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Ain't It Grand: 801 S. Grand On Sale

The conversion of modern offices to loft units at 801 S. Grand has garnered some iffy responses from the posters on the LoftLA message board. One reader questions why the units on sale haven't been snatched up yet like the units at Elleven or Luma a few blocks away. Location? Lack of amenities? Pricing? All of the above?

I think it hasn't sold out because it's priced a bit higher and there's no pool/bbq area. The pricing seemed a little strange to me, those 1 bedroom 1066 sq feet units shouldn't be priced above 700. Also the corner units, which everyone seemed to want, should be priced a little higher. The location of the building is perfect though, I was thinking about getting a place there... And then there's this from another poster... As a downtown real estate agent I've seen a shift from investor to people who really want to live in an urban environment. Prices are too high for most small time spec buyers and not low enough anymore to lure suburbanites. Lots of people have missed the boat. I have several people looking for a loft under 400K. I wish I could put them in a time machine and send them back 18 mos. But would they have wanted to buy back then? It always hurts to hear you've missed the boat. Maybe prices will come down when this damn bubble finally bursts.
· Has anyone bought a unit here? [LoftLA.com]