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Auction Process Not Dead, Little Tokyo Lofts Looking to Unload

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The latest to hold an auction is downtown's beleaguered Little Tokyo Lofts. A pioneer of a building, the project was a little too close to Skid Row for some buyers, but perhaps the opening of places like restaurant Lazy Ox are changing perceptions about this area of downtown. An auction for the last 23 units is being held on Sunday, November 21 at the Downtown Sheraton, and starting bids begin at $75,000, which really sounds like Monopoly money. On the higher end, a 2,207-square foot unit that was priced at $1.02 million will have a starting bid of $240,000. The company holding the auction is New York-based Sheldon Good & Company. You can download more info off the web site below. The downloadable brochure mentions the $20 "Bidder’s Information Packet" one must buy to participate, but it's not clear if this auction shows published reserves or not.
· Auction--Little Tokyo Lofts [Official Site]
· Little Tokyo Lofts Archives [Curbed LA]

Little Tokyo Lofts

420 S San Pedro St, Los Angeles, CA 90013