Month: March 2021

Palari Group CEO Basil Starr and Mighty Buildings CEO Slava Solonitsyn with renderings of the project (Palari) Developers are building what they call “the world’s first community of 3D-printed zero net energy homes” in Rancho Mirage. Palari Group and Mighty Buildings plan to construct 15 homes on five acres in the Coachella Valley, according to…

Rudolph Valentino and his former estate, Falcon Lair (Getty, Hilton & Hyland) A four-acre Beverly Hills estate that once belonged to the golden boy of Hollywood’s early Golden Age is ready for its megamansion. Falcon Lair, the property that had been owned by silent film star Rudolph Valentino, sold for $15 million, according to Dirt.com.…

(iStock/Illustration by Kevin Rebong for The Real Deal) The number of investors backing house-flippers jumped 50 percent in two months, as low interest rates continue to drive the hunt for higher profits. Research firm Attom Data Solutions found that the gross earnings on a fix-and-flip home reached a little more than $66,000 in 2020, the…

Knotel CEO Amol Sarva and Newmark CEO Barry Gosin (Sarva via Sasha Maslov; Gosin via Newmark) A bankruptcy court has approved the sale of flex-office provider Knotel to brokerage Newmark. Newmark officials said they expected the deal to close quickly, Commercial Observer reported. The brokerage provided $20 million in debtor-in-possession financing after Knotel filed for…

Stuart Elliott Gone is the bombast of the Trump years, with its tweetstorms and incendiary press conferences. While this new era is quieter when it comes to rhetoric, it is just as tumultuous, and the changes we are seeing are perhaps even more monumental. The federal government is putting money in people’s pockets even faster…

California’s rent relief program received thousands of applications on the day the system went live. (Getty) One day after California’s federally-funded rent and utility assistance program opened applications, the system had received more than 20,000 requests. The $2 billion Covid-related program will help tenants pay back rent accumulated from April 1, 2020, through March 31,…

Ariana Grande and her Bird Streets property (Getty, Realtor) Ariana Grande has added a third property to her growing Los Angeles real estate portfolio. The pop star just bought a teardown in the Bird Streets for $8.9 million in an off-market deal, according to Dirt.com. The property, on three quarters of an acre, is close…

City Councilman Gil Cedillo and Hillside Villa (Getty, Google Maps) Los Angeles is exploring a sweeping rent freeze on apartments whose affordability covenants with the city have expired or are set to run out. A motion by the City Council instructs city staff to present recommendations to maintain rent prices using data on tenant displacement…

The “flexible hybrid model” is set to debut in July in North America (iStock) Ford Motor Co. will let some of its employees park it at home post-pandemic. The automaker revealed its “flexible hybrid model” Wednesday. It is allowing more than 30,000 employees to keep working from home even when it’s safe to return to…

Secondary market Seattle is facing major growth. (Getty) As new technologies, streaming and remote work drive demand for data centers across the country, smaller markets with relatively limited supply are attracting more attention. Data center space in secondary markets rented at a rate of $134 per kilowatt per month in the second half of 2020,…