Top floor penthouses may fetch sky-high prices.Even in a downtown market where condo buyers keep pushing prices through the stratosphere, the pending sale of two penthouse units at 1100 Wilshire stands out. The two 3,200-square-foot two-bedroom condominiums are each under contract for $2.8 million, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. sources close to the transaction. Both penthouse units are on the 37th floor and have sweeping views of nearly the entire L.A. basin. Forest City West, a subsidiary of Cleveland-based developer Forest City Enterprises Inc., is converting the 37-story tower on the western side of the Pasadena (110) Freeway into condominiums. At $900 a foot, the price would be nearly double the last high of $540 a foot set by developer Jeff Lee's Grand Street Lofts, near the Staples Center This article has multiple issues: * Its neutrality is disputed. * It may contain original research or unverifiable claims. * It does not cite any references or sources. in downtown's South Park neighborhood. In fact, the price tops what homebuyers are paying for condos in nearly every submarket in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County, including Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. , Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Brentwood and Century City. Whereas Lee's project is in a part of downtown attracting billions of dollars' worth of investment, the 1100 Wilshire building is outside of the downtown core and borders the Pico-Union district, one of L.A.'s poorest neighborhoods. Forest City and its partners TMG TMG - TransMoGrifier. An early language for writing recursive descent compilers. It was macroed from the IBM 1604 to the IBM 709 to the IBM 7094 to the GE-635, where it was used by McIlroy and Morris to write the EPL compiler for Multics. and RAD Management haven't yet received permission from the California Department of Real Estate to begin selling units. But the developer is allowed to sign contracts and take deposits for the condominiums. Kevin Rather, a Forest City West senior vice president, refused to comment on the possible sale of the penthouse units. But he said the building is getting lots of interest. "There is a strong appetite for this type of product," he said. Rather expects Forest City West will receive approval from the state Department of Real Estate by the end of June. At that time, the company will be able to sell the units. |
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