1100 Wilshire Bends Over: Chase vs 1100 vs Bixel Tower

The homeowners of 1100 Wilshire got what they asked for, but apparently paid an extremely hefty price.

CORRECTION:  The L.A. Loft Blog incorrectly reported that Chase Bank purchased or leased control of 1100 Wilshire guest parking.  The L.A. Loft Blog has since learned that the former guest parking is primarily controlled by the commercial space owner Wilshire Commercial LLC. The free guest parking was lost in connection with ongoing litigation between 1100 Wilshire Property Owners Association and Wilshire Commercial LLC.

Some homeowners have since complained that the problems mentioned in the L.A. Loft Blog (loss of guest parking and reduced maintenance) are caused, not by Chase Bank, but by a rogue homeowners board that has launched expensive lawsuits without majority homeowner approval.  The homeowners board and management believe that they are working in the homeowners best interests to reverse adverse impacts to the homeowners caused by actions of Wilshire Commercial LLC.

1100-wilshire-chase-h-2

What is, for the moment, still among the most respected buildings in the Downtown Los Angeles area has been trying for years to get all of its 3 or so commercial spaces filled up with businesses.  Everything was going great until they gave away the farm to Chase Bank. (Lesson learned: Always be very cautious when dealing with banks because they are naturally the best swindlers out there — for banks, it really is all about the money). Now Chase affects 1100 Wilshire, which you can easily see after they pulled down the 1100 sign, replacing it with the Chase sign.  The sad result so far is that the extra money from Chase does not appear to cover the cost of all of the extra wear and tear on all of the interior areas from the parking and elevator halls to the once-pristine lobby, which is not so pristine any more.  There is so much soil and wear from the foot traffic, that busy maintenance crews now appear to have trouble keeping up.  Worst of all, LA Loft Blog sources say that the HOA actually lost control of its valuable, once plentiful guest parking to the retail owner due to ongoing litigation with the building’s retail space owner Wilshire Commercial LLC.  It’s now a lot harder to have visitors over, so the once-social residents must now kiss their many friends goodbye.

Now the Chase problem is unfortunately only the beginning of 1100 Wilshire’s woes. Homeowners recently called an emergency meeting to try to come up with a strategy to prevent the future blockage of 1100 Wilshire’s pool deck by the upcoming 36-story behemoth Bixel Tower.  1100’s glorious 17th floor sundeck with high-end infinity pool, outdoor kitchens, hot tub spa with views, private party patio, cabanas and fire pit, the entire 17-th floor rooftop sun deck and south-facing units could soon be blacked out by the upcoming Bixel Tower. This will block the natural light and views, thus diminish the property values of 1100 Wilshire condominiums.

Our guess is that the residents of 1100 Wilshire, angry at recent results of dealings with Wilshire Commercial LLC and Chase Bank, will vent their frustrations at Bixel tower, perhaps putting a damper on Bixel’s sky-high aspirations.

Find out what Downtown loft and condo buildings are involved with lawsuits and litigation.  Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

button        button (1)        

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

bixel-blocks-1100-wilshire

Copyright © 2016 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.

Downtown LA Open House LIVE Webcast Periscope at the Bunker Hill Loft

Downtown Los Angeles Real Estate Open House LIVE TV Show on Periscope #dtla #loft

800-w-1st-st-2305-009

WATCH LIVE SUNDAY AUGUST 7 FROM 1:00 PM TO 3:00 PM

corey-brandi-downtown-scope-01 copyThere is only one Bunker Hill Loft, a spacious 2,440 sq ft condo unit surrounded by panoramic views of the Music Center to the skyscraper skyline of Downtown Los Angeles. Those who cannot make it in person to see the open house today, Sunday August 7 from 1:00 PM to 3:00 PM can still view the luxury condominium unit, get inside information and win a $25 Amazon gift certificate for asking the best question about Downtown L.A. or real estate.

Tune in for the tour and see what’s really happening in Downtown Los Angeles as Corey Chambers and award-winning actress Brandi Price Host LIVE Periscope Webcast from an L.A. high-rise loft-style condo. They will show how to avoid the 5 biggest mistakes in Downtown real estate, and reveal how to make the most of one of the world’s hottest markets. Brandi Price is currently away filming on location http://www.BrandiPrice.com.

The latest on what the Downtown L.A. renaissance is all about…

Corey Chambers, the L.A. real estate agent known for buying Downtown Los Angeles lofts for cash, will be broadcasting Downtown’s real estate open house LIVE TV show. Viewers can tune in free to watch at http://www.DowntownScope.com. The broadcast will be transmitted using Periscope and Twitter.

“The show will share the latest on what the Downtown L.A. renaissance is all about,” Chambers said. “As a live TV show, viewers worldwide will get the chance to see what is really happening right now in the most exciting place on Earth.”

800-w-1st-st-2305-048_web

Property details and photos at http://loftla.vflyer.com/home/flyer/home/314126001

Chambers is doing the show because he believes that most real estate agents just do the ABC’s of real estate, and they don’t implement the latest technologies to their fullest. He noticed that a popular loft listed by another agent recently took more than 100 days to sell because the real estate agent Multiple Listing Service was the only significant marketing tool, which is a “lazy way to market real estate” according to Chambers. In addition to the live open house TV show on Periscope, Chambers, who is a veteran computer and satellite systems specialist in the U.S. Air Force, publishes the L.A. Loft Blog, provides the largest number of unlisted lofts and condos for sale in Downtown, and offers the latest technology to buyers and sellers (at no cost to buyers) such as heat map software that instantly shows which homes have positive cash flows, which unlisted properties are likely to sell next, and which properties are in distress and are likely to sell for a bargain price.

As for agents to simply upload their seller clients property to the MLS and then throw a lockbox on the door, “This is nonsense,” Chambers concluded. Don’t real estate agents get paid enough to do more for their clients? Chambers actually guarantees the sale of homes, and also guarantees in writing that home buyers will love their new home or he will buy it back. The seller and Corey must agree on price and time of possession.

Sponsored by the L.A. Loft Blog, the upcoming TV show will dramatize this aggressive marketing. It will take place inside the 23rd floor of a Downtown highrise loft-style condominium with panoramic views of Downtown’s Music Center and Financial District. It’s not, however, merely a show and tell about a single home for sale. The show called “Downtown Scope” will also reveal how to avoid the 5 biggest mistakes in Downtown real estate, as well as tips on how to make the most of the hot Downtown L.A. market.
The L.A. Loft Blog is Downtown’s authority on residential real estate. Interview requests should be directed to Corey Chambers at corey@laloft.org with Downtown Scope in the subject line, or call 213-478-0499 http://www.DowntownScope.com

###

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

button        button (1)        

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

800-w-1st-st-2305-024

Copyright © 2016 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.