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Short Sale Spree Underway at Venice's Brooks Project

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Brooks Avenue Townhomes in Venice, a project we've been tracking over the last two years, was delayed in finishing, and today, five of the six units are listed as short sales--and at least three of those five shorts sales were just listed. The developer behind this project is Woodland Hills-based Heritage Home Development, who also did the project on Pacific Avenue in Santa Monica, another building that had a short sale spree (in that situation, the bank forced the short sale). It's not clear what's going on in the case of Brooks Ave, but in case you're interested, a 2,600 square foot three-bedroom is asking $1,249,900. Unclear if that price includes a lifetime supply of paint that you'll need to cover up the inevitable tagging that'll go up on that nice wall. Meanwhile, one reader who has been inside writes in: "...I saw them during one of the open-houses. They're amazing inside, in my opinion... but they seemed way overpriced, and just really out-of-place in the neighborhood."
· 512 BROOKS Ave #2 [Redfin]
· Short Sale Spree in Ocean Park [Curbed LA]

512 brooks avenue, los angeles