Last week, a reader submitted a question about the apparently vacant building at Sunset and La Cienega owned by LA Clippers owner Donald Sterling. Amongst the many comments about what a tightwad he is, we also got some answers - crazy answers! But here's one we got via email: "When there is a lot with just a billboard on it on the Strip, the value of the billboard is often said to EXCEED the value of the land. When you have a billboard in a very prominent high-prestige location, and if you have a small building with no parking underneath, which is the case with the Sterling's building at Sunset-Miller-La Cienega site, there is really no incentive to rent it. Billboards are maintained by the billboard companies, so the money just flows in with no problems at all."
"Similar situation with the infamous building now with painted black plywood over at the NE corner Santa Monica & Doheny - the billboard company has no intention of putting a tenant in... keeps it in a state of suspended disrepair.
...I would love it if a member of the press pinned them down on why they think it is OK to maintain an eyesore like this at a major corner that is the gateway to a community. I think the costs to renovate a building to bring up to code for new tenant could be high but even so, even with no parking, this would be a high visibility site that the right tenant would kill for."
· What's Up With That: WTF Donald Sterling's Buildings??? [Curbed LA]
Loading comments...