Tag: downtown los angeles

Downtown Los Angeles – The place where it all happens. The new center of the universe!

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Are Rents Declining in Downtown Los Angeles?

REAL ESTATE NEWS  —  Many Downtown area homeowners received a post card recently from a loft specialist real estate company stating that rents are declining.  Because the L.A. Loft Blog is the authority of Downtown Los Angeles real estate, we’re going to help determine if this is true.  Are rents really going down in Downtown L.A.?   #rentprice #dtla

Are Downtown L.A. Rents Going Down?
Are Downtown L.A. Rents Going Down?

RENT PRICES

The post card fails to include the exact beginning and end period, and also does not mention the comparison period.  The statistical statements therefore are not complete, and so it’s like saying a car is going 55 or 75 without saying miles per hour or kilometers per hour etc. The same is true when talking about rental rates. Panic selling is rarely a good idea, so Downtown home owners and landlords want to know the real details of what is happening to the DTLA rental market.

To know the real state of rents in Downtown, we need to look directly at the MLS Multiple Listing Service data, and compare the specific time periods.  The generally accepted time period to observe in real estate is the past 6 months (the recent market period), and then to compare that to the same 6 month period in the years earlier.

We’re not going to use average because the MLS data contains errant massively incorrect data.  Median is more accurate (the middle number), so lets take a look at the real median rental price for those specific periods:

2015 $2,550  Downtown LA Rents 2015 (pdf)
2016 $2,740  Downtown LA Rents 2016 (pdf)
2017 $2,750  Downtown LA Rents 2017 (pdf)

So looking directly at the real MLS data, we can see that rents are generally not going down, but the rate of increase has most certainly gone down. A stabilization has occurred. No need to panic. In fact, the opposite is true. The right amount of new apartments have been built so that the thousands of new Downtown residents might not need to encounter huge rent increase in the near future, and landlords will likely not be able to raise rents dramatically. Downtown Los Angeles landlords will also not likely need to implement the 65% rent reduction that the recent postcard seems to suggest.

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What's really happening wth Downtown Los Angeles apartment rental prices?
What’s really happening wth Downtown Los Angeles apartment rental prices?

 

Downtown Los Angeles Homes Sold Prices

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.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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Atelier DTLA

Atelier Apartments  801 S. Olive St., Downtown Los Angeles, CA 90014

Atelier DTLA
Atelier DTLA

New in Downtown L.A.  —  Where art and culture meet, Atelier is more than just the latest modern apartments.   #atelier #dtla

ATELIER offers front row seats to the vibrant transformation of Downtown LA. Surrounded by world-class entertainment, museums, galleries and restaurants, residents enjoy a vast array of cultural destinations and experience the rich tapestry of DTLA.

Designed by Solomon Cordwell Buenz, the chic glass structure soars to 33 stories, with floor-to-ceiling windows bringing 360° city views. These premium residences deliver thoughtfully designed luxury finishes along with resort-style amenities. Evolved by design, ATELIER is the blank canvas to make one’s own.

These sparkling Downtown Los Angeles Atelier apartments offer residents an exquisite home in the nation’s most geographically unique and vibrant metropolis. A combination of historic and contemporary, the city itself is home to famous picturesque views, timeless architectural masterpieces, and is intrinsically decorated with the fine arts. Incorporated into this thriving city are majestic mountain tops that offer the ultimate in relaxation, as well as the warm beaches that California is known for.

Atelier Downtown L.A.
Atelier Downtown L.A.

​With the perfect blend of nature’s beauty and exhilarating city life, living in Los Angeles offers boundless enjoyment for those that call the area home. Fine dining experiences, historic theaters, extravagant libraries, wholesome marketplaces and grand concert halls can be found in abundance here. These high-end attractions stand within reach of these luxury DTLA apartments for rent, but the ability to take part in all facets of LA while enjoying resort-style living is what makes this a truly unique experience.​

VIDEOS:  STUDIO  |  1 BEDROOM  |  2 BEDROOM  |  Fireplace Lounge

From German hardwood style flooring to quartz countertops with under-cabinet lighting, Atelier redefines luxury apartments in downtown Los Angeles. Balconies offer dreamlike views of the city while the finest modern furnishings create stunningly elegant living spaces. An unending abundance of amenities make possible a wide variety of lifestyles from the pet owner to the entrepreneur and the fitness enthusiast with state-of-the-art designs and comfort in mind.

Standing in one of the world’s most exuberant cities, Atelier DTLA provides nothing short of the finest in luxury living.

The first thing that one notices about Atelier is that the building is a big, black sleek, modern beast of a structure, an immense onyx obelisk. When the door is puled open, both heavy glass doors automatically open, the second door batting away the inattentive like a giant crystal Greystar fly swatter serving to pre-enlighten visitors that they should stay alert and in-line, and only then may they appreciate the grand automation and high-end, high-tech convenience of Atelier.

The lobby introduces an ultra-modern, minimalist art gallery feel with immediate personal service by the front desk.

The upscale building in DTLA emphasizes amazing views, vast array of lounges and other amenities, including a prominent corner dog run with city views and a dog spa with pet baths, furry friend showers and do-it-yourself animal grooming station.

With indoor and outdoor lounges galore, sprawling fitness center of the fullest complement, pool deck of sweeping openness, brilliant social spaces in rich surroundings, the towering high-rise with designer interior with top-notch finishes accentuate the successful minimalist art theme of Atelier.

New apartments start at around $2,800 as of 07/18/17.

Get a list of Atelier DTLA Apartments. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking  |  More

Atelier Apartments Downtown Los Angeles
Atelier Apartments Downtown Los Angeles

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 Not associated with Atelier owner or management. For more information, contact (213) 880-9910 or visit LAcondoInfo.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.