When two dozen of Downtown’s most dedicated real estate agents received a cancellation note yesterday, they were surprised. Downtown specialist Realtors(R) rely on new Downtown lofts for a large percentage of agent income, and agents feel that buyers who were notified of coming sales early will be let down and distrustful of agent information going forward.
This 2-sentence note accompanied the notice that the agent preview was canceled:
Today’s broker event at Title Guarantee Building has been canceled.
The ownership entity has decided to postpone sales at the property.
Your Chance to Own an Icon: DELAYED
Hopefully, one day, the public will have an opportunity to choose from a selection of historic art deco style lofts for sale in one of the most iconic buildings in Downtown Los Angeles. With views of the park at Pershing Square, the TGB was originally constructed in 1930. The Title Guarantee Building symbolizes the architecture, art and craftsmanship coming out of the gilded age of L.A. From detailed brick and tile work to lush marble, hand-made woodcraft to the lobby’s celebrated Hugo Ballin art murals – this is truly a uniquely authentic residence and a valuable chance to control a slice of historic Downtown. GET NOTIFIED
Title Guarantee and Trust Company Building in the Historic Core
The Title Guarantee and Trust Company Building is an Art Deco style highrise building on Pershing Square in Downtown Los Angeles. Built in 1930, on the site of the California Club building. The building was designed by The Parkinsons who also designed many Los Angeles landmarks, including Los Angeles City Hall and Bullocks Wilshire. Originally an office building, the structure was later converted into lofts. In 1984, the building was listed in the National Register of Historic Places.
After several years of serving as loft rental apartments, the units will be restored to renewed luster before the sale. Renters have praised the great livability of the building and its amazing loft units with high ceilings, multi-level units with mezzanine lofts for excellent separation, in-unit washer and dryers, and quiet between units.
The building has its down sides, including the traffic noise on Hill Street, noise from pedestrians and the busy Perch lounge across the narrow street. The trash shoots travel through some closets, which have no doors, and thus allow noise from the chutes. The valet parking has been a blessing, and sometimes a curse depending on the valet attendants. The entire area around Pershing Square is a base of a large number of homeless people who sometimes camp out in and around the building. The parking lot next door may soon be replaced by a building, which could potentially block views for some units. The fantastic units facing streets and Pershing Square will likely have some protection of the awesome views for some time.
There is no rooftop access, but some of the units have patios. The building units have also received accolades for their concrete floors, updated counter tops and premium stainless appliances.
DELAYED – The new lofts are not yet on sale to the public.
Get notified as soon as the new lofts go on sale. Request early notification. Fill out the online form:
Copyright © 2015 This free information provided courtesy Corey Chambers, Realtor, Realty Source Inc BRE#01889449 We are not associated with the home owner’s association, seller or developer. Not affiliated with Title Guarantee. For more information, contact (213) 880-9910 or visit TheTitleGuarantee.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. Subject to terms and conditions set by the seller and developer. Realty Source Inc is not affiliated with the developer or seller. Certificate for savings of $10,000 off asking price or $1,000 off closing costs is offered to Corey Chambers VIP Buyer Program members only – Details at Save10Grand.com