South Park DTLA Renamed to "Social District"

DTLA's South Park Renamed "Social District"

Not the most creative name, but South Park, which doesn't actually have a lot of parks, has been officially renamed "Social District." The argument being that it's the hub where LA Live, Crypto.com Arena, Convention Center, hotels, lots of upcoming dining spots, etc are located. 

Yes Please, to a Park in South Park!

Motion for South Park parking Lot to Become Park

Located next to the AEG offices and across from the Elleven Lofts. Finally, a decent proposal from the city and one that if passes, will pave the way for more parks in DTLA.

https://www.spna-dtla.org/blog/motion-for-park-in-south-park-on-aegs-grand11th-lot

Interesting Properties for Sale in DTLA Right Now

257 S. Spring #4G

2 bed, 2 bath 1 underground parking space, corner unit

Mills Act Building

Walk to Grand Central Market, The Broad, Little Tokyo, Arts District, Gallery Row, Spring Arcade

Coldwell Banker - Call for pricing (310-869-2655)

1100 Wilshire #2202

2 bed, 2 bath 2 parking spaces, corner unit with 270 degree views

Down the street from Fig & 7th, Staples Center, Restaurant Row

$1.168M

Courtesy of KW Executive - Silvia Cheung

416 S. Spring #810

1 bed, 1 bath 1 parking space, charming former residence of Charlie Chaplin

Mills Act Building

Walk to Grand Central Market, The Broad, Little Tokyo, Arts District, Gallery Row, Spring Arcade

$519K

Figure8Realty - Nicole Kilmer

530 Molino #211

1 bed, 1 bath 2 parking spaces, massive loft over 3000sf

Walk to Soho House, Arts District Shops, Bestia, Bavel, Girl & Goat

$2.1M

Iota Realty - Jonathan Yuen

738 S. Los Angeles St #203

2 bed, 1 bath 1 parking space, massive private patio

Mills Act Building

Walk to Proper and Ace Hotels, Fashion District shops, Flower Market, Whole Foods

$545K

Roxana Godinez, Loftway

1130 S. Flower #102

2 bed, 2 bath 2 parking spaces, Massive patio and split level orientation

Walk to Staples Center, The Bloc, Fashion District, Whole Foods, Financial District

$998K

Lotus - Chi Lieu

Fantastic Deals in DTLA Right Now

Price/sf wise, you can't get better when the surrounding areas are easily over $1000/sf. You can get built-in equity with these prices. Investors, you especially should be looking into these move-in ready places that are beckoning renters!

Elleven #614 - SOUTH PARK
1+1+1pkg - 960SF
$565K or $588/SF
Immaculate 1 bedroom condo with a huge in-unit storage room with laundry. Features east-facing views and overlooks Grand Ave and the South Park Commons Park. LEED Certified Building. 
Coldwell Banker

Flower Street Loft #202 - SOUTH PARK

1+2+2pkg - 1188SF

$639K or $537/SF

Fantastic north-facing, private unit with no neighbors in front. Has 2 parking spaces! Located just a couple blocks from Crypto.com Arena, Whole Foods, The Bloc, Hoxton, Proper, and more.

Douglas Elliman

Cornell Loft #304 - FASHION DISTRICT

1+1+1pkg - 960SF

$525K or $546/SF

Massive windows, concrete flooring and walls for sound insulation, and Mills Act status for up to 70% off property taxes! Steps to Sonoratown, Rossoblu, Cognoscenti, Whole Foods, Holy Basil, Wood Spoon, Lala's, Verve Coffee and more.

Keller Williams

Vero #412 - CITY WEST

3+3+2pkg - 1470SF

$879K or $597/SF

Immaculate and rare 3 bed 3 bath condo with a balcony! Includes 2 parking spaces and stunning amenities. Steps to Fig &7th, Target, Restaurant Row, Financial District, etc.

Wilshire Metro

Luxury Condos Are Moving in DTLA

Barker Block #146 - PENDING - $1.599M

Keller Williams

 940 E. 2nd #1 - SOLD - $2.099M

Tempo

Biscuit Loft #712 - SOLD - $2.35M

Coldwell Banker

Eastern Columbia #311 - SOLD - $1.65M

Coldwell Banker

EVO #2301 - PENDING - $2.395M

Douglas Elliman

Luma #1315-1316 - SOLD - $3M

Compass

Ritz-Carlton #30A - SOLD - $1.7M

Keller Williams

Ritz-Carlton #50F - SOLD - $5M

Homesmart

Building Highlight - Elleven Condos

Situated on the corner of Grand Ave and 11th St, the Elleven Condos was the first LEED Certified residential building in DTLA! The immaculately kept building has maintained its luxury status with a first class staff, 24/7 concierge-like front desk services, onsite manager 5 days per week, onsite engineer, and amenities such as a south-facing pool deck with hot tub, and garden deck with lush foliage, fireplace, lounge areas, Viking BBQ Grills, and fountain. 

Featured units below:

Elleven #614 - 960sf - 1+1

East facing with views of Grand Ave, South Park Commons, and tree tops. Has a built-in wall partition separating bedroom area, a huge laundry and storage room, glass shower doors. 1 Parking space with Asking $565k 

Coldwell Banker

Elleven #PH5 - 3150sf - 3+2.5

Northwest with views of the DTLA skyline. Has a spacious corner balcony for indoor/outdoor entertaining, grand open plan living areas, rare double entry doors, 2 rare storage units, 2 side by side parking spaces.

Asking $3.795M 

WEA

Supporting the Small Businesses of DTLA, Especially Restaurants

While recovery is slowly happening, many small businesses all over especially DTLA, have suffered not only due to the the lockdowns but due to last year's protests. Help support by opting to dine at the smaller establishments, buy gifts from places like the Flower Mart and the Fashion District or Row DTLA.

Some of my faves:

1. Grand Central Market (Historic Core)

https://www.grandcentralmarket.com/. 

2. Flower Mart (Fashion District)

http://originallaflowermarket.com/

3. Raw Materials Art Supplies (Fashion District)

https://fashiondistrict.org/go/raw-materials-art-supplies

4. Birdies (South Park)

http://birdiesla.com/

5. Badmaash (Historic Core)

https://www.badmaashla.com/

6. Factory Kitchen (Arts District)

https://thefactorykitchen.com/

7. Throw Clay Pottery & Studio (South Park)

https://www.throwclayla.com/classes-1

8. Howlin Rays (Chinatown)

https://howlinrays.com/

9. Bohemian Crystal Beads Factory (Fashion District)

https://beadsfactory.com/bohemian-crystal-rhinestone.html

10. Maccheroni Republic (Historic Core)

https://maccheronirepublic.com/

11. Marugame Monzo (Little Tokyo)

https://marugamemonzola.com/

12. Broken Mouth (Fashion District)

https://www.eatbrokenmouth.com/

13. Le Box Blanc (South Park)

https://www.leboxblanc.com/

14. Redbird (Historic Core)

https://redbird.la/

15. Dylan Lex (@Row DTLA - Produce District)

https://rowdtla.com/collective/dylanlex

16. Frame Pizzeria (South Park)

https://www.framepizzeria.com/

17. 10e (Financial District)

http://www.10erestaurant.com/

18. Sonoratown (Fashion District)

https://www.sonoratown.com/about.html

19. Prank (South Park)

https://prankbar.com/

20. Dylan Lex (@Row DTLA - Produce District)

https://rowdtla.com/collective/dylanlex

Amazing Price on a 2 Bed, 2 Bath Split Level Corner Penthouse Unit in South Park

Rare Corner Penthouse Unit at the luxury 717 Olympic building in the heart of it all. The unit features amazing views from just about every room and bathroom. Spacious upstairs main bedroom with double walk in closets, a spacious ensuite bathroom with separate shower and soaking tub. he bedroom opens onto a beautiful landing that's perfect for an office space or sitting area, and further along is a private terrace that looks out onto the rest of the views beyond. The second bedroom or guest suite is downstairs, complete with two closets as well. An ample laundry room offers extra storage, and an open plan kitchen and living area complete this spectacular home. The building offer 24/7 concierge services, valet parking, plunge pool, fitness center, business center, wine storage, indoor and outdoor lounges, fire pit, outdoor terraces, media room and more.

Asking $8298/mo

What $1Million Buys you in DTLA

For about $1 Million:

Photo: TEN50 Trumark; U-Click

Building: TEN50 

Neighborhood: South Park

Floor Level of Unit: 8th

SF: 1140, 2+2 with 2 parking spaces

PRICE: 980k

Loftway

Building: EVO

Neighborhood: South Park

Floor Level of Unit: 21st

SF: 1170, 2+2 with 2 parking spaces

PRICE: 995k

The Agency

Building: Metropolis

Neighborhood: South Park

Floor Level of Unit: 22nd

SF: 843, 1+2 with 1 parking spaces

PRICE: 985k

Pocket Listing Alert - 1 bed + 1.5 bath, 1050sf luxury high rise pad

Bid before it hits the market.

Stunning pad just steps to Staples Center and LA Live, 

Whole Foods, Ralphs, The Bloc, Ace Hotel, etc. Asking $715k. 

Email reinventingdtla@gmail.com for viewings.

Deals in DTLA

With prices averaging about $650/sf in downtown, it's hard to find a "deal" these days. Prices have been increasing since 2009 and are expected to increase a further 3-5% next year. That's unless the interest rates go up then things may finally plateau.

For now, the deals are basically anything under $550/sf. See below:

Flower Street Lofts #115 - 2 bed, 2 bath, 2 parking, 2149sf - $950k (or $442/sf)

Vero Condos #535 - 1 bed, 2 bath, 2 parking, 1120sf- $575k (or $508/sf)

Grand Lofts  #A602 - 2 bed, 2 bath, 2 parking, 1740sf - $920k (or $528/sf)

Elleven  #406 - 1 bed, 2 bath, 2 parking, 1700sf - $910k (or $535/sf)

Eastern Columbia  #M11 - 2 bed, 2 bath, 2 parking, 1830sf - $999k (or $545/sf)

Micro Dip in Downtown + Neighborhood Market Conditions

There's no question it's a seller's market right now in downtown. We're up from 2007 prices, inventory is low, and the area keeps evolving into an exciting destination. We've gone from the low of $300/sf to about $625/sf on average today. And while the prices are pretty stable, there have been some price drops. Bidding wars have slowed down and the units that have been priced in a greedy way have shown price drops. Buyers who've been looking are not having to overbid as much. We don't know how much this micro-dip will last, but in any case, Sellers still hold the power right now because the inventory remains low.

In the near future, South Park will be getting the most condo inventory because of condos like TEN50 and Metropolis coming on the market--and everyone wants the latest and greatest.

Historic Core and Financial Districts remain desirable because of low inventory and lots of business regeneration (The Bloc, Grand Central Market).

Arts District is one of the hottest areas due to low inventory, but there are tons of apartments being developed. Good for condo owners, not as great for investors.

Little Tokyo is still very hot due to the location next to the Arts District and all that River Development.

Fashion District is the next up-and-coming neighborhood. Lots of conversion activity from derelict buildings to live/work lofts, plus the development of THE ROW just a few blocks away is going to be a game changer.

Skid Row adjacent, which is essentially the Little Tokyo Lofts and other artist rental lofts, are benefiting from the Fashion District activity.

Super Lofts Available - 2000sf and Larger

600sf is the new 800sf. What I mean is that new units are getting smaller in scale, and the small 800-900sf 1-bedrooms we used to snicker at are now considered large 1-bedrooms. 1000sf is pretty much consider HUGE. Size is becoming a huge commodity, as land and building costs are rising. Back in 2003-2007, developers were a lot more generous, which is why you often get more square footage for your money in buildings that were either built or converted in that period.

Here are some interesting "super lofts" available for sale now:

1100 Wilshire #3702 - 3000SF - 2 Parking Spaces

$5,950,000

Molino Lofts #213 - 4260SF - 5 Parking Spaces

$1,985,000

  

Barker Block Lofts #102 - 2660SF - 2 Parking Spaces

$1,675,000

Barker Block Lofts #144 - 2460SF - 2 Parking Spaces

$1,795,000

TEN50 PH5 - 2268SF - 2 Parking Spaces

$2,600,000

Flower Street Lofts - 2149SF - 2 Parking Spaces

$969,000

Barker Block Lofts #121 - 2040SF - 2 Parking Spaces

$1,200,000

Luma PH105 - 2001SF - 2 Parking Spaces

$1,995,000

Game Changing Development For Southpark

First it was L.A. live. Then came Evo, Luma, and Elleven that changed the area.  The next significant condo developments to change the area in the next few years and increase values for the surroundings:

1. METROPOLIS - 18-story hotel, 38 story condo, 40 - story condo,  56-story condo with luxury retail space.

2. FIG CENTRAL - 53-story and 38-story towers with luxury condos and the Roberto Cavalli  Hotel.

3. CIRCA - Two 35-story towers with approx 650 luxury apartments for lease.

4. 1020 S. FIGUEROA - 42-story,  650 unit condos and 32-story W Hotel.

5. TEN 50 - 25-stories, 121 boutique style condos.

Currently Available Industrial Lofts in DTLA

Simply put, there are usually two kinds of lofts--industrial and architectural. The architectural ones are generally the conversions from former bank buildings, offices (think Rowan Lofts, Douglas Lofts, Eastern Columbia Lofts) that have a lot of beautiful character intact, both inside and out. The industrial ones are often conversions too, but have generally been adapted from factories, warehouses or showrooms (think Biscuit Company Lofts, Toy Factory, Barker Block, Textile Lofts).

Below are industrial lofts currently available for sale in these unique buildings:

FLOWER STREET LOFTS IN SOUTH PARK (Formerly a UPS Shipping Hub)

Penthouse Loft #416 - 1648sf - $800k

Loft #215 - 1260sf - $750k

Loft #117 - 1483sf - $683k

BARKER BLOCK LOFTS IN THE ARTS DISTRICT (Formerly the Barker Brothers Furniture Factory & Warehouse)

Loft #424 - 1070sf - $849k

Rising Prices in South Park

Just last year, South Park prices were hovering around $580-$640/sf. This year, a 1 bedroom condo at EVO sold for one the highest prices in EVO history at $714/sf. Luma and Elleven prices, along with Grand Lofts and Flower Street Lofts have increased in value. And the prices haven't slowed down largely due to the amazing transformation happening in the immediate neighborhood.

Just to name a few game-changing projects that are underway:

1. Metropolis luxury condos on Franscisco Street
2. Fig Central Condos and Roberto Cavalli Hotel on Figueroa & 11th
3. Ten50 Condos on Grand & 11th
4. Whole Foods Market on 8th & Grand
5. Fig South condos and retail on Figueroa & 12th

DTLA Open Houses This Sunday 4/5

South Park
1111 S. Grand #510 - 1-4pm
1111 S. Grand #708 - 2-5pm

City West
1234 Wilshire Bl. #511 - 2-4pm

Arts District

530 S. Hewitt #450 - 11-2pm

Little Tokyo
420 S. San Pedro #515 - 2-4pm

DTLA Open Houses This Sunday 2/8

South Park
1155 S. Grand Ave #412 - 2-4pm
1155 S. Grand Ave #703 - 1-4pm
1100 Hope St. #510 - 1-4pm
1100 Hope St. #1204 - 1-4pm
645 W. 9th St. #214 - 12-3pm
645 W. 9th St. #208 - 11am-3pm
630 W. 6th St #202 - 12-3pm

Historic Core
416 Spring St #409 - 12-4pm
108 2nd St., #510 - 1-4pm

Arts District
530 S. Hewitt #440 - 1-4pm
510 S. Hewitt #107 - 1-4pm

Little Tokyo
420 S. San Pedro St. #206 - 2-4pm
420 S. San Pedro St. #220 - 1-4pm
420 S. San Pedro St. #529 - 2-4pm
267 S. San Pedro St. #317 - 1-4pm
267 S. San Pedro St. #623 - 1-4pm

City West
1100 Wilshire #2001 - 1-4pm
1100 Wilshire #2702 - 1-4pm
1100 Wilshire #1901 - 2-4pm

Bunker Hill
800 W. 1st St. #2810 - 1-4pm
800 W. 1st St. #2407 - 1-4pm
800 W. 1st St. #1404 - 1-4pm
880 W. 1st St. #319 - 1-4pm

The Ever-Changing South Park Neighborhood

DTLA gets more well-rounded by the year. The majority of DTLA used to be historic buildings with a decent amount of 60s as well as 80s buildings that were developed along the financial district environs. Now there are sleek skyscrapers going up everywhere, and it's hard to keep up. South Park, with its large number of flat ground-level parking lots has undergone the most significant, skyline altering changes in recent years, and with every new building since 2009, the values of resale condos and loft has increased and rents continue to soar. What's fueling all this is the amazing development are projects such as The Ritz Carlton, The Courtyard Marriott, Fig & Central, where the Roberto Cavalli Club is set to be, and Metropolis, the luxury condo and hotel compound that will kickstart an influx of luxury boutiques coming in. It's also what's making South Park one of best investments.

SOLD - Stunning Views for Miles, Huge Private Balcony - EVO #810

This beautiful loft has stunning views towards the west of twinkling lights, LA Live, and downtown. The loft has an open floorplan with a sleek galley kitchen and bar/counter that's great for entertaining, huge floor to ceiling windows that open out to the balcony, a separated bedroom area, oversized bathroom, and even an ample sized laundry and storage room. Located in the beautiful LEED Certified EVO building, amenities include an infinity pool with views from the pool deck, rooftop gym, rooftop lounge, BBQ deck, doorman, front desk concierge, in building parking and more. Located in the heart of South Park where you can walk to The Bloc, Staples Center Fig & 7th, LA Live, Ralphs, Ace Hotel, FIDM and more. Asking $629k. Email me to schedule a viewing.

Courtesy of Yuri Huxley, Town Square Real Estate