On December 22, 2020, the bankruptcy Trustee completed three sales of its real estate holdings located at

10080 W. Sunset Blvd. (also known as 141 S. Carolwood Dr.),

10060 W. Sunset Blvd., and

10100 W. Sunset Blvd. in Los Angeles, California

to three private entities for an aggregate cash purchase price of $88,000,000.

Here’s a link to some info on the property:

https://www.zillow.com/homes/10060-W-Sunset-Blvd-Los-Angeles,-CA,-90077_rb/95699619_zpid/

These sale transactions took place pursuant to three purchase and sale agreements, each entered into on December 17, 2020. The Company considers these properties to have been among the most significant assets in the Company’s residential real property portfolio and believes that the completion of these transactions represents a substantial step in the progress of the Company’s asset liquidation activities.

For those not familiar with California, real estate transactions aren’t fast – after there’s a contract (for sale) the property generally goes into what is called ‘escrow’ then several steps occur, etc. So these were very fast clean transactions! I’m guessing another distribution will be coming soon.

20 thoughts on “$88 Million Sold!

  1. Has anything been done regarding legal action vs law and bank firms that assisted Shapiro ? Do u think anything will come of such efforts? Any prediction when the Trust will complete sales? Much thanks.
    M

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  2. Hi. Any news on what percentage of the money we lost we will get back after everything is settled. And any news on lawsuit against comerica bank & other lawsuits
    Thanks

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    1. the lawsuits have basically gone on ice in that most courts stopped doing business all together due to Covid. Trials couldn’t proceed b/c jury(ies) couldn’t be called.
      So the case is still there, I’m sure small motions/efforts are occurring but the big picture is to force Comerica into facing a jury – that’s when they will settle with some $.
      Like everything else these days … waiting on Covid

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