Month: January 2020

Donald Trump, Xi Jinping and (center) Oceanwide CEO Thomas Feng pictured with a photo of Oceanwide Plaza under construction and a rendering of the project (Credit: Getty Images, Google Maps) UPDATED, August 27, 9:02 a.m.: Looming over Staples Center and directly across South Figueroa Street stand three glass skyscrapers. They are part of a $1…

Richard Neutra’s Lovell House, in need of TLC, invites buyers in

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Richard Neutra’s Lovell House in Los Feliz is open for events — and possible offers from buyers. Richard Neutra’s austerely elegant, extravagantly windowed Lovell Health House in Los Angeles has long been regarded as a residential icon of International Style. Built on a Los Feliz hillside just east of the Griffith Park Observatory, the modern…

Hearst estate owner pleads with court to let him sell mansion

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William Randolph Hearst by his former home (Credit: Getty Images and Zillow) Do recent $100 million L.A. home sales mean that Leonard Ross deserves another chance to sell the fabled William Randolph Hearst mansion in Beverly Hills? That’s what Ross is arguing in an unusual bankruptcy case, one that could see the embattled real estate…

Chinese developer Oceanwide takes $276M loss on megaproject; CEO is out

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A rendering of the project Embattled Chinese developer Oceanwide Holdings has sold its flagship San Francisco development for $1 billion, taking a substantial loss on what was slated to be the city’s second-tallest tower. Oceanwide also announced that its CEO, Han Xiaosheng, was stepping down. Oceanwide is the same firm behind the Downtown Los Angeles…

Kansas twins plan 124-unit project in LA’s Exposition Park

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Chris Elsey and the property at 3760-3764 S. Normandie Avenue (Credit: LinkedIn and Google Maps) Bryan and Chris Elsey — the student housing development duo from Manhattan, Kansas — have submitted plans for another mixed-use project in Los Angeles’ Exposition Park. The Esleys’ West Exposition LLC is seeking to replace a 6,600-square-foot commercial building at…

For retailers, bankruptcy more likely to end in liquidation

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A report found that 45 percent of retailer bankruptcies over the past 15 years led to liquidation (Credit: iStock) Nearly half of the major retailers that filed for bankruptcy protection over the past 15 years eventually shuttered all of their stores, Fitch Ratings found in a report. Of 55 retail and supermarket bankruptcies, 25 were…

Multifamily still delivers as investors avoid rent control

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Harbor Group International’s Jordan Slone and Kushner Companies’s Charlie Kushner (Credit: Sasha Maslov, Harbor Group) Investors are still paying top dollar for multifamily assets — if they are outside of the reach of rent control. Across the country, investors paid more on average per apartment in the third quarter of 2019 than they did in…

“We’re putting ourselves in situations where anything is possible”: Real estate agent’s killing rattles industry

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Clockwise from top left: John Gomes, Ronita Kalra, Eric Benaim and McKenzie Ryan (Credit: Getty Images, iStock, Wikipedia) John Gomes had what he called “a danger feeling.” It was Halloween and the real estate agent was meeting a client in Lower Manhattan for a showing. That night in 2008, the client turned up with a…

Around LAX, office-to-hotel conversions are catching on

Jan 22, 2020

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