Small Survey of Buyers in DTLA - Cities Still Rule

Here's a question I recently posed to several buyers, renters, and current clients of mine. "If there was NO pandemic, and money was no object and you could live in any city in the world, where would you live?" Nearly everyone named NYC, Paris and LA as their choices. This was so interesting and uplifting to hear. Because despite the media bashing cities, in a perfect world, many people want to be living in a nice pad in a big city where there are things like museums, easy transit, restaurants, bars, art galleries, independent shops, and walkability. 

While suburbs are nice, let's face it, you're still outside of the circle of these amazing amenities that cities have to offer. And while remote working is here to stay, the office space in some form will still exist as an option for many companies, and I don't know about you, but there's a growing number of people who are starting to really hate Zoom calls 6-8 hours a day. 

Interesting article about history repeating itself. Market slows, and buyers scoop up at a discount. In this case, Silverstein Properties from NYC is betting on DTLA:

http://www.silversteinproperties.com/commercial-real-estate-media/News/silverstein-properties-acquires-us-bank-tower

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.