Chance to Snatch Up Prime Units in DTLA

While some people are leaving DTLA, there are others who are moving in. Some of the best units in the area are coming out of the woodwork for the first time in years, and savvy buyers are taking advantage. 

Penthouse #506 at Pan American Lofts is in escrow!

Asking: $995k

https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-612502

Courtesy of KW Larchmont

Unit #311 at Eastern Columbia Lofts - First time on market in 10 years!

Asking: $1.84

https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-597232

Courtesy of Coldwell Banker DTLA

Unit #404 at Eastern Columbia Lofts

Asking: $1.345

https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-630320

Courtesy of Campbell Wellman

Unit #119 at Barker Block Lofts - Tri-level loft!

Asking: $1.599

https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-560722

Courtesy of The Agency

Penthouse #1207 at El Dorado Lofts - Double level with rooftop patio

Asking: $1.375

https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-608070

Courtesy of Coldwell Banker

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

Want Over 1300sf of Space? There are Currently A Few Gems Available.

I keep reiterating that things are getting smaller in DTLA. It's a fact that nearly all the new residential development will have studios and "1-bedrooms" starting around 550sf. That sounds small--because it is. Even the converted historic spaces are getting smaller as land and construction costs are going up, so developers are chopping up the units. Their bottom line is to get as many livable units onto a floor as building codes will allow.

That said, things that are close to 1000sf will become more desirable. An 800sf 1-bedroom is being considered ample now. And anything over 1200+sf is considered spacious. Currently available "oversized" lofts in unique buildings:

Douglas Penthouse #MN

Corner unit, Skylight, rare 2 parking spaces, Mills Act

2100sf, Asking $2.1MM

Little Tokyo Loft #106

End unit, Skylight, 2 parking spaces, Private Outdoor Space, 2 Levels

1800sf, Asking $1.058MM 

Tomahawk Loft #6

Entire Floor Unit (Street to Street), Private Elevator Stop

1640sf, Asking $1.049MM 

Barker Block #443

City Views, Original Rafter Ceilings

1510sf, Asking $995k

Flower Street Lofts #118

2 Levels, 2 Parking Spaces

1420sf, Asking $699k

940 E. 2nd #8

3 Levels, Private Rooftop Deck, Skylight

1330sf, Asking $879k

More Activity in the Arts District - Barker Block & Biscuit Lofts

DTLA Arts District has become one of the most valuable areas in which to invest. Prices have been steadily rising, and it's no wonder with developments of theaters, galleries, shops, restaurants, GROW market, upcoming SOHO House, Garey Lofts, @Mateo, revitalization of the Coca Cola Building, etc.

Three new lofts available for sale:

Barker Block #542 - 1110sf - 849k

Russell Roney, KW

Barker Block #424 - 1070sf - 750k

Ted Trentman, Realty Source

Biscuit Lofts #114 - 980sf - $748k

Gil Saraf, KW

Split Level Penthouse Warehouse Loft - Barker Block #525

Hard to expect much more from this loft. Great views, privacy, and top floor location, skylight, lofted bedroom, super tall ceilings, 2 bathrooms, parking, etc. Plus it a live/work loft in the Barker Block building, the darling of the Arts District. Developed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. Walk to Black Top Coffee, Zinc Cafe, Bestia, Church & State, Bread Lounge, Stumptown Coffee, Wurstkuche and more. The stunning loft features original wood beams, beautiful wood floors and sleek kitchen. Includes one assigned parking space. 1230sf. Listed at $999k. 

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

Historic Lofts for Sale with Good Resale Potential

It's one thing to get a deal on a property; it's also another thing to make sure the property has good resale value for when you decide to one day sell. Size, orientation and location are things that are often uncompromisable when it comes to resale.

Some interesting props below with good resale potential:

Toy Factory Loft in the Arts District #515

1428sf

Asking $819k

Stamie Karakasidis, Rodeo Realty

  Barker Block Lofts in the Arts District #450

1120sf

Asking $649k

Neil McDermott, Hilton & Hyland

Rowan Lofts in the Historic Core #712

2 beds, 2 baths 998sf

Asking $649k *Mills Act Building*

Anh Tran, KW

Rowan Lofts in the Historic Core #915

1 bed, 1 baths 820sf

Asking $620k *Mills Act Building*

Agnes Ferreyra, JAG

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

Currently Available DTLA Properties Over 1500sf in Size

The fact is, developers are chopping up units like never before. Many of the upcoming new condos and conversions will be a higher price per sf (and more compact) than things were in 10 years ago. If you own a loft that's 1500sf or more, then hold on to it. As price per sf increases, you'll be sitting pretty. 1500+sf properties available now in DTLA:


Barker Block Loft #335 - 1620sf - $935k

EVO #613 - 1820sf - $1.195MM
EVO #1909 - 2400sf - $1.795MM
EVO #2303 - 3973sf - $3.4MM

Luma #701 - 1628sf - $1.299MM
Luma #402 - 1770sf - $1.175MM

Market Lofts #212 - 1583sf - $875k

Molino Loft #215 - 2657sf - $1.0888MM
Molino Loft #306 - 1810sf - $935k

Ritz Carlton #41B - 1980sf - $2.438955MM
Ritz Carlton #45E - 3170sf - $2.95MM
Ritz Carlton #50E - 2370sf - $3.25MM

Toy Warehouse #6 -  1778sf - $850k

1100 Wilshire #2702 - $1600sf -  $1.195MM

SOLD ABOVE ASKING - Top Floor, Balcony, Nice Views - Barker Block #540

Hard to expect much more from this loft. It's got a lot going for it--private balcony, great views, privacy, and top floor location. Plus it a live/work loft in the Barker Block building, the darling of the Arts District. And it's the lowest priced Barker Block unit in a while. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. The stunning loft features original wood beams, beautiful polished concrete floors and sleek kitchen. Includes one assigned parking space. Listed at $550k. 

SOLD - Post and Beam Warehouse Loft - Barker Block #335

True live/work loft for lease in the Barker Block building with over 1600sf of living space. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. The stunning oversized loft features original wood beams, beautiful hardwood floors, and numerous upgrades. Includes one assigned parking space. Listed at $935k. 

SOLD - Upgraded Industrial Loft in Arts District - Barker Block #242

True live/work loft in the Barker Block building with an unusual wide floorplan featuring 1090sf of living space and appliances by Miele. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. Walk to Arts District Flea, Little Tokyo, Wurstkuche, Piehole, SciARC, Bestia, Church & State, Daily Dose, and more The stunning loft has 1 bathroom1 and 1 assigned parking space. Listed at $649,000. 

SOLD - Penthouse Loft with Sunset Views to the West - Barker Block #505

True live/work penthouse loft in the Barker Block building with views of beautiful sunsets. This west facing loft features 1310 sf of living space, making it one of the more spacious lofts in the building. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. The stunning loft has beautiful polished concrete floors, 1 bathroom1 and 1 assigned parking spaces. Listed at $799,000. 

SOLD - Immaculate Open Plan Industrial Loft - Barker Block #246

True live/work loft for lease in the Barker Block building. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition breezeway. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. The open floorplan loft features a mix of concrete walls, dark hardwood floors exposed wood beams, open space kitchen and living area. Listed at $565k for 980 sf of livable, workable space. Includes 1 assigned parking space. Walk to Stumptown, Urth, Zinc, Blue Bottle, Wurstkuche, Little Tokyo, Pie Hole, Bestia, Church & State, Little Bear and more.

SOLD - Windows Windows Windows - Barker Block #455

Nearly 40 feet of windows in this lovely, spacious loft facing south in the live/work Barker Block building. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. This loft features 1140 sf of space and upgraded finishes throughout and 2 bathrooms, a rarity for this floorplan. Listed at $695,000. Walkable businesses include Bestia, Stumptown Coffee, Wurstkuche, Urban Radish, Zinc, and many. Includes 1 assigned parking space.

SOLD - Arts District Loft with Skyline Views - Barker Block #413

True live/work loft for sale in the Barker Block building. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. This warehouse loft is located on the northern end of Barker Block, and features more than 1300 sf of space and upgraded finishes throughout. Beautiful skyline views of downtown from the oversized windows. Listed at $795,000 for 1310 sf of livable, workable space. Walkable businesses include Bestia, Stumptown Coffee, Wurstkuche, Urban Radish, Zinc, and many. Includes 1 assigned parking space.

Spacious Arts District Industrial Loft with Luxe Touches - Barker Block #333

True live/work loft for sale in the Barker Block building. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. The spacious warehouse loft features more than 1700 sf of space and upgraded finishes and hardware throughout. Huge original wood post and beams, white oak wood floors, 2 bedroom or office areas, open space kitchen and living area. Listed at $1,050,000 for 1720 sf of livable, workable space. Walkable businesses include Bestia, Stumptown Coffee, Wurstkuche, Urban Radish, Zinc, and many. Includes 2 assigned parking spaces.

SOLD OVER ASKING - Spacious Split Level Loft with Private Patio - Barker Block #126

True live/work corner loft in the Barker Block building with 2350sf of living space, making it one of the most spacious lofts in the building. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. The stunning oversized loft features a unique split level floorplan and a private patio. Has original wood beams, beautiful hardwood floors, 2 bathrooms and 2 assigned parking spaces. Listed at $1.179MM. 

SOLD - Huge Live/Work Corner Warehouse Loft - Barker Block #256

True live/work corner loft in the Barker Block building with 1660sf of living space. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. The stunning oversized loft features original wood beams, beautiful hardwood floors, and fantastic Southwest views, 2 bathrooms and 2 assigned parking spaces. Listed at $968k. 

SOLD - Live/Work Pied a Terre in Arts District - Barker Block #554

True live/work loft for lease in the Barker Block building with 740sf of living space. Designed by The KOR Group, the building boasts a lovely rooftop pool and gym--both with views for miles, courtyard areas and an art exhibition tunnel. Plus it's directly across the street from Urth Cafe, perfect for that morning coffee run. The open plan loft features original wood beams, beautiful hardwood floors, and easterly views for miles. Includes one assigned parking space. Listed at $554k.