Top Ten List of Loft Condo Homes that Flew Off the Shelves
Why did these condominium units sell so quickly? Let’s take a look at what made these Downtown L.A. lofts and condos go FAST. Here’s the top ten list with the properties that sold in no time flat. Let’s analyze how proper pricing and presentation combine to make lofts irresistible to buyers. Starting with a traditional luxury condo unit in a building that loft lovers don’t usually like so much, The Promenade. This big 1,323 sq ft fully updated unit was priced to sell, and so it did, in just two Days On Market: #sold #dtla #lofts
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A modern construction soft loft, the Elleven building set the stage for this well-presented unit with a large balcony staged with appropriate attractive table and chair set amid quiet tree-tops with peekaboo city views, all just steps away from the new center of the universe, LA LIVE and the upcoming Oceanwide Plaza. The lighting is upgraded, the bed area has upgraded sliding frosted glass doors. The price was right to move this superior unit in just 4 Days on Market:
Sold
Modern wood wall covering warms up this concrete loft, while strategically placed mirrors multiply the wall of windows sell this industrial beauty in only 5 Days on Market:
Sold
Fun furnishings such as an umbrella table set in the patio, modern compact bar and glorified platformed bed area with colorful sofa pulled the excitement strings to make this historic loft pop in a week:
Sold
There are many issues about Downtown L.A. lofts and condos that are hard to look up online. One of these issues is litigation and lawsuits. Here’s a question that we received this week:
Dear Corey,
Can you tell me anything about lawsuits at 1100 Wilshire?
Thank you for your request. I think I remember someone else asked a similar questions recently, so I’ll put a link to that one. Litigation has been reported by listings agent on these dates: 05-23-2017, 11-25-2017 and 05-08-2017. Sometimes the homeowner’s association can provide details. The HOA phone: number for 1100 Wilshire Bl 90017 is 213-977-8880.
It’s one of my favorite buildings, and one of the most respected buildings in Downtown Los Angeles, but it seems that building has had more than its share of litigation. It’s often hard to find out exactly what is going on with lawsuits at any given time because some try to keep the under wraps. Here’s what we’ve heard about issues in the building that might be relevant: years ago we heard someone got her finger hurt in the elevator door. This is easy to believe because the elevator doors in this building seem to close faster than other elevators. Now a modern loft residential building, 1100 Wilshire was originally a commercial office building high-rise. The elevators were built to zoom large numbers of people up 30 floors rapidly so they can get to their busy offices. The benefit is the elevators are a little bit faster than most residential elevators, but the drawbacks are that the elevator doors close faster so you need to be careful to run into the elevator more quickly and keep your hands away from the elevator doors. Perhaps even more importantly keep your pets away from the elevator doors and also make sure the door does not close on the leash.
More recently, we heard that the HOA reserves might actually be depleted somewhat due to too much litigation. We don’t know if that is true or not.
We are told a building is being possibly constructed across the street on the south side. The tall building could potentially he block some sunlight to the south facing units. This could potential he affect the swimming pool deck on the 17th floor.
Another issue that has bothered me personally is Chase Bank somewhat took over the building, putting their name on the top of the building, and sharing the lobby. I have noticed a little more wear and tear on the lobby and nearby areas. The worst thing has been giving control of the parking over to Chase. While we could once get free parking easily 24 hours a day with validations from the front desk, we now can only get a tiny discount on the parking from Chase bank during banking hours only.
Most lawsuits in Downtown LA involve the homeowners association suing the developer for construction defects. Not sure if one of the lawsuits is related to that common situation.
Prospective homebuyers receive usually a lot of homeowners association documents when they are in escrow. These usually mention any ongoing lawsuits and litigation and will sometimes provide details. The issues mentioned in this post help provide a general background of what we have seen or what we have heard about. Some of these issues may not be an issue today. We’ve also been yelled at and told that we were wrong about issues we had mentioned before in this building. We don’t have access to the very latest documentation regarding litigation and lawsuits. Prospective home buyers and attorneys are responsible for checking out the details, and home sellers are required to disclose all known facts that may affect the value of the property.
With its many luxury amenities and modern style with extremely high overall quality, 1100 Wilshire remains one of the most sought after buildings in downtown Los Angeles. Here is the link to more information about 1100 Wilshire and a link to more information about downtown loft lawsuits and litigation.
Get a free report on litigation and lawsuits in downtown Los Angeles. Fill out the online form:
Why did these condominium units sell so quickly? Let’s take a look at what made these Downtown L.A. lofts and condos go FAST. Here’s the top ten list with the properties that sold in no time flat. Let’s analyze how proper pricing and presentation combine to make lofts irresistible to buyers. Starting with a traditional luxury condo unit in a building that loft lovers don’t usually like so much, The Promenade. This big 1,323 sq ft fully updated unit was priced to sell, and so it did, in just two Days On Market: #sold #dtla #lofts
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