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Market Blues: Downtown's Brockman Goes Rental

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[Under construction: Brockman back in July]

The Brockman, that 1921 Beaux Arts building at 530 W. Seventh, is the latest planned condo project to go rental. And, we imagine, there will be even more of these downtown condo-rental switcharoos. Rents for the 80-unit building range from $1,450 to $6,500 for the penthouse, says building rep April Fissell. She says: "Half of our units were in contract..but then the lender told us that about 20 people who were pre-qualified for a loan were no longer qualified." The news was first noted by downtown blog Angelenic, who reports there's a big kick off rental party this weekend at the building. This development follows downtown's Chapman and Artisan on Second in going rental.
· the brockman opens amid worsening market, goes rental [Angelenic]
· Downtown's The Brockman Opens Its Doors [Curbed LA]

Brockman Lofts

530 W. Seventh St., Los Angeles, CA