A lot of buyers have been waiting on the sidelines to buy once the market tanks in DTLA. Some units are about 5% below 2019 values, and some are even above. I know, 5% isn't low enough, but don't hold your breath. Things are already bouncing back, especially nice units in good buildings. And by nice, I mean upgraded, remodeled, staged, etc. Low inventory is helping prices stay afloat, and with the walkable amenities in DTLA, more buyers who are over the whole car thing are choosing DTLA as their area of choice.
SOUTH PARK
Flower Street Lofts #123
A double-story, 1423sf loft with 2 bathrooms and 2 parking spaces for $439/SF.
Unreal, this is like 2012 prices. Asking $626K.
849 S. Broadway #M7
$785k / 1120sf
Famous for it's iconic clock tower and now the Johnny Depp and Amber Heard Trial, this unit is the lowest price/sf in the building right now at $700/sf. The most recent sale was #806, the same size unit for $865k. Unit #M7 comes with 1 parking space, and the building offers property tax savings with the MILLS ACT. Courtesy of Yuri Huxley, Coldwell Banker Realty.
