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.

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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.

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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.

What’s Wrong with Downtown Lofts

All Downtown loft buildings have issues that prospective buyers want to be aware of. Think DTLA lofts are cool?  They are, but they’re all far from perfect.  Many have serious problems such as lawsuits and financing problems. Here’s just a few of the issues that buyers should know about:

Raw lofts Downtown LA

1100 Wilshire – Chase Bank wear. Lawsuits reduced maintenance. Dwindling reserves.
655 Hope – Claustrophobia. Windows don’t open. No guest parking.
Alta Lofts – Notice of claim. HOA to sue developer – construction defects. Theft.
Barker Block – Lawsuit. HOA suing developer for construction defects.
Bartlett Building – No parking space included.
Barn Lofts – Free street parking is going away.
Beacon Lofts – Nobody knows what it is. No staff.
Biscuit Company – No metro nearby. Getting hard for guests to park.
Bunker Hill Tower – High HOA dues. No washer-dryers in most units.
Concerto Lofts – Lawsuit. HOA suing developer – construction defects.
Cornell Building – Most parking spaces are a block away in skid row.
Douglas Building – Most units have no parking. No guest parking.
Eastern Columbia – High HOA does.  Views being blocked.
Eckardt Building – Most parking spaces are a block away in skid row.
El Dorado Lofts – No amenities. Nobody knows what it is.
Elleven Lofts – No fitness center. Shares pool and courtyard with Luma.
Evo – Lawsuit. HOA suing developer for construction defects.
Flower Street Lofts – No views and losing views. HOA dues rising.
Glen Donald Building – Not in Downtown.
Gallery Lofts – Construction next door.  Mostly no views.
Grand Avenue Lofts – No character. No amenities.
Higgins Building – High HOA. Coming assessment. No parking. No amenities.
Library Court – No character. Most have no views.
Little Tokyo Lofts – Homeless shelters.  Mental clinic.  Lawsuit.  Water leak.
Luma – Losing views. Glut. Expensive.

New condos by the river suffer from freeway noise


Market Lofts – No character. Unfriendly security.
Metropolis Los Angeles – Not built yet.  Expensive.  China company.
Molino Lofts – Terrace problems.  Some units not updated.
Mura Condominiums – Not a loft. Oppressive rules.
Ocenwide Plaza – Not built yet. Stuck in big event traffic.
Ostrich Farm Lofts – Far away.  Out in the tulies.
Pan American Building – Nothing for sale.  Nobody has heard of it.
Promenade Condominiums – The 80s called. They want it back.
Promenade West – Expensive.  High HOA dues.
Puerta Del Sol – Disrepair. Nothing to walk to.  Freeway. Black lung disease?
Ritz Carlton Residences – Expensive HOA. Mandatory valet parking.
River House – Freeway noise. Boxy architecture. Delays. Prowling coyotes. Gnats.
Rowan Lofts – High HOA dues. Most have no views.
Santee Village – Most parking spaces are a block away in skid row.
Savoy Condominiums – Not s loft. No character. Some have no views.
SB Grand – Loiterers, renters galore. HOA financials incomplete. Many issues.
Skyline Condominiums – 1980 wants its condos back.
Sky Lofts – No pool. High HOA dues.
SL70 – Not in Downtown. No pool.
Ten50 – Not completed yet.  Cramped floorpans. No microwave.
Teramachi Homes Senior Condos – Gotta be a senior age 55+.
Textile Building – Nothing really available.  Can’t lease it out.
Title Guarantee – Canceled.
Tokyo Villa Condominiums – 1979 wants its condo back. Weird koi pond courtyard.
Toy Factory – No metro nearby. Slowly losing its street parking. No guest parking.
Toy Warehouse – Noisy floors and thin ceilings.
Vero – Not in Downtown. No character. Most have no views. Thin walls.

Beacon Lofts – Little-Tokyo – Downtown – Avoid Buyer Traps!

LIST OF DOWNTOWN LOFT BUILDINGS AT LALOFTBUILDINGS.COM

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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449  Not associated with the homeowner’s association, seller 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.

Based on information from the Association of REALTORS®/Multiple Listing as of [date the AOR/MLS data was obtained] and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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