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Month: January 2020

Merck billionaire plans to tear down 1 Electra Court and go twice as big

Frank Binder and Alexandra Schuck, with 1 Electra Court (Credit: Hilton & Hyland) Billionaire Frank Binder, heir to the fortune of pharma giant Merck, wants to demolish a  Hollywood Hills mansion he bought last year from Ponzi ...

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  • 07 Jan
  • The Real Deal
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Home buyers start 2020 with drop in mortgage rates

Buyer sentiment was strong at the close of 2019 (Credit: iStock) The housing market is launching into 2020 with a flurry of activity as mortgage rates fell last week to the lowest level since October. According to CNBC, there were a ...

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  • 07 Jan
  • The Real Deal
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Ryan Serhant’s $50K cash offer to buyers’ agents ruffles feathers

Ryan Serhant (Credit: Ryan Serhant via YouTube) UPDATE Monday, January 6, 2019, 11:22 a.m.: In less than three minutes, Ryan Serhant inadvertently acknowledged residential real estate’s elephant in the room: agent incentives. “I went ...

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  • 07 Jan
  • The Real Deal
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Side hustle: VC-backed resi firm grows in SoCal

Matt Luke (Getty Images and iStock) Flush with venture capital money, San Francisco-based Side is moving deeper into Southern California, announcing partnerships Monday with agent teams in Orange, San Diego, and Riverside counties. ...

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  • 06 Jan
  • The Real Deal
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Beverly Hills properties once owned by convicted RE Ponzi schemer Shapiro sell for $69M

Carla House at 1966 Carla Ridge and Robert Shapiro Five Southern California properties once owned by convicted real estate Ponzi schemer Robert Shapiro have sold for a total of $69.1 million, according to documents filed with the ...

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  • 06 Jan
  • The Real Deal
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Pier 1 Imports to close 450 stores across US

Pier 1 to close almost half of its stores (Credit: Getty Images) Pier 1 Imports is the latest retailer to shutter hundreds of stores nationwide amid plunging sales. The home goods retailer said it plans to close almost half of its ...

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  • 06 Jan
  • The Real Deal
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The Guild, a cross between Airbnb and a corporate-stay hotel, raises $25M

The Guild Founders Brian Carrico and Chris Herndon The Guild, a real estate startup focused on corporate travel, has raised $25 million to expand its national footprint and further its tech offerings. The round, announced Monday, ...

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  • 06 Jan
  • The Real Deal
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Investor proposes 53-unit apartment complex in NoHo

11029 W. Hartsook St., North Hollywood (Credit: Google Maps) Add another project to North Hollywood’s recent flurry of multifamily development. An investor has filed an application to build a 53-unit apartment complex at 11029-11035 ...

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  • 06 Jan
  • The Real Deal
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Bed Bath & Beyond is selling its real estate to private equity

Bed Bath & Beyond (Credit: Getty Images) Bed Bath & Beyond will sell about half of its real estate to a private equity firm and then lease back the space, a deal expected to earn the company more than $250 million. The ...

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  • 06 Jan
  • The Real Deal
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These real estate players have raised a bundle for Biden

From left: RXR Realty’s Scott Rechler, Chicago real estate mogul Neil Bluhm, Joe Biden, Adler Group’s Michael Adler, L.A.-based developer Jeff Worthe (Credit: Getty Images, Adler Group, iStock) UPDATED, Jan. 6, 1:48 p.m.: Scott Rechler ...

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  • 06 Jan
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