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The Real Deal Los Angeles

  • HotelTonight, after rough patch, plans to go public

    Hotel booking startup's IPO slated for late 2017
    August 25, 2016 10:00AM
    Hotel listings on Hotel Tonight

    Hotel listings on Hotel Tonight

    From the New York website: Hotel booking startup HotelTonight is going public. [more]

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  • LeFrak plans 260-unit Hollywood mixed-use development

    New York firm bought the Art Deco property for $5.85M in 2007
    August 25, 2016 09:00AM By Cathaleen Chen
    LeFrak CEO Richard LeFrak and the site at 6436 West Hollywood Boulevard

    LeFrak CEO Richard LeFrak and the site at 6436 West Hollywood Boulevard

    New York developer Richard LeFrak is expanding his footprint in Los Angeles with a new mixed-use project in Hollywood.

    LeFrak has submitted plans for a 278,892-square-foot mixed-use complex with 260 residential units and 17,800 square feet of commercial space, according to city planning documents. [more]

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  • Neighborhood Integrity Initiative turns in 100K signatures for ballot measure

    Anti-development initiative could be officially certified as early as next month
    August 25, 2016 08:30AM
    (Credit: Credit: Coalition to Preserve L.A.)

    (Credit: Credit: Coalition to Preserve L.A.)

    Supporters of the Neighborhood Integrity Initiative turned in nearly 104,000 signatures to the city clerk’s Wednesday, effectively ensuring its place on the March ballot.

    The ballot measure aims to curb development through a two-year moratorium on projects of a certain size, a ban on “spot zoning” and other amendments.  [more]

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  • Most Popular on The Real Deal

    August 25, 2016 07:30AM

    Current reader favorites:

    1. Edward Minskoff on why his bet on Playa Vista will pay off

    2. Is DTLA’s retail market becoming a bit too hot?

    3. Here’s who’s fighting the Neighborhood Integrity Initiative

    4. Compass expands office footprint in Beverly Hills, Malibu

    5. Children’s retailer plans 8-story rental building in Westlake

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  • Elad Group’s Carlyle condos in Westwood sell out for $275M

    Units at Carlyle Residences sold for an average of $1,044 a square foot
    August 24, 2016 05:00PM By Hannah Miet
    Inside a unit at the Carlyle Residences, and, from left: Mauricio Umansky of the Agency and Samantha Saxs of Elad Group

    Inside a unit at the Carlyle Residences, and, from left: Mauricio Umansky of the Agency and Samantha Saxs of Elad Group

    Elad Group’s 24-story condo project in Westwood, the Carlyle Residences, is finally 100 percent sold, The Real Deal has learned. The total gross sales reached just over $275 million, averaging $1,044 per square foot.

    The building was completed in 2010, when the market was sluggish. It banked $80 million in sales in both 2013 and 2014, and two of its penthouses sold for $7.9 million each, according to Elad Group. [more]

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  • Clippers’ point guard seeks $3M profit on gated estate

    Chris Paul listed Bel Air pad for $11.5M that he bought for $8.5M
    August 24, 2016 03:30PM
    Chris Paul and his home at 2180 Stratford Circle

    Chris Paul and his home at 2180 Stratford Circle

    Here’s your chance to make a play at Chris Paul’s Bel Air pad.

    The Clippers point guard listed his home for just under $11.5 million, the L.A. Times reported. Ikem Chukumerije of Westside Premier Estates is the listing agent. [more]

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  • Slash slashes price of rockstar lair to $9.5M

    The Mulholland Estates abode has six bedrooms and a stripper pole
    August 24, 2016 02:00PM

    A photo posted by Slash (@slash) on

    Finding no takers for his Mulholland Estates party pad, the top hat-wearing Slash cut its price tag by a full million to $9.5 million.

    Relisted with Jordan Cohen of RE/MAX Olson & Associates, the 11,000-square-foot Mediterranean villa is lacking in some of its original rockstar appeals, including the cheetah-print carpeting and pirate ship chandeliers, the L.A. Times first reported. [more]

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  • Witkoff, Lorber raising $75M in EB-5 financing for Hollywood Edition

    Developers previously scored $260M construction loan from Cornerstone Real Estate Advisors
    August 24, 2016 01:00PM By Katherine Clarke
    Howard Lorber, Steve Witkoff and the Hollywood Edition

    Howard Lorber, Steve Witkoff and the Hollywood Edition

    Two New York developers are seeking to raise EB-5 money for the construction of the first Edition Hotel on the West Coast, The Real Deal has learned.

    Howard Lorber and Steve Witkoff are trying to raise $75 million in mezzanine financing through the program, which grants foreign investors green cards in exchange for a minimum investment of $500,000 in job-creating projects in the U.S.  [more]

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  • Looking back at Trump Mortgage: the Donald’s short-lived, ill-conceived brokerage

    Presidential candidate's mortgage company sputtered by 2008 along with nation's housing market
    August 24, 2016 12:00PM
    Donald Trump (Illustration by Lexi Pilgrim for The Real Deal)

    Donald Trump (Illustration by Lexi Pilgrim for The Real Deal)

    From the New York website: Out of all of Donald Trump’s business blunders, Trump Mortgage LLC was among the shortest-lived and most ill-conceived. [more]

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  • L.A. homebuyers pay a significant premium to live in walkable neighborhoods: Redfin

    Angelenos will pay $3,948 more on average to live in pedestrian-friendly areas
    August 24, 2016 10:00AM
    The intersection at Hollywood Boulevard and Highland Avenue (Credit: LA Great Streets Tumblr)

    The intersection at Hollywood Boulevard and Highland Avenue (Credit: LA Great Streets Tumblr)

    Angelenos are notorious for driving everywhere, but they’re paying top dollar to live in walkable neighborhoods.

    Homeowners in pedestrian-friendly L.A. neighborhoods pay an average premium of $3,948 more for homes in more walkable neighborhoods, according to a study by Redfin. [more]

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