Month: November 2022

Northland’s Matthew Gottesdiener and Greenland Holdings’ Zhang Yuliang with the THEA at Metropolis at 1000 W. 8th Street in Los Angeles (TheaDTLA, LinkedIn, Getty) A Chinese developer has sold the tallest apartment tower in Downtown Los Angeles for $504 million – nearly $200 million less than the cost of development. A U.S. subsidiary of China’s…

Wesley Edens and Rancho Cucamonga terminal for Brightline West (Brightline West, Getty) Plans to build a bullet train from the Inland Empire to Las Vegas lurched forward with a federal review of the project’s Rancho Cucamonga leg. U.S. regulators have completed an environmental study for Brightline West’s high-speed link from Rancho Cucamonga to the Mojave…

Oracle’s Larry Ellison with 2600 Colorado Avenue (Loopnet, Getty) Oracle, the Austin-based software firm run by billionaire Larry Ellison, has put an office campus in Santa Monica on the sales block, The Real Deal has learned. The company is looking to sell its roughly 320,000-square-foot complex at 2600 Colorado Avenue, according to Avison Young marketing…

Digital Bridge’s Marc Ganzi, Simon and David Reuben with Fairmont Century Plaza (Digital Bridge, Getty, Google Maps) The Reuben brothers have responded to the slew of allegations DigitalBridge has made against them, which claim the billionaire brothers deliberately failed to act after Michael Rosenfeld defaulted on more than $1.8 billion in loans connected to his…

Santa Monica Council member Phil Brock (votebrock.org, Getty) Towards the end of October, the City of Santa Monica seemed to be signaling a looming legal battle triggered by builder’s remedy. Just a couple weeks earlier, at a council meeting, city officials had been bamboozled by the now-famous revelation that a developer had filed a slew…

From left: Lea Porter, Robert Taylor, and Barbara Stanwyck with 423 N Faring Rd (Getty, Lea Porter, Zillow) A Holmby Hills house built by Barbara Stanwyck and Robert Taylor, movie stars of Hollywood’s Golden Age, has gone on the market for $50 million. The 11,000-square-foot, eight-bed, 10 bathroom house at 423 North Faring Road was…

JP Morgan’s Mary Callahan Erdoes with 1620 26th St (Loopnet, Getty) J.P. Morgan Asset Management has joined the slew of investors looking to bail out of a spiraling Los Angeles office market. The firm has listed its trophy tech hub in Santa Monica. The unit of New York-based JPMorgan Chase is looking to find a…

Ryan Seacrest, WEA’s Kurt Rappaport and Ellen De Generes (Getty, WEA) Ryan Seacrest sold his Beverly Hills estate — a compound with connections to Hollywood celebrities Ellen De Generes and Joan Collins — for $51 million on Nov. 7. Seacrest bought the compound at 1192 Cabrillo Drive for $36.5 million in 2012. The media personality,…

Dr. Dre and 22616 Pacific Coast Highway in Malibu (Zillow, Getty) Rapper and record producer Dr. Dre is unloading his boxy pad on the beach in Malibu for $20 million. Andre “Dr. Dre” Young has listed his 8,800-square-foot vacation home at 22616 Pacific Coast Highway, Dirt.com reported. He and his former wife, Nicole Young, bought…

Rick Caruso and Karen Bass (Getty) A new poll has Rep. Karen Bass leading billionaire developer Rick Caruso by 4 percentage points among likely voters in the sprint toward Tuesday’s election for Los Angeles mayor. Bass now leads Caruso 45 percent to 41 percent among likely voters, with 13 percent who remain undecided, the Los…