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Month: November 2019

Beverly House owner hopes Saudi prince is his white knight

The 50,000-square-foot Beverly House (Credit: Jade Mills Estates) The owner of a famed Beverly Hills mansion who has for years tried to sell the massive property, is hoping to avert foreclosure by asking a bankruptcy court to let him ...

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  • 29 Nov
  • The Real Deal
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Home prices accelerate nationally as owners stay longer

Home prices are on the rise, and homeowners are opting to stay in their homes longer (Credit: iStock) The pace of rising home prices quickened in September and existing home sales ticked up 1.9 percent. Average home prices in cities ...

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  • 29 Nov
  • The Real Deal
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Disgraced casino mogul Wynn to pay $20M to settle shareholder suit

Steve Wynn and the Wynn Las Vegas Resort (Credit: Getty Images) Disgraced casino mogul and billionaire Steve Wynn is now set to pay $20 million in damages to settle a shareholder lawsuit after alleged sexual misconduct. The damages ...

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  • 29 Nov
  • The Real Deal
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Judge clears way for Harridge’s Crossroads megaproject

AIDS Healthcare Foundation Executive Director Michael Weinstein with a rendering of Crossroads of the World Harridge Development has swatted away the latest lawsuit against its Crossroads of the World megaproject in Hollywood. A judge ...

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  • 29 Nov
  • The Real Deal
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Millennials head west for housing, and institutional investors follow

The Mountain States saw the fastest home-price growth of any region (Credit: iStock) Millennials in search of more affordable digs are heading west, swapping Brooklyn for Boulder. And institutional investors are taking the hint. ...

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  • 29 Nov
  • The Real Deal
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Will the condo craze ever kick in?

Adept Urban’s 388 Cordova Street in Pasadena Will Los Angeles ever be a luxury condo metropolis? Zoning laws, building costs and buyers’ preference for more space have all conspired to keep L.A. homes close to the ground. But there are ...

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  • 29 Nov
  • The Real Deal
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Robert Shapiro gets 25 years in prison for massive Ponzi scheme

Robert Shapiro, along with two of Woodbridge Group’s former luxury properties, and at right, a federal prison. (Credit: iStock) UPDATED, Oct. 15, 11:04 a.m.: When developer Robert Shapiro pleaded guilty in August to leading a $1.3 ...

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  • 28 Nov
  • The Real Deal
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“Billionaire” mansion sale is the latest fail in “ego pricing:” brokers

Bruce Makowsky sold his mansion for $156 million less than its original asking price Josh Flagg warned him. When Bruce Makowsky listed his Bel Air spec mansion for $250 million in 2017, Flagg, a broker at Rodeo Realty not involved in ...

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  • 28 Nov
  • The Real Deal
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NAR approves pocket listings killer

NAR President John Smaby and the Chartwell Estate, first shopped as a pocket listing in 2017 (credit: NAR) UPDATED 11:15 a.m., Nov. 11: The National Association of Realtors’ board approved a controversial policy that could drastically ...

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  • 28 Nov
  • The Real Deal
  • Uncategorized
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The breakdown: How California’s new rent control law compares to New York’s

From left: California Governor Gavin Newsom, Governor of New York Andrew Cuomo, and California Assembly Member David Chiu (Credit: Getty Images, iStock, and Wikipedia) With a little more than 48 hours before the clock ran out, three of ...

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  • 28 Nov
  • The Real Deal
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