Upload
dodung
View
215
Download
1
Embed Size (px)
Citation preview
ContentsNew ConstructionSold OutPipeline SummaryDisclaimer
Notes1) New Construction developments are either actively selling for the first time or a rental development that has been converted to for sale and is now actively selling. Most recent closings include the last 10 reported closings that have price and square footage included.
2) Sold Out developments have completed their original sales process and are now being tracked for resales. Most recent closings include the last 10 reported closings that have price and square footage included. The list may include both new and resale closings as noted.
3) This report covers new construction developments with 20+ market rate units and selected resale developments with 50+ market rate units located in Downtown Los Angeles and along the Golden Mile.
4) Assume that developments in the New Construction section are actively selling units unless noted otherwise. In addition, list prices and number of units available are based on the month of the report and closings are based on what has been recorded to date. Please note that closings can take 30-60 days to be recorded.
5) Date On Market refers to the date the Sales Center opened. 6) Average Absorption is calculated from Date On Market through the date of the report. It accounts for units both in contract and closed.
7) Average Price/SF is calculated using only units where both square footage and price are known. Average Price/SF is defined as the average price divided by the average square footage. Averages are weighted averages.
8) Developments are considered Sold Out once the last Market Rate unit has closed OR there have been three months without a closing, all units are in contract and the Sales Center is closed (e.g. there is no active marketing). 9) Below Market Rate units are omitted from new construction and resale closings whenever possible.
Monthly Reports - Los Angeles - March 2017
New ConstructionThe following section contains sales information and updates for actively selling developments with 20+ market rate units located in the downtown Los Angeles, Hollywood and West Los Angeles Luxury areas.
Project List*Downtown Los AngelesMetropolisTen50
Hollywood & West Hollywoodn/a
West Los Angeles LuxuryBeverly West
KoreatownElement 436
* Each section sorted in alphabetical order
Monthly Reports - Los Angeles - March 2017
Metropolis (Phase I and II)Located in downtown Los Angeles, Metropolis will offer a collection of studio, one-, two- and three-bedroom condominium residences with stunning views of the Downtown skyline, Pacific Ocean and Hollywood Hills. The site is conveniently located two blocks from L.A. LIVE, giving residents easy access to world-class dining, shopping, sports and entertainment options. The site will also include a Hotel Indigo with 350 rooms and retail space.
Closings in Tower I are expected to commence is late 2016 but have been delayed. Closings in Tower II are expected to commence in 2018.
Available list prices as of March 2017:
StudioStarting List Price: $718,312 - $763,640Average Size: 511 - 526 SFStarting List Price/SF: $1,406 - $1,452
One BedroomStarting List Price: $974,580 - $1,363,080Average Size: 760 - 1,053 SFStarting List Price/SF: $1,282 - $1294
Two BedroomStarting List Price: $1,320,000 - $1,385,000Average Size: 1,182 - 1,365 SFStarting List Price/SF: $1,015 - $1,117
Two Bedroom PenthouseStarting List Price: $1,507,380 - $2,252,000Average Size: 1,431 - 1,489 SFStarting List Price/SF: $1,053 - $1,437
Monthly Reports - Los Angeles - March 2017
New ConstructionAddresses831-899 Francisco Street877-889 Francisco Street
Total Units824 (Phase I and II)
Date on MarketSeptember 2014
Closings CommencedTBD
DevelopersShanghai Greenland Group;CALPERS
Average HOA Fees$659 to $1,284/month
Average Absorption14 units/month
Projected Price/SF$1,100
Sales Status
0 closed 414 in contract 410 available
Ten50Located at the corner of South Grand Avenue and 11th Street, Ten50 is the first new condominium offering to hit the downtown Los Angeles market in 2014. Finishes include Carrara marble countertops, Domus & Domus Italian cabinetry and appliances by Bosch, Liebherr and Bertazzoni. Residents will enjoy access to amenities that include a pool, fitness center, landscaped courtyard, rooftop terrace and drone landing pad.
Available list prices as of March 2017:
One BedroomStarting List Price: $680,000 to mid $800,000sAverage Size: 686 - 795 SF
One Bedroom + DenStarting List Price: $739,000 to $960,000+Average Size: 883 - 895 SF
Two BedroomStarting List Price: $1,029,000 to $1,472,000Average Size: 1,073 - 1,356 SF
Two Bedroom+ PenthouseStarting List Price: $2,600,000Average Size: 2,268 SF
Monthly Reports - Los Angeles - March 2017
New ConstructionAddress1050 South Grand Street
Total Units151
Date on MarketFebruary 2016
Closings CommencedFebruary 2017
DeveloperTrumark Urban
Average HOA Fees$550 - $700+/month
Average Absorption7 units/month
Projected Price/SF$811 (10 units)
Sales Status
17 closed 77 in contract 56 available
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
804 2/2 1,062 $906,500 $854 2/23/2017
1008 1/1 898 $768,500 $856 2/28/2017
1003 2/2 1,144 $945,000 $826 2/24/2017
1005 1/1 686 $569,000 $829 2/24/2017
1107 1/1 889 $720,000 $810 2/24/2017
809 2/2 1,359 $1,000,000 $736 2/24/2017
907 1/1 889 $695,000 $782 2/24/2017
906 1/1 705 $574,000 $814 2/22/2017
1010 2/2 1,353 $1,087,000 $803 2/21/2017
1105 1/1 686 $579,000 $844 2/21/2017
Averages: 967 $784,400 $811
Beverly WestBeverly West is located next to the Los Angeles Country Club and within a mile of Beverly Hills. The project’s 35 generously-sized homes average 4,100 square feet in size. Most of the floors are shared by two residences and there are six floors with only one home per floor. Kitchens feature Neff cabinetry and commercial-grade appliances.
The project was originally developed by FiField Companies and called 1200 Club View. It was purchased by Emaar LA Properties in summer 2008 and put back on the market in November 2008.
Homes can be purchased built out or as shells.
Available list prices as of March 2017:
Two BedroomStarting List Price: $3,540,000 - $3,773,920Average Size: 1,709 SF - 1,830 SFStarting List Price/SF: $2,062 - $2,071
Three BedroomStarting List Price: $7,326,000 - $12,151,000Average Size: 3,858 SF - 4,158 SFStarting List Price/SF: $1,899 - $2,922
Four Bedroom PenthouseStarting List Price: $24,150,000+
Monthly Reports - Los Angeles - March 2017
New ConstructionAddress1200 Club View Drive
Total Units35
Date on MarketNovember 2008
Closings CommencedMarch 2012
OwnerEmaar LA Properties
Average HOA Fees$4,500 - $5,000/month
Average Absorption<1 unit/month
Last Six Months Price/SFn/a
Sales Status
14 closed 0 in contract 21 available
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF Closed Date
20 3/4 4,020 $5,581,500 $1,388 12/22/2015
16N 3/4 3,690 $7,900,000 $2,141 12/1/2015
31 2/2 1,740 $1,466,000 $843 6/26/2015
9 3/4 3,690 $5,554,500 $1,505 2/5/2015
13 4/3 3,690 $6,200,000 $1,680 12/11/2014
28 3/4 4,020 $3,710,000 $923 11/12/2014
12 2/2.5 3,813 $6,218,000 $1,631 7/11/2014
14/15 6/8 7,710 $13,200,000 $1,712 7/9/2014
17 3/4 3,690 $5,210,000 $1,412 7/9/2014
6/7 6/8 7,710 $10,945,000 $1,420 5/28/2014
Averages: 4,377 $6,598,500 $1,507
Element 436Element 436 offers new condominium homes in Koreatown. Residents enjoy a walkable lifestyle and the convenience of the nearby Metrolink to world-class arts and entertainment, five star dining, unique markets, retail and a vibrant active nightlife. Finishes include hardwood flooring, quartz countertops and stainless steel appliances. Available homes are priced from $601,295 - $860,000+.
Monthly Reports - Los Angeles - March 2017
New ConstructionAddress436 S. Virgil Avenue
Total Units74
Date on MarketAugust 2016
Closings CommencedOctober 2016
DeveloperSchaffel Development Company
Average HOA Fees$399/month
Average Absorption5 units/month
Last Six Months Price/SF$599 (10 units)
Sales Status
10 closed 23 in contract 41 available
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF Closed Date
PH3 2/2 1,047 $679,000 $649 2/7/2017
301 2/2 1,164 $680,000 $584 10/31/2016
211 2/2 1,013 $548,000 $541 10/28/2016
PH4 2/2 1,042 $652,166 $626 10/28/2016
PH12 2/2 1,010 $670,000 $663 10/27/2016
212 2/2 1,010 $549,150 $544 10/24/2016
202 2/2 1,040 $595,000 $572 10/14/2016
303 2/2 1,047 $610,000 $583 10/14/2016
403 2/2 1,047 $625,000 $597 10/14/2016
PH2 2/2 1,040 $658,800 $633 10/14/2016
Averages: 1,046 $626,712 $599
Sold OutThe following section contains selected sold out developments located in downtown Los Angeles.
Project ListAdaptive Re-UseBarker BlockBarker Block Warehouse No. 1Biscuit Company LoftsEastern Columbia LoftsRowan LoftsSantee Village
TowersEllevenEvoLumaMarket LoftsSky LoftsThe Ritz-Carlton Residences at L.A. LIVE
Monthly Reports - Los Angeles - March 2017
Barker BlockStretching an entire block in downtown Los Angeles’ Arts District, Barker Block encompasses seven former industrial buildings transformed into modern loft homes. Designed to incorporate gallery areas, spacious floor plans and mezzanine levels, the homes feature stylish finishes and plenty of room for work and relaxation. Urth Caffe, one of Los Angeles’ most popular organic coffee houses, occupies the retail space.
Monthly Reports - Los Angeles - March 2017
Sold OutAddress513 South Hewitt Street
Total Units242
Date on MarketDecember 2006
Closings CommencedAugust 2007
DeveloperThe Kor Group
Average HOA Fees$500/month
Sold Out2011
Last Six Months Price/SF$667 (4 units)
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
528 1/2 1,500 $925,000 $617 11/15/2016 Resale
411 1/1 1,310 $895,000 $683 10/21/2016 Resale
409 1/1 1,310 $880,000 $672 9/27/2016 Resale
144 2/2 2,460 $1,635,000 $665 8/31/2016 Resale
121 2/2 2,040 $1,265,000 $620 7/1/2016 Resale
338 1/1 1,030 $675,000 $655 4/29/2016 Resale
443 1/1 1,510 $950,000 $629 3/4/2016 Resale
414 0/1 880 $590,000 $670 1/25/2016 Resale
424 1/1 1070 $660,000 $617 12/11/2015 Resale
537 1/1 1360 $865,000 $636 12/7/2015 Resale
Averages: 1,447 $934,000 $645
Barker Block Warehouse No. 1As Phase II of Barker Block, the Arts District development features 68 lofts housed in a reinvented 20th century factory and warehouse. Floor plans range in size from 675 to over 2,000 SF and feature open living spaces and designer finishes. Features include concrete or wood flooring, energy-efficient appliances, quartz countertops, custom wood cabinetry and Jenn-Air stainless steel appliances and Nest programmable WiFi thermostats.
Amenities include a landscaped resort-style rooftop deck with pool, spa, private cabanas and an outdoor fireplace. Residences also enjoy a private fitness center, open-air courtyard, 24/7 security, lobby, controlled access and onsite Warehouse No. 1 Gallery. Urth Caffe, one of Los Angeles’ most popular organic coffee houses, occupiesthe retail space.
Sold OutAddress527 Molino Street
Total Units68
Date on MarketJanuary 2014
Closings CommencedMarch 2014
DevelopersCityView; Blackstone
Average HOA Fees$364 - $520/month
Sold Out2014
Last Six Months Price/SF$692 (2 units)
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
221 1/1 820 $660,000 $805 12/1/2016 Resale
201 1/1 1,261 $780,000 $619 10/25/2016 Resale
117 1/1 910 $719,000 $790 5/11/2016 Resale
123 1/1 860 $680,000 $791 4/12/2015 Resale
102 1/1 1,040 $685,000 $659 2/26/2016 Resale
110 0/2 1,291 $812,538 $629 9/3/2014 New
210 0/1 945 $586,000 $620 8/28/2014 New
306 0/1 1,070 $618,000 $578 8/21/2014 New
211 0/1 925 $595,000 $643 8/19/2014 New
310 0/1 1,036 $600,000 $579 8/19/2014 New
Averages: 1,016 $673,554 $663
Monthly Reports - Los Angeles - March 2017
Biscuit Company LoftsOriginally the site of the National Biscuit Company, thisindustrial-to-loft conversion offers one-, two-, three- andfour-story floor plans. The building façade features brickcladding complemented with terra cotta ornamentation.
Preserved and restored from the original building, the Biscuit Company Lofts boast one-inch thick maple hardwood flooring throughout the building. The homes feature exposed interior brick walls, steelclad columns, oversized bronze windows and 13- to 30-foot ceilings. Community amenities include a pool, garden and doorman. The largest penthousehome is spread over four stories and offers over 6,000square feet of indoor and outdoor living space. Thepenthouse is composed of steel, stone and glass andcontrasts with the brick façade that defines the rest ofthe building.
The lofts provide easy access to downtown Los Angelesand are within close proximity to City Hall, the SouthernCalifornia Institute of Architecture and Little Tokyo. Thedevelopment is Mills Act approved, which allowshomeowners in this historic building to pay lowerproperty taxes.
Monthly Reports - Los Angeles - March 2017
Sold OutAddress1850 Industrial Street
Total Units104
Date on MarketMay 2006
Closings Commenced2006
DeveloperLinear City, LLC
Average HOA Fees$500/month
Sold Out2010
Last Six Months Price/SF$700 (2 units)
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
515 0/1 1,052 $740,000 $713 11/10/2016 Resale
112 1/1 1,910 $1,333,333 $698 11/9/2016 Resale
210 1/1 975 $695,000 $713 7/20/2016 Resale
204 1/2 1,189 $915,000 $770 7/7/2016 Resale
102 2/3 2,610 $1,965,000 $753 6/17/2016 Resale
209 1/1 839 $715,000 $852 5/27/2016 Resale
411 1/2 1670 $1,270,000 $760 5/27/2016 Resale
712 0/2 1553 $850000 $1,191 5/25/2016 Resale
110 1/1 1110 $765,000 $689 5/10/2016 Resale
402 1/1 617 $525,000 $851 11/4/2015 Resale
Averages: 1,353 $1,077,333 $797
Eastern Columbia LoftsThe Eastern Columbia Building opened in 1930 as home to the Eastern Columbia Outfitting Company. Once a historic showplace for fashion and furnishings, the building’sexterior is one of Los Angeles’ finest examples of the Art Deco era with its zigzag modern style, clad in turquoise terra cotta and gold leaf.
The gourmet kitchens boast stainless steel Amana appliances, black granite counters, pendant and insetlighting and architectural and period-inspired hardware ceilings, polished concrete floors with hardwood upgrades. Buyers were also able to select Kelly Wearstler Interior Design (KWID) packages with paint and wall covering options, mobile screens and bookshelves.
Monthly Reports - Los Angeles - March 2017
Sold OutAddress849 South Broadway
Total Units147
Date on MarketSeptember 2005
Closings Commenced2007
DeveloperThe Kor Group
Average HOA Fees~$640/month
Sold Out2008
Last Six Months Price/SF$697 (4 units)
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
804 1/2 1,610 $1,130,000 $702 1/27/2017 Resale
305 0/1 890 $610,000 $685 12/27/2016 Resale
505 1/2 890 $605,000 $680 11/14/2016 Resale
1108 0/1 1,030 $735,000 $714 11/10/2016 Resale
1212 1/2 2,010 $2,500,000 $1,244 9/30/2016 Resale
606 1/1 1,120 $755,000 $674 9/24/2016 Resale
511 2/2 1,749 $1,224,000 $703 8/19/2016 Resale
M8 1/2 1,600 $867,500 $542 5/31/2016 Resale
M3 0/1 900 $630,000 $700 3/29/2016 Resale
1209 0/1 1,290 $950,000 $736 3/15/2016 Resale
Averages: 1,308 $1,000,650 $765
Rowan LoftsOriginally built in 1912 by John Parkinson, the designer of Los Angeles City Hall and the Pacific Stock Exchange, this Beaux Arts-style building now houses 206 lofts and live/work homes.
Killefer Flammang Architects restored and preserved the building’s façade, its nickel-and silver-adorned elevator doors, as well as its marble-clad lobby, hallways and stairways. The homes include Italian kitchen cabinets with soft-close doors, glass paneled interior doors, hardwood floors, granite countertops, exposed brick interior walls and Toto bathroom fixtures.
Amenities include 24-hour security and conciergeservice, a community kitchen lounge and fitness center. Along the interior perimeter of the building, secluded from the streetscape, is a private landscaped area that features a lawn, oversized trees, bamboo garden, a dog run, built-in barbeques and outdoor fountains.
Monthly Reports - Los Angeles - March 2017
Sold OutAddress460 South Spring Street
Total Units206
Date on MarketAugust 2006
Closings Commenced2007
DeveloperDowntown Properties
Average HOA Fees$340+/month
Sold Out2012
Last Six Months Price/SF$691 (6 units)
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
211 1/1 1,026 $650,000 $634 1/11/2017 Resale
1117 1/1 830 $625,000 $753 12/30/2016 Resale
510 1/1 810 $545,000 $673 12/29/2016 Resale
608 0/1 544 $405,000 $744 12/6/2016 Resale
104 2/2 1,364 $912,500 $669 11/10/2016 Resale
1113 2/2 980 $700,000 $714 11/8/2016 Resale
210 1/1 1,314 $699,900 $533 10/3/2016 Resale
1212 1/2 998 $745,000 $746 9/17/2016 Resale
808 1/1 510 $400,000 $784 8/10/2016 Resale
717 1/1 830 $600,000 $723 7/25/2016 Resale
Averages: 921 $628,240 $682
Santee VillageSantee Village Lofts consists of three residentialbuildings in downtown Los Angeles’ Fashion District called The Cornell, The Santee and The Eckhardt. All of thebuildings were former textile factories built between 1912 and 1924. Santee Village contains affordable and market-rate housing.
The lofts feature up to 12-foot ceilings, oversized industrial windows, exposed spiral ducting, concrete columns, Italian-style kitchen cabinetry, polished concrete floors, stainless steel Bosch appliances, granite countertops and six-foot bathtubs. Select lofts feature private balconies.
Community amenities include barbeque areas, a pool, three spas, lounging areas, a basketball court, fitness center and a mini driving range with a putting green. Ground floor retail space includes a drugstore, liquor store, eclectic array of cafes and take-out restaurants and a block-long, landscaped central courtyard.
Monthly Reports - Los Angeles - March 2017
Sold OutAddresses738 & 746 S. Los Angeles Street; 743 Santee Street
Total Units216
Date on Market2007
Closings CommencedOctober 2007
OwnerKennedy Wilson
Average HOA Fees$567 - $595/month
Sold Out2012
Last Six Months Price/SFn/a
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
1105 1/1 1,060 $688,000 $649 2/10/2016 Resale
502 1/1 740 $411,000 $555 1/14/2016 Resale
807 1/1 650 $399,000 $614 8/27/2015 Resale
303 1/1 770 $335,000 $435 6/10/2015 Resale
405 1/1 1,050 $595,000 $567 5/13/2015 Resale
905 1/1 1,050 $620,000 $590 4/4/2015 Resale
602 1/1 740 $349,000 $472 10/2/2014 Resale
608 0/1 650 $340,000 $523 5/12/2014 Resale
708 0/1 650 $320,000 $492 5/1/2014 Resale
803 0/1 770 $353,000 $458 4/11/2014 Resale
Averages: 813 $441,000 $542
EllevenCompleted in 2006, Elleven was the first residential high-rise building built in downtown Los Angeles in over two decades. As part of the South neighborhood, the 13-story building features sustainable design and ground-floor retail space. Elleven was later joined by Luma and Evo.
Monthly Reports - Los Angeles - March 2017
Sold OutAddress1111 South Grand Avenue
Total Units176
Date on MarketJanuary 2006
Closings CommencedApril 2006
DeveloperThe South Group
Average HOA FeesUnknown
Sold Out2006
Last Six Months Price/SF$652 (2 units)
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
1009 2/2 1,620 $1,190,000 $735 11/4/2016 Resale
1016 1/2 1,200 $650,000 $542 11/4/2016 Resale
908 1/1 1,040 $605,000 $582 9/16/2016 Resale
610 1/1 840 $588,000 $700 9/15/2016 Resale
506 1/1 1,100 $587,500 $534 8/22/2016 Resale
406 1/2 1,700 $910,000 $535 7/28/2016 Resale
1102 1/1 1,100 $591,000 $537 7/5/2016 Resale
816 1/2 1,200 $634,250 $529 6/8/2016 Resale
1004 1/1 1,090 $595,000 $546 5/11/2016 Resale
1009 2/2 1,620 $1,200,000 $741 5/3/2016 Resale
Averages: 1,251 $755,075 $604
EvoWith its façade of sculpted glass and metal panels, Evo marks the third phase of The South Group’s “South” neighborhood. Evo is a ground-up, new construction project. The first two projects, Elleven and Luma, feature soft-loft designs. In addition to featuring lofts, Evo also has two-story townhomes.
The homes range from 730 to 3,500 square feet in size and feature up to 11-foot ceilings, performance-glazed operable windows, walk-in closets, Juliet balconies and Millennium hardwood floors in a variety of finishes. The kitchens boast Caesarstone countertops with matching backsplashes, stainless steel ovens, cooktops and dishwashers by Bosch and stainless steel refrigerators by Amana. Kitchens in the penthouses come with Viking stainless steel appliances.
The project includes an attended lobby, 24-hour security, Wi-Fi Internet in the common areas and three levels of subterranean parking. Rooftop amenities consist of a pool, poolside cabanas, outdoor fireplace, barbeque areas, media room, entertainment bar and fitness center.
With use of sustainable materials and energy-efficient construction techniques, Evo became the first LEED- certified residential high-rise building in downtown Los Angeles.
Monthly Reports - Los Angeles - March 2017
Sold OutAddress1155 S. Grand Avenue
Total Units311
Date on MarketJuly 2007
Closings CommencedOctober 2008
DeveloperThe South Group
Average HOA Fees$500 - $800/month
Sold Out2015
Last Six Months Price/SF$682 (3 units)
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
1807 1/2 1,390 $815,000 $586 1/13/2017 Resale
2108 1/1 840 $700,000 $833 11/29/2016 Resale
1104 1/2 1,230 $845,000 $687 10/12/2016 Resale
407 1/1 960 $614,000 $640 9/1/2016 Resale
503 1/2 1,120 $680,000 $607 8/31/2016 Resale
1905 1/1 920 $660,000 $717 7/11/2016 Resale
1105 1/1 1,050 $690,000 $657 7/5/2016 Resale
2009 2/3 2,400 $2,200,000 $917 6/20/2016 Resale
418 1/1 1,040 $640,000 $615 5/13/2016 Resale
316 1/1 1,020 $600,000 $588 5/9/2016 Resale
Averages: 1,197 $844,400 $705
LumaThe second project in the South neighborhood, Luma features 236 lofts, penthouses and live/work townhomes. Luma is a ground-up, new construction building with a glass-clad exterior separated by long concrete columns.
Homes are configured in a “soft-loft design” and contain floor-to-ceiling windows, Ice Stone slab kitchen countertops with a six-inch backsplashes, stainless steel Frigidaireappliances, hardwood floors and up to 11-foot ceilings. Building amenities consist of a lap pool, a shared outdoor terrace sited on the 17th floor of the building, barbeque area with outdoor fireplace, attended lobby and packagedelivery, 4,500 square feet of retail and four levels of above and below ground parking.
Luma received a LEED Silver Rating from the U.S. Green Building Council in fall 2008.
Monthly Reports - Los Angeles - March 2017
Sold OutAddress1100 South Hope Street
Total Units236
Date on MarketSeptember 2005
Closings Commenced2007
DeveloperThe South Group
Average HOA Fees$550 - $750/month
Sold Out2008
Last Six Months Price/SF$700 (7 units)
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
913 1/1 710 $515.000 $725 2/27/2017 Resale
1712 1/1 1,150 $785,000 $683 1/6/2017 Resale
1209 1/1 1,080 $700,000 $648 12/22/2016 Resale
1507 1/1 875 $620,000 $709 12/16/2016 Resale
707 1/1 875 $610,000 $697 11/30/2016 Resale
1213 1/1 700 $517,000 $739 11/4/2016 Resale
1414 1/1 947 $687,000 $725 11/1/2016 Resale
713 1/1 710 $519,500 $732 9/7/2016 Resale
1805 2/3 2,001 $1,630,000 $815 8/24/2016 Resale
704 1/1 990 $660,000 $667 7/29/2016 Resale
Averages: 1,004 $724,350 $722
Market LoftsLocated in the South Park neighborhood of downtownLos Angeles, this mixed-use development consists ofone- and two-bedroom lofts. The homes are located sixfloors above retail space, including Ralph’s, the first supermarket in downtown Los Angeles since the 1950s.
The lofts feature expansive windows, over nine-footceilings with exposed spiral ducts and pipes, Italiancabinetry, Caesarstone countertops and Whirlpoolstainless steel appliances. Flooring options range fromconcrete for homes on the second floor, to oakor maple hardwood flooring for homes on floors threethrough 17. Building amenities include a landscapedroofdeck with a pool and spa, fitness center, asocial room with a gourmet kitchen and a 20-seat movietheatre.
Monthly Reports - Los Angeles - March 2017
Sold OutAddress645 West Ninth Street
Total Units267
Date on MarketJanuary 2007
Closings Commenced2007
DevelopersLee Homes; CIM Group
Average HOA Fees$460 - $700/month
Sold Out2010
Last Six Months Price/SF$666 (8 units)
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
224 1/1 650 $460,000 $708 1/24/2017 Resale
209 1/1 660 $450,000 $682 12/20/2016 Resale
213 2/2 1,300 $805,000 $619 12/13/2016 Resale
526 1/1 1,023 $640,000 $629 12/6/2016 Resale
729 1/1 600 $450,000 $750 11/9/2016 Resale
520 1/1 890 $635,000 $713 10/28/2016 Resale
406 1/1 754 $480,000 $637 10/13/2016 Resale
444 1/1 820 $543,000 $662 10/12/2016 Resale
629 1/1 600 $450,000 $750 10/11/2016 Resale
742 0/1 800 $575,000 $719 7/1/2016 Resale
Averages: 810 $548,800 $678
Sky LoftsSky Lofts is a mixed-use project in the South Park neighborhood of downtown Los Angeles. Originally an office building, Sky Lofts now features ground-floor retail, commercial office space on floors 2 through 11 andresidences on floors 12 through 22.
The 132 loft homes are accessed from a private elevator in a two-story, resident-only entry lobby. The homes feature dual-glazed oversized windows, stone countertops, 10- to 25-foot ceilings, concrete or hardwood flooring and European-style cabinetry with under-cabinet lighting. Each home is allocated two deeded parking spaces.
Amenities consist of a fitness center, social room with a gourmet kitchen and movie theater.
Monthly Reports - Los Angeles - March 2017
Sold OutAddress801 South Grand Avenue
Total Units132
Date on MarketJanuary 2006
Closings CommencedJuly 2006
DevelopersLee Homes; CIM Group
Average HOA Fees$600 - $700/month
Sold Out2007
Last Six Months Price/SF$627 (4 units)
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
2005 2/2 1,580 $1,110,000 $703 1/11/2017 Resale
2112 2/2 1,310 $815,000 $622 12/24/2016 Resale
1710 3/3 1,930 $1,100,000 $570 11/9/2016 Resale
2104 2/2 1,311 $820,000 $625 10/25/2016 Resale
2108 2/2 1,220 $810,000 $664 9/8/2016 Resale
1801 2/2 1,320 $875,000 $663 6/9/2016 Resale
1312 2/2 1,220 $779,900 $639 4/27/2016 Resale
1808 2/2 1,220 $805,000 $660 4/4/2016 Resale
1608 2/2 1,220 $785,000 $543 2/9/2016 Resale
1411 2/2 1,580 $1,025,000 $649 1/29/2016 Resale
Averages: 1,391 $892,490 $642
The Ritz-Carlton Residences at L.A. LIVEThe residences occupy floors 27 through 50, with penthouses occupying the 51st and 52nd floors. Below The Ritz-Carlton Residences is a 123-room Ritz-Carlton Hotel and 878-room J.W. Marriott Hotel. L.A. LIVE is an approximately four million square foot sports and entertainment destination site adjacent to the STAPLES Center and the Los Angeles Convention Center.
L.A. LIVE showcases a Regal Cineplex, Nokia Theater, luxury apartments, upscale eateries, other retail and entertainment venues, including a bowling alley and the Grammy Museum. The development includes 150,000 square feet of commercial office space and a 120,000 square foot building that houses the West Coast broadcasting studios for ESPN.
Monthly Reports - Los Angeles - March 2017
Sold OutAddress900 West Olympic Boulevard
Total Units224
Date on MarketMay 2007
Closings CommencedFebruary 2011
DeveloperAEG
Average HOA Fees$1,700 - $4,260/month
Sold Out2014
Last Six Months Price/SFn/a
Most Recent Closed Sales
Unit Type SFClosing
Price$/SF
Closed Date
Sale Type
30E 1/2 1,030 $1,120,000 $1,087 7/12/2016 Resale
40F 1/2 1,100 $1,110,000 $1,009 6/24/2016 Resale
38J 3/3 2,160 $2,725,000 $1,262 6/21/2016 Resale
38B 2/2 1,950 $1,900,000 $974 5/6/2016 Resale
42A 2/3 1,850 $2,080,000 $1,124 5/4/2016 Resale
47G 3/4 4,250 $6,700,000 $1,576 3/25/2016 Resale
30A 2/3 1,706 $1,900,000 $1,114 3/11/2016 Resale
32K 2/3 1,700 $1,800,000 $1,059 1/22/2016 Resale
33E 1/2 1,050 $1,150,000 $1,095 1/14/2016 Resale
35K 2/3 1,700 $1,870,000 $1,100 1/12/2016 Resale
Averages: 1,850 $2,235,500 $1,209
Condominium Pipeline Summary
AreaUnder
ConstructionApproved Under Review
Downtown 1,692 1,818 2,595
Koreatown/Wilshire Corridor 0 0 773
Westside 598 223 358
Hollywood & West Hollywood 210 244 118
Totals 2,500 2,285 3,844
Rental Pipeline Summary
AreaUnder
ConstructionApproved Under Review
Downtown 6,487 2,240 7,498
Koreatown/Wilshire Corridor 1,492 0 3,367
Westside 1,468 1,192 870
Hollywood & West Hollywood 1,811 806 2,460
Totals 11,258 4,238 14,195
TBD Pipeline Summary
AreaUnder
ConstructionApproved Under Review
Downtown 0 0 7,511
Koreatown/Wilshire Corridor 0 0 583
Westside 147 546 635
Hollywood & West Hollywood 146 1,463 1,078
Totals 293 2,009 9,807
The Mark Company maintains a detailed list of all upcoming developments in the pipeline. Contact Erin Kennelly at [email protected] for more information.
Pipeline Summary
Monthly Reports - Los Angeles - March 2017
The Mark Company (TMC)Disclaimer
1.
2.
Professional Opinion. With regard to the consulting services, reports, projections, and recommendations to be provided by TMC under the Agreement, whether delivered orally or in writing, the parties acknowledge that the matters on which TMC is consulted [e.g., assessing potential competition, market trends, demographic trends, financing availability, and the like] are not the subject of a predictive science, and are instead subject to unforeseen market variables and conditions. Client therefore understands and acknowledges that TMC’s projections and recommendations as contemplated by the agreement are solely the result of TMC’s considered opinion based on TMC’s assumptions and judgments predicated on past experience in light of the relevant data studied with respect to the market conditions and the proposed project. Consequently, Client specifically agrees (a) that TMC’s projections and recommendations constitute opinions only and do not constitute any representation or assurance of any future market conditions; (b) that any action taken by Client based on any such TMC projections or recommendations is made without any reliance thereon as a representation or assurance as to any future market conditions; and (c) that Client will not hold TMC liable or otherwise responsible for any losses occurring in the event that future market conditions deviate from TMC’s projections and/or recommendations.
Use of Product. All information, data, projections, and recommendations received by Client from TMC in connection with the Agreement, whether presented orally or in writing, shall be solely for use by Client, and is/are not to be used or relied upon by any third party[ies] without the prior written approval of TMC having been first had and obtained. TMC specifically disclaims any and all liability to any third party[ies] deriving from the use of, or reliance upon, any such material, and Client agrees to hold harmless, indemnify and defend TMC from any claims arising from any such use or reliance.
Monthly Reports - Los Angeles - March 2017