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Hollywood's Metropol Sees Bank Switcharoo, Waits on Pricing

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Everyone first met Metropol, a 41-unit project at 6001 Carlton (between Sunset and Hollywood boulevards) in early October, and there are a couple of updates to note. First, prices have come down: Prices now start in the $400,000s (a 920 square foot one-bedroom used to start at $525,000). Additionally, the project's lender, Affinity Bank (the same bank that funded West LA's Exposition), was taken over by the FDIC, which then sold Affinity’s assets and deposits to San Diego-based PacificWestern Bank. Third, if there's any more price changes at the project, which hasn't sold any units yet, it may take a few more weeks. "We’re trying to work with the lender to get more flexibility to reduce the pricing," Joshua White, of development company Tanner & White Properties, tells us. "My goal is to attain more flexibility as soon as December." Meanwhile, there's a collection of boarded-up homes (which were probably charming at some point) that White would like to see demolished by the end of the year. Onward and upward, Metropol.
· More condos for Hollywood, Meet Metropol [Curbed LA]


6001 carlton way, los angeles