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Written by The Real Deal

Mountain of Beverly Hills sells for a molehill

The Mountain’s sale, to a lender linked to the Mark Hughes Trust, was a tiny fraction of the massive property’s asking price. (Credit: Realtor, Wikipedia, iStock) The Mountain of Beverly Hills, which hit the market last year with a bang for a record $1 billion, has fizzled out, selling for just $100,000 at a foreclosure auction. The buyer and only Read More...

Written by The Real Deal

Near North Side dominates Chicago’s 5 priciest resi listings

Clockwise from left: 1521 North State Parkway, 1040 North Lake Shore Drive, 65 East Bellevue Place, and 21 East Huron Street (Credit: Redfin) The owner of a Gilded Age mansion has put his home back on the market, hoping to find a buyer theGold Coast residence. The home at 1521 North State Parkway — now selling for $10.3 million — Read More...

Written by The Real Deal

Knotel joins the unicorn club with latest funding round

Knotel CEO Amol Sarva (Credit: iStock) Well, another unicorn has joined the co-working corral. Knotel raised $400 million, bumping up its valuation to at least $1.3 billion, according to Bloomberg. Investors this round included Kuwait-backed Wafra and Japan’s Mori Trust, Itochu and Mercuria Investment. Previous investors, including Newmark Knight Frank, Norwest Venture Partners and Sapir Organization, also participated in this Read More...

Written by The Real Deal

Alex Sapir accused of mismanaging family fortune amid feud with Rotem Rosen

From left: Rotem Rosen, Zina Sapir, Tamir Sapir, Bella Sapir, Elena Sapir, and Alex Sapir (Credit: Getty Images) Rotem Rosen isn’t just seeking from the estate of Tamir Sapir. To corroborate claims that he saved Sapir’s real estate empire from ruin during the financial crisis, Rosen’s legal filings paint a picture of a family unable to manage their finances without Read More...