Following the conversion of Chapman Flats and Larchmont Lofts from sales buildings to rental buildings comes the news that Universal Lofts, that 67-unit development wedged on the land between the 101 and Cahuenga Boulevard, has fully joined the rental game. A keen-eyed reader writes: "Drove past the Universal Lofts today; there's a NOW LEASING sign plastered on top of the original sign. Looks like they couldn't sell these for a $1M." Granted, some units were available for rent last year, but Amir Haber, the developer, tells Curbed the decision to go from a rental or "lease to own" building was made recently. Rents start at $4,250. In the gallery: A 2,400 square foot building that's available for $5,550. A commenter pointed out in the Larchmont Lofts thread that these rents are basically as high as a monthly mortgage payment. Uhm, yeah.
· Construction Watch: Universal Lofts [Curbed LA]