Stroh seeks to unload more east Detroit riverfront property

The Stroh River Place office building and several nearby properties on the east Detroit riverfront are up for sale as John Stroh seeks to cash out of a sizable chunk of his family’s real estate holdings in the city.

A 4.32-acre swath of east riverfront land the Strohs own also hit the market this summer, and coupled together, I can’t think of a more substantial Detroit portfolio up for grabs in recent memory.

But what will the market say? That’s TBD.

There is no listing price for any of the properties, but we can extrapolate a bit and get a general idea on some of them.

The listing by the Southfield office of Los Angeles-based CBRE Inc. comes four months after a trust tied to the Stroh family listed the vacant land at 2680 E. Atwater St. and 127 Jos. Campau Ave. over the summer.

In addition to those two

Read More

Elon Musk’s Quest To Unload All His Homes Makes Headway

Elon Musk has had another notch of success in his goal of selling all his Los Angeles properties, which he first offered for sale in a tantalizing series of tweets declaring that he was going to sell almost everything he owns had would have very few possessions.

The first buyer to purchase one of the homes was billionaire William Lei Ding, CEO of Netease
NTES
, one of the world’s largest online gaming businesses. Forbes estimates his net worth at $28.2 billion. Lei Ding purchased the largest of Musk’s Bel Air properties, a 7-bed, 11-bath mansion, for $29 million over the summer. This was a million dollars lower than the asking price, but $12 million more than Musk paid for the property in 2012.

Read More