Oceanwide Plaza New Photos – DETAILS#oceanwide #plaza
1100 S Figueroa St, Los Angeles, CA 90015
The upcoming new homes for sale in this fancy-schmancy mega mixed-use new project are now progressing under construction full-speed atop a sprawling 4.6 acres parcel across from Staples Center, Los Angeles Convention Center and L.A. LIVE. With nearly 1.5 million square feet, including a whopping 153,000 square feet of retail space, 504 glimmering luxury condominiums for sale will be closely neighbored by 184 Park Hyatt hotel rooms.
The ambitious project is scheduled to be completed at the end of 2018 complete with its own exciting shopping mall of 35 stores ranging from 1,000 to 15,000 square feet. The back of the new center faces the more austere live/work industrial Flower Street Lofts. Get more info on Oceanwide Plaza. Fill out the online form:
The average recently sold Downtown L.A. condominium price is $664,976.
REAL ESTATE NEWS AND MARKET REPORT: At the end of 2015, there were many DTLA lofts listed in the $300,000s. In 2017, there will be almost none. Next year, the starter home lofts will begin in the $400,000s, except for a few tiny studio-size condos. Today, Downtown has many opportunities for those who are looking for a bargain price. Some of those bargains include the distressed lofts at the Higgins Building, the awesome historic Mills Act lofts in the clean, pretty area between the Historic Core and Civic Center neighborhoods. Active, motivated buyers are taking advantage and getting a steal this season while some potential buyers are either scared from the election or dormant for the winter holiday season. Meanwhile, massive expansion of Downtown infrastructure and huge influx of residents continues to place strong upward price pressure. Investment gurus Jim Cramer and others have stated their analysis that prices and interest rates are likely to rise in 2017 and the coming years. The Wall Street Journal has also just weighed in with its forecast of rising prices.
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. — Warren Buffett
The greedy are still raking in the dough in DTLA. Prospective Downtowners and investors can today take advantage of several issues that are temporarily depressing prices. There have recently and currently been a cluster of minor economic panics in Downtown LA. Some sellers have reduced their asking prices of lofts in the Higgins Building due to a new assessment. The prices were reduced some time ago, and some home sellers are giving money to buyers, so buyers are today getting Higgins lofts for up to $50,000 less than they would otherwise cost. The same holds true for units at Evo, Luma and Elleven buildings, as some buyers and sellers are afraid of the HOA lawsuit against the developer, combined with huge new condos being built nearby. These also allow buyers to pick up one of these soft lofts for easily $50,000 below what the prices will be once the dust settles.
Get access to all of the bargain lofts and condos for sale. For a free list of foreclosures, bank owned and other distressed Downtown properties, fill out the online form:
