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Month: January 2021

Beny Steinmetz found guilty of corruption

Beny Steinmetz (Getty)   A Geneva court has found Israeli billionaire Beny Steinmetz guilty of corruption. Steinmetz, who is reported to be a silent backer of New York real estate, was sentenced to five years in jail for paying bribes ...

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  • 22 Jan
  • The Real Deal
  • Uncategorized
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Rent and Covid force Standard hotel in WeHo to close

The Standard hotel in West Hollywood (Getty, iStock) The trendy Standard hotel in West Hollywood will close on Friday after 22 years in business, seemingly done in by higher rent prices and the battering effects of the coronavirus on ...

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  • 22 Jan
  • The Real Deal
  • Uncategorized
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CoStar closes in on CoreLogic

CoStar’s Andy Florance and CoreLogic’s Frank D. Martell (Photos via VCU; Getty; iStock) CoStar Group may be nearing its next acquisition. The data giant and a private group, led by Warburg Pincus, have emerged as the final two bidders ...

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  • 21 Jan
  • The Real Deal
  • Uncategorized
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California Association of Realtors group goes to court to defend “granny flats”

ADUs, also known as granny flats, are secondary housing structures built on single-family properties. (Getty)   A group backed by the California Association of Realtors is suing a San Diego County city over its alleged effort to hamper ...

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  • 21 Jan
  • The Real Deal
  • Uncategorized
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Madison Realty Capital provides $34M loan-on-loan for Warner Center redevelopment

Josh Zegen and rendering of 21555 Oxnard Street (iStock, Google Maps) Since losing its sole tenant over a year ago, a 450,000-square-foot Warner Center office building has been in dire financial straits, at one point seeing its ...

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  • 21 Jan
  • The Real Deal
  • Uncategorized
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How to sell a mansion for $350M? Use Google Forms

Spec home developer Nile Niami is soliciting buyers for his megamansion through Google Forms. (Getty)   While initially insisting that his Bel Air megamansion would be for “normal dudes,” Nile Niami is now going the elitist route. ...

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  • 21 Jan
  • The Real Deal
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LA’s scandal response: status quo

From far left: Jose Huizar, Nury Martinez, Eric Garcetti and Marqueece Harris-Dawson The FBI brought down the hammer last year on Jose Huizar’s alleged criminal enterprise, stating that the former Los Angeles City Council member milked ...

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  • 21 Jan
  • The Real Deal
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Compass’ Robert Reffkin shelled out $16M for NYC penthouse

Robert Reffkin A few months before Compass filed confidentially to go public, CEO Robert Reffkin made another hush-hush move. The brokerage chief went into contract on a penthouse in Tribeca in June and closed a month later, according ...

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  • 21 Jan
  • The Real Deal
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Trump’s people claim Geoff Palmer and Tom Barrack backed Zangrillo pardon

From left: Robert Zangrillo, Geoff Palmer, Tom Barrack and President Donald Trump (Getty, iStock) Donald Trump’s White House claimed developer Geoff Palmer lobbied the former president to pardon Miami developer Robert Zangrillo, whom ...

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  • 21 Jan
  • The Real Deal
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Paparazzi-proof former home of Britney Spears sold

Britney Spears and the home 12094 Summit Circle. (Getty, The Altman Brothers)   Oops, the price dropped again. And this time it sold! Britney Spears’ former Beverly Hills home has sold for $6.4 million, the New York Post reported. The ...

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  • 20 Jan
  • The Real Deal
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