Sky Loft Secrets – The Truth About the Luxury Tower Condos in the Sky
801 S. Grand Avenue, Los Angeles, CA 90017
While Downtown is famous for its more gritty, authentic industrial loft conversions, many new Downtown residents prefer a more polished condo in a cleaner neighborhood. As a modern day commercial office building that has been converted to finished luxury lofts, Sky Lofts offers a more refined look with more drywall and less exposed plumbing. With enormous windows and dramatic panoramic views, the Sky building stands conveniently between the Financial District, Historic Core and South Park neighborhoods of Downtown.
One of the biggest secrets to finding great deals in Downtown involves the timing around lawsuits. More than 20% of recent listings involve a building that is or has recently been involved with a lawsuit. During a lawsuit, the price can get artificially depressed, providing a better deal for cash buyers, because lenders often have difficulty providing loans during litigation. When the lawsuit is settled, the lenders resume lending, and the equity can get an extra lift. Sky lofts recently settled a lawsuit against the developer.
Some of the current listings may appear a bit over-hyped. Some of the square footage may be overstated. Buyers should always check the tax records to see the square footage listed by L.A. County, and then measure the unit personally to make sure it fits their needs.
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