shy barry – LA Loft Blog

Industrial Style Condominium High Ceilings SB Grand Lofts 312 W 5th St

OPEN HOUSE SATURDAY – Enjoy Downtown life in a spacious historic open floor plan. 860 Sq Ft Modern open loft with fantastic NYC-like character on Broadway and Historic Core. Private balcony facing original brick light well. Modern kitchen with stainless steel appliances open to the living area. Beautiful wood floors. Washer and dryer in unit. Large soaking bath tub. Open and airy living space with vaulted high ceilings of concrete character, A/C and heat. #sb #lofts #dtla

Shybary Grand Lofts Building Downtown Los Angeles Rooftop Pool

Excellent downtown location near Farmers Market, Grand Central market. Minutes to Whole Foods, Ralph’s and great shopping and dining. This happy historic building features 24-hr security front desk concierge, fitness room, rooftop sun deck, pool, hot tub with panoramic views of the Downtown Los Angeles skyline. Wired for cable and Internet. Low HOA dues. Pets okay. Great for Downtown live/work! Parking in building available. By Metro station, Pershing Square concerts in Summer and ice skating Winter. Stroll through the renaissance of Broadway, with coming street car as part of the Bringing Back Broadway project. Call Corey (213) 880-9910.

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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 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.

SB Grand

It is perhaps the most troubled and challenged loft building in Downtown Los Angeles.

With more than 50% renters, the mixed-use condominium, commercial and rental apartment building has previously had difficulty obtaining any home financing. For years, all transactions had to be cash only. Today, the situation has improved, as a precious few lenders will finance the building with 20% down or more.

Outside the building, the sidewalks are frenetic and sometimes frantic as the homeless, near homeless and other busy Downtowners go to and fro, and also loiter around Metro station next door. Occasionally, the homeless will drop in front of the door from drug overdoses or mentally ill will shout threatening verbiage, only to be quickly arrested by plain clothes metro police.

The large number of renters who live in the building can be fun, feisty and more flaky than the condo owners, with just a bit more littering in the building and with cigarette butts dropped on neighboring balconies below.

The homeowners are in a somewhat precarious position as SB Grand has had more homeowners fail to pay HOA dues, and the HOA Homeowner’s Association lacks some of the paperwork that most HOAs provide to sellers and buyers.

The L.A. Loft Blog has received word that a 710 sq ft loft with a view and bed area separation may be coming onto the market soon. The units sometimes come up for sale first as a pocket listing.

For sellers in the building, they may need to allow for longer selling times as several recent transactions have taken between 134 and 234 days to close. Many agents are not aware of the lenders who will provide mortgages for buyers of SB Grand lofts. Failed lending is one of the most common disasters in SB Grand home sales. It is easy to prevent by using an agent who has provided faster-than-average transactions in the building.

Find out about unlisted lofts, pocket listings and other off-market properties in Downtown Los Angeles. Get a free list with pictures and descriptions. Fill out the online form:

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LOFT & CONDO LISTINGS DOWNTOWN L.A. [MAP]