In 2011, a California hotel owner refused to sell for $6 million; the final deal reportedly reached $16.25 million

For years, Ray Patel’s Golden Key Hotel stood on a busy stretch of Colorado Street in Glendale, California, surrounded by a city that was changing quickly. According to the Los Angeles Times, then came the Americana at Brand, a roughly $400 million mixed-use development that brought shops, restaurants and homes to the area.

Raccontata daeconomictimes.indiatimes.comtimesofindia.indiatimes.com