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Month: May 2024

Former Muhammad Ali estate in Hancock Park lands on auction block

A century-old mansion in Hancock Park once owned by heavyweight boxing champion Muhammad Ali is set to sell at auction, with a current bid of $8 million. The 14,500-square-foot Italian Renaissance estate is up for auction at 55 Fremont ...

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  • 09 May
  • The Real Deal
  • Uncategorized
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WeWork adds West Hollywood, DTLA back to location roster

WeWork, the bankrupt New York-based coworking firm, has negotiated to keep two more Los Angeles locations, as a part of 16 lease assumptions the company disclosed on May 6. The two WeWork offices are located at Charles Cohen’s Pacific ...

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  • 09 May
  • The Real Deal
  • Uncategorized
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JLL tapped to market Gas Company Tower in DTLA for sale

The Gas Company Tower in Downtown Los Angeles is almost officially up for grabs. And it could sell to the City of Los Angeles.  Gregg Williams at Trident Real Estate, the receiver on the building, has hired JLL to market the 52-story ...

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  • 09 May
  • The Real Deal
  • Uncategorized
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Mohamed Hadid settles suit against Zach Vella over Beverly Crest site

Mohamed Hadid has settled a lawsuit against developer Zach Vella in relation to a partially built Beverly Crest mansion that was once listed for sale at $250 million.  In September 2022, Hadid, through an entity called Treetop ...

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  • 08 May
  • The Real Deal
  • Uncategorized
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Estate of late financier Robert Day lists in Bel-Air for $150M

The widow of the late oil heir and businessman Robert Day has put their 18,800-square-foot Gilded Age-style estate in Bel-Air on the market for $150 million. Marlyn Day has listed the 3.3-acre gated compound known as Villa dei Fiori, ...

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  • 08 May
  • The Real Deal
  • Uncategorized
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Afterpay co-founder buys $65M mansion in priciest LA deal this year

An entity linked to the co-founder of buy-now-pay-later firm Afterpay, Nick Molnar, has bought an estate in Holmby Hills for $65 million, marking the most expensive residential sale across Los Angeles County this year, The Real Deal ...

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  • 08 May
  • The Real Deal
  • Uncategorized
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Fewer Californians, more home construction — yet housing prices go up

California has fewer residents, but has built more homes. So why are homes more expensive to buy or rent? The Golden State has had a population decline since 2020 of 375,800 people to 38.2 million residents last year, a 0.9 percent ...

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  • 08 May
  • The Real Deal
  • Uncategorized
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Shangri-La files for Chapter 11 on four motel-to-home conversions

Shangri-La Industries, the troubled developer of motel-to-housing conversions for homeless residents, has declared Chapter 11 bankruptcy on four projects in California. The Los Angeles-based firm, accused of fraud by the state in ...

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  • 05 May
  • The Real Deal
  • Uncategorized
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Hudson Pacific posts $52M loss as office causes pain in portfolio

Hudson Pacific Properties is feeling the burn of withering office markets.  The Los Angeles-based real estate investment trust lost $52 million in the first quarter, up 160 percent from its $20.4 million loss reported in the same ...

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  • 05 May
  • The Real Deal
  • Uncategorized
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Parking emerges as contention point for ED1 projects

While Executive Directive 1, Los Angeles Mayor Karen Bass’ attempt to expedite affordable housing approvals, has generated interest from developers, there has been at least one major point of contention: parking.  Or, rather, the lack ...

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  • 05 May
  • The Real Deal
  • Uncategorized
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