LA developer hit with lawsuit for homeless housing Ponzi plot

California attorney general Rob Bonta claimed in a civil lawsuit filed in LA County Superior Court that Shangri-La Industries illegally put developments in the state’s Project Homekey homeless housing program under threat by borrowing against them. Continue reading

Can a mega-mansion in Paradise Valley bring in a record $75M?

The state’s priciest-ever deal sold for $28.1 million in Scottsdale in June 2022, but with the lure of features like a metaverse room, a spa that generates snow and a lazy river, developers in Paradise Valley think they can get $75 million for an estat… Continue reading

Tiny-home startup’s production delays raise investor eyebrows

Tiny-homebuilding startup Boxabl has received $140 million in funding since its founding in 2017 and now has a waiting list of 160,000 tiny-home orders. How long will investors wait for homes to be delivered? Continue reading

New York state and New York City recoup $3M from luxury developer

Heatherwood Communities LLC received tax exemptions on two of their rental properties in Queens and Brooklyn, but failed to pay the buildings’ service employees wages and benefits for over two years. Continue reading

Los Angeles real estate developer arrested in murder-for-hire plot

L.A.-based developer Arthur Aslanian has been arrested for attempting to hire a hit man to kill a banker and an attorney that he collectively owed about $3.25 million, the Los Angeles Times reported on Friday. Continue reading

Engel & Völkers Americas promotes NYC leader as chief strategy officer

In this role, Stuart Siegel will identify and manage new areas of growth opportunity, and keep his existing roles as a leader at the brand’s New York City office and as global head of Private Office and Development Services. Continue reading

A $100M island sold in 4 months: The moves behind this agent’s deal

After Great Island failed to sell, Douglas Elliman agent Jennifer Leahy succeeded where other agents failed by leaning on her network, building community ties and thinking outside the box. Continue reading

The luxury home of the future is all about blurring boundaries

A deep integration with nature, more space and high-end smart home features are just some of the things luxury buyers will demand in their future homes. Continue reading

NYC developer appeals $6.75M judgment in 5 Pointz graffiti case

Developer Gerald Wolkoff appealed the judgment, saying “aerosol artists’ rights must be limited.” Continue reading