Month: June 2019

Propy’s Natalia Karayaneva and TechCrunch’s Michael Arrington (Credit: Getty Images, iStock) Blockchain-based real estate platform Propy enabled the $1.6 million sale of a San Francisco property by a venture capital fund co-founded by Michael Arrington, the firm announced. The traditional process to sell real estate is “arduous and broken,” said Arrington, a co-founder of online…

David Sacks and 190 Almendral Avenue Silicon Valley mainstay David Sacks is selling his 11,000-square-foot home in Atherton, the area’s most exclusive town that’s home to numerous tech titans. Sacks is asking $22.5 million for the six-bedroom home, according to Variety. Last year, homes in Atherton sold for a median of $6.7 million, making it…

Booking.com CEO Glenn Fogel and Expedia CEO Mark Okerstrom (Credit: iStock) Resort fees, mandatory extra fees that often don’t appear in search results and that travelers sometimes only discover at checkout, have been on the rise in recent years as hotels face economic pressures on multiple fronts. And online booking platforms are now responding. Booking.com…

Lindsey Buckingham and 299 North Saltair Avenue (Credit: Getty Images) Maybe the buyer was a Fleetwood Mac fan? Lindsey Buckingham, former lead guitarist of the legendary group, sold his Brentwood mansion in one month, a high note in an otherwise down Los Angeles luxury market. Buckingham sold the home for $29.5 million, MansionGlobal reported. It…

Safe Harbor Equity is raising $200 million to buy distressed real estate loans (Credit: iStock) A Miami-based private equity firm is doubling its fundraising goal to $200 million to buy up distressed commercial real estate loans. Safe Harbor Equity founder, Ralph Serrano, said recent European and Asian fundraising tours revealed investors are eager to contribute…

From left: Ellen DeGeneres and her home and Jerry Perenchio and the Chartwell Estate The end of June provided some movement in the market, as celebrities in Malibu and Beverly Hills were able to close deals for homes priced below $20 million. In keeping with the broader luxury market trend, uber-pricey Chartwell Estate continued to…

California Governor Gavin Newsom and Los Angeles Mayor Eric Garcetti California state lawmakers this week agreed to a plan to disperse hundreds of millions of dollars in grants to Los Angeles and other jurisdictions in order to combat the growing homelessness crisis across the state. The plan could be voted on as early as Monday,…

A rendering of Fig and 8th The Los Angeles City Council approved another mixed-use high-rise for Downtown L.A. on Friday. This time it’s Mitsui Fudosan America’s [MFA] 41-story tower for the corner of Figueroa and 8th streets. The Council voted on Friday to deny an appeal of the aptly named “Fig and 8th” project and…

Garrett Camp, with Trousdale Estates (Credit: Flickr and Google Maps) Garrett Camp is single-handedly debunking any rumblings of a summer slowdown. The Uber co-founder and chairman spent $71 million to acquire a newly built mansion in Beverly Hills, Los Angeles Times reported. He spent another $9.5 million on a home in the Hollywood Hills less…

Towers at Emeryville and CEO of KBS Charles J. Schreiber Jr. KBS Capital Markets Group, an investment firm based in Newport Beach, has sold a nationwide office portfolio for $1.2 billion a trust based in Singapore named Prime US REIT. The deal includes 11 properties in nine states with nearly 3.4 million square feet of…