Shy Barry Grand – LA Loft Blog

The SB Grand, also known as the Shybary Grand, was once among the most troubled condominium loft buildings in Downtown Los Angeles. Things have changed. The building that at one point could only be purchased for all cash (due to mixed-use commercial, high renter ratio, previous litigation and incomplete financials) can now be financed with as little as 10% down. #sbgrand #dtla

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With glimmering new modern crystalline ceiling lamps in the now bright, uplifting lobby, the handsome historic building is now gazed upon fondly by the upper-crust patrons of the upscale rooftop restaurant lounge across the street called Perch.

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Also known as the Shy Barry Grand, the building has its own notable rooftop with swimming pool, hot tub spa and sun deck with glorious views drenched in southern California sunshine. With some of the lowest homeowners association HOA dues of any downtown Los Angeles loft building, SB residents can add rented optional parking in the building and still pay less than the average HOA dues in downtown Los Angeles. Friendly 24-hour security front desk concierge, and countless walkable restaurants, bars, pubs, shopping, entertainment (and metro station right next-door), the SB Grand is unsurpassed in urban conveniences. Being on the path between Skid Row and the Pershing Square Metro Station, the building still suffers from a large number of homeless loitering and hubbub on the sidewalks outside, as well as the unusually large numbers of cigarette-flinging renters in the mixed-use condominium building. Those who enjoy urban environment and energy are very fond of the Shy Barry grand lofts. It’s common to see a nice-sized 860 sq ft live/work industrial-style open loft unit with high ceilings and balcony listed for a good price.

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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Broker CalDRE#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.

SEE THE NEW UPDATE ON SB GRAND AT
https://www.laloftblog.com/2017/09/15/sb-grand/

All Downtown Los Angeles loft buildings have issues, but one stands out as possibly the most troubled loft project ever in DTLA. The ShyBary Grand has some advantages: genuine historic lofts at good prices, but the worst thing may be the way it makes one feel.

The Homeowner’s Association does not provide all of the financial documentations that one might expect. Several homeowners have not paid HOA dues in a long, long time. We don’t know what kind of reserves the HOA has or does not have.

Because more than 50% of residents are renters, most lenders will not finance units at SB Grand. When the developer sold the condos, they only sold about 70% of them to real home buyers, and held out around 30% for the developer and other commercial interests to rent out. Weird — it’s the only condo building that has a leasing office. The units rent cheap, and take a long time to rent out. The result is that SB Grand is a condominium that is all but devoid of ownership pride. In fact, the building’s true personality comes out every Spring Break as the pool gets fun and frolicky.

Hectic with a capital HECK! While SB Grand is not in Skid Row, it might as well be, as Skid Row comes to the building nearly all day long every day because the neighboring Metro station is the closest station to Skid Row. Around the SB Grand, the homeless are the least of the problem; the main problem is the almost homeless. That’s where the hectic, frantic situations occur outside. Like a pimp and ho version of General Hospital – How about General Rehab?

Loiterers stand around in front and nearby almost constantly. Many of them are yelling, sometimes obscenities, sometimes threats, sometimes drop to the ground from drug overdoses, sometimes get rescued by paramedics, and sometimes get a gun in the face compliments of undercover Metro police.

Inside the building is a different type of turmoil. The renters sometimes have people over, questionable dealings, sometimes arguments occur in the common areas. The renters sometimes litter in the building and throw cigarettes down onto neighboring balconies below.

Oh, and parking is not included, but the HOA dues are low.

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