If vacancy levels in downtown were tight a few months ago, several rental projects (like Union Lofts and 717 Olympic) have come online. Tina Dupuy, the editor of web site Fishbowl LA went on a fact finding mission for lofts in downtown and sent the following email.
---"Union Lofts: 25% full. We looked at units around $1,800 and they were 630 square feet. Tiny. Pricey. Dank. Very little closet space. No tub. My husband and I determined that they are about $300 over-priced. And we think we're being generous...
--Chapman Flats: They've been rentals for - what - less than a week? They have 4 units rented. One by a couple that had bought the unit and when the deal went away had to no other place to stay. None of the Chapman Flats units are over 800 square feet (save the tiny penthouse which is 1000). Depending on what floor you want they go from $1600-$2200. The renovations are stunning. Very small though.
---Gas Lofts: At 90% capacity. We guessed that we didn't get to see the nicer units - because they were occupied.
---PE Lofts: Also at high capacity. If you like zebra print - its a great place to be.
All of the places we saw gave one month free rent with a 13 month lease. So they would give you the price in either a pro-rated term or the regular one. It's odd having several conversations in a row that seem peppered with asterisks."
· Breaking: Downtown's Chapman Flats Goes Rental [Curbed LA]
· Rental Pulse: Union Lofts' Studios Start at $1,189 [Curbed LA