vertical travel. A recent report by Bloomberg examined new technologies addressing speed,…

US ambassador Carla Sands lists Bel Air mansion for $37M

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U.S. Ambassador to Denmark and Vintage Capital Group executive Carla Sands A U.S. ambassador and major donor to Donald Trump’s presidential campaign has listed her sprawling estate in Bel Air, seeking a cool $37 million. U.S. Ambassador to Denmark and Vintage Capital Group executive Carla Sands listed her 14,000-square-foot mansion on Moraga Drive, Mansion Global…

Is LA’s big plan for more affordable housing development just a mirage?

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(Credit: Wikimedia Commons, Pixabay) Six months after Los Angeles began a major effort to boost affordable housing by offering incentives to private developers, the proposals have poured in. So far, developers have submitted to the city 42 apartment plans with units set aside for low-income residents. But scratch the surface on those designs and what…

Lightstone Group’s 1,150-key hotel project gets preliminary green light

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Renderings of Fig + Pico (Credit: LADCP, lightstonegroup) Lightstone Group has cleared another hurdle as it sets out to build “Fig + Pico,” a large mixed-use project slated across the street from the Los Angeles Convention Center. The L.A. Planning Commission approved the project, which now heads to the City Council for final approval, CoStar reported.…

Wynn Resorts secures $800M line of credit to help pay $2.6B settlement

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Steve Wynn (Credit: Getty Images) Wynn Resorts has secured an $800 million line to credit to pay for a multibillion-dollar settlement regarding one of its founders. The company, which is undergoing a leadership shakeup due to a separate sex scandal and ensuing stockholder revolt, closed a 364-day term loan from Deutsche Bank. Wynn Resorts plans…

Nun dies during court hearing over her convent’s disputed sale to Katy Perry

Mar 10, 2018

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From left: Sister Catherine Rose Holzman, Katy Perry. (Credit: Sisters of The Immaculate Heart’s documentary, Our Story; Eva Rinaldi) A nun involved in a legal dispute with Katy Perry over the sale of her convent to the pop star collapsed and died in court Friday. Sister Catherine Rose Holzman was among a group of nuns…

This week in celeb real estate: 3 heirs to fortunes bet big on L.A.’s luxury market…plus Mike Myers

Mar 10, 2018

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From left: Ellen Bronfman, and Bel Air neighborhood, with Evan Metroupolos, and Sierra Tower In the most unique of luxury listing, Evan Metropoulos has put his stripped penthouse atop the Sierra Tower in West Hollywood on the market for $58 million. Metropoulos, whose brother owns the iconic Playboy Mansion and father owns Hostess Brands, combined…

Taxpayers get good news on HELOCs

Mar 10, 2018

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It’s official: Despite widespread fears to the contrary, the IRS has clarified that last year’s big tax bill did not kill all interest deductions on home equity lines of credit (HELOCs) and equity loans. In a policy statement, the IRS said that it has received “many questions … from taxpayers and tax professionals” about HELOCs…

Home flips are back with a vengeance

Mar 9, 2018

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