Chinese Airbnb rival is raising funds to take on the American kingpin of home-sharing

The multi-billion-dollar home-sharing industry, which is transforming short-term rental markets around the globe, could soon be redefined by new competitors. One of Airbnb’s biggest rivals, Xiaozhu, is in talks with investors for more than $200 million to take on the pioneering American home-sharing giant, Bloomberg reported. The company’s website lets users rent and host homes[…]

Tax breaks, payment dispute haunt Glenstone Museum’s newly completed $200M expansion

Glenstone Museum, home to billionaire couple Mitchell and Emily Rales’ private collection of contemporary and modern art, is opening this week after a pricey revamp in which contractors claim they were shortchanged. Built in 2006, the complex that contains their collection is located a few miles outside of Washington, D.C. on the site of a[…]

Life among the 1%? Fisher Island couple sues after use of VIP ferry lane suspended

Ferry access to Fisher Island is so exclusive, owners and residents are banished to the back of the line if they or anyone going to their homes receives more than one speeding ticket traversing the ritzy community, according to a recently filed lawsuit in Miami-Dade Circuit Court. The issue led biomedical research company honcho Maxim[…]

Meet the Dallas developer amassing discounted estates through auctions

Mehrdad Moayedi seems to be making a habit out of buying vast properties at auctions. The Dallas-based developer just landed former billionaire Sam Wyly’s 244-acre ranch just outside Aspen for a mere $14 million and change–a 75 percent reduction from its original asking price of $60 million, according to Mansion Global. Moayedi got the six-house[…]