Category: Real Estate News

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L.A. Loft Blog Reader Questions: Brick Lofts, Crime and Inflation

LOS ANGELES REAL ESTATE NEWS | READER QUESTIONS | Blog Video

Q: Where can I find loft apartment brick? A: Brick is a popular element of the loft style. There is a loft apartment building in the Arts District of Downtown Los Angeles called Brick Lofts. There are also other nearby buildings with lofts and condos for lease and for sale with exposed brick.

Q: Is real estate affected by los angeles crime? A: Rising crime is one of the issues linked to falling Downtown Los Angeles real estate prices. While long-term market cycles are likely the primary factor, other influences on DTLA property values include virus hysteria, riots and personal crime, along with homeless encampment debris, garbage — and a general increase in lawlessness and other dangers.

Q: How does inflation affect the real estate market? A: Inflation introduces upward pressure on building materials and real estate prices. The inflation can be difficult to spot while large sections of the economy are still crashing, including commercial real estate, travel, tourism, restaurant, entertainment venues, retail and many other sectors. Because many rich are getting richer while the majority of inner city poor and working class are getting poorer, most small and medium size apartments, lofts and condos are falling in price while some large luxury properties are doing just fine. As some home building materials have tripled in price, Warren Buffet recently joined many other billionaires and economists in sounding the alarm on runaway inflation.

Regarding of inflation and the economy, suburban real estate prices and stock market values are now highly, artificially inflated. According to billionaire Leon Cooperman, “This is not going to end well.” Either runaway inflation (devaluation of the dollar, and high consumer prices) or a looming stock market crash (perhaps both!): one or the other is inevitable sooner rather than later. The boomers and bears are going to make a killing, and the experienced investors will end up owning a huge chunk of the market, leaving most Robin Hood millennials reeling — picture Alex Kearns times a million. Here’s a story of one super overvalued New Jersey deli that is emblematic of the fake, pumped up stock market.

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

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Eli Broad’s Massive Contributions to the Arts in Downtown Los Angeles

REAL ESTATE NEWS

One man stands out as the billionaire philanthropist who pushed the Downtown Los Angeles arts community strongly and beautifully into the 21st century. Eli Broad, the suburban real estate developer helped build up L.A.’s cultural landscape, recently died at age 87.

The Downtown L.A. building that bears the name of him and his wife Edythe, The Broad, contemporary art museum on Grand Avenue. The couple financed the $140 million structure, itself an ultra modern architectural work of art that houses and displays more than $1 billion of their private art collections. The museum offers free general admission to its permanent collection galleries. | ARCHPAPER ARTICLE

Broad, who at the time of death was worth $6.7 billion, made his fortune by building residential real estate since the 1950s, creating the Kaufman and Broad Home Corporation, before getting involved in the very profitable insurance and investment company SunAmerica. This makes Broad the only person to create Fortune 500 companies in two different industries.

That decision would have a major impact on L.A.’s arts scene. Broad served as chairman of the MOCA Los Angeles Museum of Contemporary Art, helping land the museum its first large collections.

The Broads moved to Los Angeles in 1963. At first, it was Edythe who was the art lover, buying works on paper from local galleries such as Ferus and Nicholas Wilder. But Eli soon grew to share her passion. Los Angeles became their adopted home town.

Some would call Eli divisive, and he referred to himself as “unreasonable.” One thing is for sure, Eli certainly demonstrated that he saw the arts as a way to strive to build a better world for everyone.

The Broads sponsored the $300 million Walt Disney Concert Hall designed by Frank Gehry, now home to the Los Angeles Philharmonic. Gehry described Eli as a “control freak”. Indeed, he controlled things quite well. The Broads have given nearly $1 billion to Los Angeles-area arts and culture institutions, while also spending tremendous time on the consultation required to make the well-funded arts pursuits successful.

A life trustee of MOCA, LACMA, and the Museum of Modern Art, Eli was a fellow of the American Academy of Arts and Sciences. “Civilizations are not remembered by their business people, their bankers or lawyers,” he said. “They’re remembered by the arts.” | MORE

Lofts and condos nearest to the Broad museum include: Bunker Hill Tower, Promenade Condominiums, Promenade West, Pan American Building, Douglas Building and the Higgins Building.

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.