Comments for Downtown Los Angeles Condos http://downtownlofts.wordpress.com Living in, buying, and selling Downtown Los Angeles condos and lofts. Tue, 20 Jan 2009 07:08:28 +0000 http://wordpress.com/ hourly 1 Comment on Hello world! by Stephen May http://downtownlofts.wordpress.com/2006/12/16/hello-world/#comment-34 Stephen May Tue, 20 Jan 2009 07:08:28 +0000 #comment-34 I plan on being at the Inaugural Event at Nokia Plaza in Downtown L.A. starting at 8:00 AM with a sign that reads "BOOO!!! HOMOPHOBE Rick Warren". If anyone wants to join me, call me on my cell 213-804-3800. Stephen May I plan on being at the Inaugural Event at Nokia Plaza in Downtown L.A. starting at 8:00 AM with a sign that reads “BOOO!!! HOMOPHOBE Rick Warren”. If anyone wants to join me, call me on my cell 213-804-3800. Stephen May

]]> Comment on Downtown Los Angeles Condos by Stephen May http://downtownlofts.wordpress.com/2006/12/16/downtown-los-angeles-condos/#comment-13 Stephen May Mon, 23 Jul 2007 15:32:48 +0000 http://downtownlofts.wordpress.com/2006/12/16/downtown-los-angeles-condos/#comment-13 <a href="http://www.trulia.com/voices/profile/Real_Estate_Pro-New_Downtown-20777/" rel="nofollow"></a>

]]> Comment on Downtown Los Angeles Condos by Stephen May http://downtownlofts.wordpress.com/2006/12/16/downtown-los-angeles-condos/#comment-11 Stephen May Thu, 19 Apr 2007 01:01:05 +0000 http://downtownlofts.wordpress.com/2006/12/16/downtown-los-angeles-condos/#comment-11 29 DOWNTOWN CONDOMINIUMS ARE REPORTED "SOLD" ON THE MLS IN THE LAST 30 DAYS From March 17, 2007 to April 17, 2007, 29 Downtown condos were reported SOLD on the Combined Los Angeles-Westside Multiple Listing Service (CLAW MLS). 236 condos are reported as having ACTIVE status (currently on the market) and 78 are PENDING (in escrow). What are the SOLDS? In what Downtown neighborhoods are they located? In what price range are they selling? Are the Sellers individual owners or developers of new projects? Are Buyers showing a preference for apartment-style or loft-style condos? Do Buyers care whether the construction is new or adaptive reuse? Here are the numbers and maybe a little analysis...with a caveat! In terms of neighborhood, 13 reported SOLDS are located in City West (Vero), 1 in the Industrial District (Toy Factory), 4 on Bunker Hill (The Promenade, Bunker Hill Tower, Promenade West), 5 in the Historic Theater District (Eastern Columbia), 1 in Pico-Union (Vista Montoya), 1 in Little Tokyo (Savoy), 1 in South Park (Skyline), 1 in the Historic Core (Bartlett Building), and 2 in the Financial District (Library Court). Analysis: City West is cookin'! So, what's the caveat? The List Agents of the developers, though brokers who are members of the MLS, are not required to publish all their sales activity as are members who represent individual Sellers. So agents, and the Buyers and individual Sellers they represent, cannot get a true picture of what is for sale and what has actually sold. This seems to me to be contrary to one of the main purposes the MLS is supposed to serve: to give an accurate picture of what's going on in the real estate market. Anyone agree with me? Price: 1 in the $200,000's, 4 in the $300,000's, 11 in the $400,000, 8 in the $500,000's, 2 in the $600,000's, and one each in the $700,000, $800,000 and $900,000's. Analysis: Most sales are in the $400,000 and $500,000's. The caveat? You guessed it. Again, the brokers representing the developers, though members of the MLS, are exempt from the requirement that MLS members publish all their listings. So the information above is what's "published" on the MLS, but far from being a complete or accurate picture, which is what I would like to be able to provide to my clients, both Buyers and Sellers. The County Assessor can only provide information about what's actually been sold, not what's on the market. The MLS should be the place to obtain the facts about what's for sale, what has sold, and for how much, insofar as MLS members are involved in the transaction. I've attempted to answer (with caveat) two of the questions I posed in the second paragraph above. The remaining questions I'll save for the next article. My writing appears to be evolving more into the presently-popular "blog" style. Will "blogging" last, or will it go out with "low carb" and "rehab?" So I'd better rant while I can. 29 DOWNTOWN CONDOMINIUMS ARE REPORTED “SOLD” ON THE MLS IN THE LAST 30 DAYS

From March 17, 2007 to April 17, 2007, 29 Downtown condos were reported SOLD on the Combined Los Angeles-Westside Multiple Listing Service (CLAW MLS). 236 condos are reported as having ACTIVE status (currently on the market) and 78 are PENDING (in escrow).

What are the SOLDS? In what Downtown neighborhoods are they located? In what price range are they selling? Are the Sellers individual owners or developers of new projects? Are Buyers showing a preference for apartment-style or loft-style condos? Do Buyers care whether the construction is new or adaptive reuse? Here are the numbers and maybe a little analysis…with a caveat!

In terms of neighborhood, 13 reported SOLDS are located in City West (Vero), 1 in the Industrial District (Toy Factory), 4 on Bunker Hill (The Promenade, Bunker Hill Tower, Promenade West), 5 in the Historic Theater District (Eastern Columbia), 1 in Pico-Union (Vista Montoya), 1 in Little Tokyo (Savoy), 1 in South Park (Skyline), 1 in the Historic Core (Bartlett Building), and 2 in the Financial District (Library Court). Analysis: City West is cookin’!

So, what’s the caveat? The List Agents of the developers, though brokers who are members of the MLS, are not required to publish all their sales activity as are members who represent individual Sellers. So agents, and the Buyers and individual Sellers they represent, cannot get a true picture of what is for sale and what has actually sold. This seems to me to be contrary to one of the main purposes the MLS is supposed to serve: to give an accurate picture of what’s going on in the real estate market. Anyone agree with me?

Price: 1 in the $200,000’s, 4 in the $300,000’s, 11 in the $400,000, 8 in the $500,000’s, 2 in the $600,000’s, and one each in the $700,000, $800,000 and $900,000’s. Analysis: Most sales are in the $400,000 and $500,000’s.

The caveat? You guessed it. Again, the brokers representing the developers, though members of the MLS, are exempt from the requirement that MLS members publish all their listings. So the information above is what’s “published” on the MLS, but far from being a complete or accurate picture, which is what I would like to be able to provide to my clients, both Buyers and Sellers. The County Assessor can only provide information about what’s actually been sold, not what’s on the market. The MLS should be the place to obtain the facts about what’s for sale, what has sold, and for how much, insofar as MLS members are involved in the transaction.

I’ve attempted to answer (with caveat) two of the questions I posed in the second paragraph above. The remaining questions I’ll save for the next article. My writing appears to be evolving more into the presently-popular “blog” style. Will “blogging” last, or will it go out with “low carb” and “rehab?” So I’d better rant while I can.

]]> Comment on Hello world! by downtownlofts http://downtownlofts.wordpress.com/2006/12/16/hello-world/#comment-10 downtownlofts Sun, 01 Apr 2007 02:05:00 +0000 #comment-10 In early March, I bought a unit at Little Tokyo Lofts, which now serves as the office of Downtown Residential Real Estate and as my second home. I like the place very much, both as a place to live/work and as a long-term investment. The Sales Office of the developer, Hammer Ventures, informs me that there are around 40-45 units out of 161 still available at this time, going fast. They are for sale at a variety of prices, mostly lower floors, various floor plans, three remaining exposures (northern is pretty much sold out). I can represent a buyer of these units, negotiate concessions/amenities on my client's behalf, and get paid a commission by the Seller/Developer. There is, in addition, what I consider to be an especially good opportunity to buy upgraded units from a reseller. These are the only two units published for sale on the MLS other than those being sold by developer Hammer. They are both approximately 800 square feet with city views. These properties are listed with another agent, who represents the seller and offers to "cooperate" with a buyer's agent. Seller pays all commission. For sake of ease, I will simply reprint here the MLS-published remarks of the List Agent. Call me, Stephen May, at 213-221-4514, who will represent you the Buyer exclusively, for more information or to arrange a showing. Unit 522, Asking $455,000--List Agent's REMARKS: "Come Now! Model unit priced for immediate sale! Slashed over $50k! Designer upgrades include additional cabinetry, lighting, window treatments, niches, all stainless appliances, lush paints & so much more. Plus an unbelievable 2 car parking that you own & an unheard of 1 year paid HOA at $429 per month. Dont miss this once in a lifetime chance to own a gorgeous live/work loft in the heart of downtown LA." Unit 402, Asking $457,000--List Agent's REMARKS: "Huge reduction.. over $50k! Model unit priced to sell quickly. Your gain on an a move in ready designer unit.. ready to go! Plus, you own 2 car parking and get a FREE year of HOA at $419 per month. For a live/work loft of this quality and calibur at this price simply does not exist anywhere in downtown LA. Do not miss this golden opportunity. Come now!" The language the Seller's Agent uses in his property description is a little different from the language I use...but you get the picture. Again, call Stephen May, REALTOR at 213-221-4514 for more information or to arrange a showing of these two units (any day, any time), or other units being sold through the Sales Office (Monday-Saturday, 10-5). I especially like Little Tokyo Lofts. I bought here myself. And I know Downtown condos! In early March, I bought a unit at Little Tokyo Lofts, which now serves as the office of Downtown Residential Real Estate and as my second home. I like the place very much, both as a place to live/work and as a long-term investment.

The Sales Office of the developer, Hammer Ventures, informs me that there are around 40-45 units out of 161 still available at this time, going fast. They are for sale at a variety of prices, mostly lower floors, various floor plans, three remaining exposures (northern is pretty much sold out). I can represent a buyer of these units, negotiate concessions/amenities on my client’s behalf, and get paid a commission by the Seller/Developer.

There is, in addition, what I consider to be an especially good opportunity to buy upgraded units from a reseller. These are the only two units published for sale on the MLS other than those being sold by developer Hammer. They are both approximately 800 square feet with city views. These properties are listed with another agent, who represents the seller and offers to “cooperate” with a buyer’s agent. Seller pays all commission. For sake of ease, I will simply reprint here the MLS-published remarks of the List Agent. Call me, Stephen May, at 213-221-4514, who will represent you the Buyer exclusively, for more information or to arrange a showing.

Unit 522, Asking $455,000–List Agent’s REMARKS:

“Come Now! Model unit priced for immediate sale! Slashed over $50k! Designer upgrades include additional cabinetry, lighting, window treatments, niches, all stainless appliances, lush paints & so much more. Plus an unbelievable 2 car parking that you own & an unheard of 1 year paid HOA at $429 per month. Dont miss this once in a lifetime chance to own a gorgeous live/work loft in the heart of downtown LA.”

Unit 402, Asking $457,000–List Agent’s REMARKS:

“Huge reduction.. over $50k! Model unit priced to sell quickly. Your gain on an a move in ready designer unit.. ready to go! Plus, you own 2 car parking and get a FREE year of HOA at $419 per month. For a live/work loft of this quality and calibur at this price simply does not exist anywhere in downtown LA. Do not miss this golden opportunity. Come now!”

The language the Seller’s Agent uses in his property description is a little different from the language I use…but you get the picture.

Again, call Stephen May, REALTOR at 213-221-4514 for more information or to arrange a showing of these two units (any day, any time), or other units being sold through the Sales Office (Monday-Saturday, 10-5). I especially like Little Tokyo Lofts. I bought here myself. And I know Downtown condos!

]]> Comment on Hello world! by downtownlofts http://downtownlofts.wordpress.com/2006/12/16/hello-world/#comment-9 downtownlofts Sun, 01 Apr 2007 01:12:34 +0000 #comment-9 [slideguest id=288230376157592833&w=426&h=320] [slideguest id=288230376157592833&w=426&h=320]

]]> Comment on Downtown Los Angeles Condos by Stephen May http://downtownlofts.wordpress.com/2006/12/16/downtown-los-angeles-condos/#comment-8 Stephen May Sat, 31 Mar 2007 08:09:32 +0000 http://downtownlofts.wordpress.com/2006/12/16/downtown-los-angeles-condos/#comment-8 In early March, I bought a unit at Little Tokyo Lofts, which now serves as the office of Downtown Residential Real Estate and as my second home. I like the place very much, both as a place to live/work and as a long-term investment. The Sales Office of the developer, Hammer Ventures, informs me that there are around 40-45 units out of 161 still available at this time, going fast. They are for sale at a variety of prices, mostly lower floors, various floor plans, three remaining exposures (northern is pretty much sold out). I can represent a buyer of these units, negotiate concessions/amenities on my client's behalf, and get paid a commission by the Seller/Developer. There is, in addition, what I consider to be an especially good opportunity to buy upgraded units from a reseller. These are the only two units published for sale on the MLS other than those being sold by developer Hammer. They are both approximately 800 square feet with city views. These properties are listed with another agent, who represents the seller and offers to "cooperate" with a buyer's agent. Seller pays all commission. For sake of ease, I will simply reprint here the MLS-published remarks of the List Agent. Call me, Stephen May, at 213-221-4514, who will represent you the Buyer exclusively, for more information or to arrange a showing. Unit 522, Asking $455,000--List Agent's REMARKS: "Come Now! Model unit priced for immediate sale! Slashed over $50k! Designer upgrades include additional cabinetry, lighting, window treatments, niches, all stainless appliances, lush paints & so much more. Plus an unbelievable 2 car parking that you own & an unheard of 1 year paid HOA at $429 per month. Dont miss this once in a lifetime chance to own a gorgeous live/work loft in the heart of downtown LA." Unit 402, Asking $457,000--List Agent's REMARKS: "Huge reduction.. over $50k! Model unit priced to sell quickly. Your gain on an a move in ready designer unit.. ready to go! Plus, you own 2 car parking and get a FREE year of HOA at $419 per month. For a live/work loft of this quality and calibur at this price simply does not exist anywhere in downtown LA. Do not miss this golden opportunity. Come now!" The language the Seller's Agent uses in his property description is a little different from the language I use...but you get the picture. Again, call Stephen May, REALTOR at 213-221-4514 for more information or to arrange a showing of these two units (any day, any time), or other units being sold through the Sales Office (Monday-Saturday, 10-5). I especially like Little Tokyo Lofts. I bought here myself. And I know Downtown condos! In early March, I bought a unit at Little Tokyo Lofts, which now serves as the office of Downtown Residential Real Estate and as my second home. I like the place very much, both as a place to live/work and as a long-term investment.

The Sales Office of the developer, Hammer Ventures, informs me that there are around 40-45 units out of 161 still available at this time, going fast. They are for sale at a variety of prices, mostly lower floors, various floor plans, three remaining exposures (northern is pretty much sold out). I can represent a buyer of these units, negotiate concessions/amenities on my client’s behalf, and get paid a commission by the Seller/Developer.

There is, in addition, what I consider to be an especially good opportunity to buy upgraded units from a reseller. These are the only two units published for sale on the MLS other than those being sold by developer Hammer. They are both approximately 800 square feet with city views. These properties are listed with another agent, who represents the seller and offers to “cooperate” with a buyer’s agent. Seller pays all commission. For sake of ease, I will simply reprint here the MLS-published remarks of the List Agent. Call me, Stephen May, at 213-221-4514, who will represent you the Buyer exclusively, for more information or to arrange a showing.

Unit 522, Asking $455,000–List Agent’s REMARKS:

“Come Now! Model unit priced for immediate sale! Slashed over $50k! Designer upgrades include additional cabinetry, lighting, window treatments, niches, all stainless appliances, lush paints & so much more. Plus an unbelievable 2 car parking that you own & an unheard of 1 year paid HOA at $429 per month. Dont miss this once in a lifetime chance to own a gorgeous live/work loft in the heart of downtown LA.”

Unit 402, Asking $457,000–List Agent’s REMARKS:

“Huge reduction.. over $50k! Model unit priced to sell quickly. Your gain on an a move in ready designer unit.. ready to go! Plus, you own 2 car parking and get a FREE year of HOA at $419 per month. For a live/work loft of this quality and calibur at this price simply does not exist anywhere in downtown LA. Do not miss this golden opportunity. Come now!”

The language the Seller’s Agent uses in his property description is a little different from the language I use…but you get the picture.

Again, call Stephen May, REALTOR at 213-221-4514 for more information or to arrange a showing of these two units (any day, any time), or other units being sold through the Sales Office (Monday-Saturday, 10-5). I especially like Little Tokyo Lofts. I bought here myself. And I know Downtown condos!

]]> Comment on Hello world! by Stephen May http://downtownlofts.wordpress.com/2006/12/16/hello-world/#comment-4 Stephen May Tue, 20 Mar 2007 04:18:59 +0000 #comment-4 LITTLE TOKYO LOFTS...MY FAVORITE DOWNTOWN L.A. LOFT CONDOMINIUMS! The Downtown Condo Team of Stephen May and Wayne A. Willbur will be showing units for sale and lease at the adaptive-reuse Little Tokyo Lofts, 420 S. San Pedro St., formerly a Westinghouse factory, this Saturday, March 24, from 10:00 am to 4:00 pm. Downtown Residential Real Estate has moved its office to the Little Tokyo Lofts, Unit 519 in the mixed-use industrial/residential Toy District, which is located between Los Angeles St. and Alameda St., just south of Little Tokyo. This live/work loft also serves as Broker Stephen May's second home. Unit 519 is a corner plan with exposures to the east and south, a large closet, maple floors, and 12-foot ceiling. The secure deeded parking is located in a separate garage structure connected to the residential building by a walkway overlooking the pool and spa. Stephen May, though himself a real estate licensee, chose to be represented in both the sale of his Bartlett Building loft and his purchase by teammate Wayne A. Willbur of Deasy/Penner & Willbur. Both transactions are reported at www.themls.com, MLS# 07-158999 and MLS# 07-153877. This Saturday, March 24, Wayne and Stephen will be available at Little Tokyo Lofts from 10:00 am to 4:00 pm to show clients units for sale and for rent. Out of 161 units, 51 are still available for sale. They range in price from $325,000 for a 690 sf loft to $1,020,000 for a 2207 sf two-level unit. All come with deeded parking. One 861 square foot west-facing unit with skyline view, walk-in closet and secure, covered parking is available for rent at $1700 per month. Wayne and Stephen can repressent you as a team in either a purchase or lease. Two for the Price of None (Seller/Landlord pays commission)! Let Stephen (213-804-3800) or Wayne (213-500-0254) know if you'll be coming by on Saturday, March 24 any time between 10 and 4, so we can arrange a tour for you with the Sales Staff, or just drop by. There is ample guest parking; just pull up to the security station in the alley south of the building and tell the guard you're seeing Stephen May, Unit 519. If you want to be assured of a quiet upstairs neighbor, be sure to ask to see Unit 419. It's a 966 sf corner unit with huge windows and large closet, asking price $495,000, $20,000 less than what Stephen paid for the unit one level above! And Stephen and Wayne will attempt to negotiate some amenities/concessions from the Seller on your behalf. Hope to see you on Saturday. Drop by or better to call in advance, so we can arrange the all-models tour for you. Stephen May downtownlofts@gmail.com 213-221-4514 LITTLE TOKYO LOFTS…MY FAVORITE DOWNTOWN L.A. LOFT CONDOMINIUMS!

The Downtown Condo Team of Stephen May and Wayne A. Willbur will be showing units for sale and lease at the adaptive-reuse Little Tokyo Lofts, 420 S. San Pedro St., formerly a Westinghouse factory, this Saturday, March 24, from 10:00 am to 4:00 pm.

Downtown Residential Real Estate has moved its office to the Little Tokyo Lofts, Unit 519 in the mixed-use industrial/residential Toy District, which is located between Los Angeles St. and Alameda St., just south of Little Tokyo. This live/work loft also serves as Broker Stephen May’s second home. Unit 519 is a corner plan with exposures to the east and south, a large closet, maple floors, and 12-foot ceiling. The secure deeded parking is located in a separate garage structure connected to the residential building by a walkway overlooking the pool and spa.

Stephen May, though himself a real estate licensee, chose to be represented in both the sale of his Bartlett Building loft and his purchase by teammate Wayne A. Willbur of Deasy/Penner & Willbur. Both transactions are reported at http://www.themls.com, MLS# 07-158999 and MLS# 07-153877.

This Saturday, March 24, Wayne and Stephen will be available at Little Tokyo Lofts from 10:00 am to 4:00 pm to show clients units for sale and for rent. Out of 161 units, 51 are still available for sale. They range in price from $325,000 for a 690 sf loft to $1,020,000 for a 2207 sf two-level unit. All come with deeded parking. One 861 square foot west-facing unit with skyline view, walk-in closet and secure, covered parking is available for rent at $1700 per month. Wayne and Stephen can repressent you as a team in either a purchase or lease. Two for the Price of None (Seller/Landlord pays commission)!

Let Stephen (213-804-3800) or Wayne (213-500-0254) know if you’ll be coming by on Saturday, March 24 any time between 10 and 4, so we can arrange a tour for you with the Sales Staff, or just drop by. There is ample guest parking; just pull up to the security station in the alley south of the building and tell the guard you’re seeing Stephen May, Unit 519.

If you want to be assured of a quiet upstairs neighbor, be sure to ask to see Unit 419. It’s a 966 sf corner unit with huge windows and large closet, asking price $495,000, $20,000 less than what Stephen paid for the unit one level above! And Stephen and Wayne will attempt to negotiate some amenities/concessions from the Seller on your behalf.

Hope to see you on Saturday. Drop by or better to call in advance, so we can arrange the all-models tour for you.

Stephen May
downtownlofts@gmail.com
213-221-4514

]]> Comment on Hello world! by Stephen May http://downtownlofts.wordpress.com/2006/12/16/hello-world/#comment-3 Stephen May Wed, 14 Feb 2007 05:00:22 +0000 #comment-3 I, Stephen May, am selling and buying at the same time. I'm selling my loft in the Bartlett Building and buying a loft at Little Tokyo Lofts. I'll publish an article about this in my eNewsletter, which goes out to 950 subscribers. Call me or email me if you wish to subscribe. I, Stephen May, am selling and buying at the same time. I’m selling my loft in the Bartlett Building and buying a loft at Little Tokyo Lofts. I’ll publish an article about this in my eNewsletter, which goes out to 950 subscribers. Call me or email me if you wish to subscribe.

]]> Comment on Hello world! by Mr WordPress http://downtownlofts.wordpress.com/2006/12/16/hello-world/#comment-1 Mr WordPress Sat, 16 Dec 2006 08:20:28 +0000 #comment-1 Hi, this is a comment.<br />To delete a comment, just log in, and view the posts' comments, there you will have the option to edit or delete them. Hi, this is a comment.
To delete a comment, just log in, and view the posts’ comments, there you will have the option to edit or delete them.

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