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Short Sale Spree at Pacific Street at Ocean Park

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Back in October 2008, there was a tour of units and the kitchen cabinetry at the five-unit Pacific Street Townhomes at Ocean Park in Santa Monica (126 Ocean Pacific). Four of the five townhomes, listed last year at $1.29 million to $1.79 million, are now listed as short sales on Redfin, but all the units are also listed as "looking for back-up offers." Aaron Levine, the real estate agent repping the project, says that the bank forced the short sale, but the developer, Woodland Hills-based HHLL Development still owns the property, so it wasn't a foreclosure. Which bank was used as the lender wasn't immediately clear. Meanwhile, the same developer is behind the forthcoming Brooks Avenue townhomes in Venice, which is still under construction.
· Cabinet Lesson At Pacific Street Townhomes [Curbed LA]
· Construction Watch: Venice's Brooks Avenue Townhomes [Curbed LA]