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West Hollywood's 1220 Art Lofts Returns, Throws a Party

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Fisheye view of 1220 Art Lofts
What a bumpy history this West Hollywood condo building has had. Originally called CB Lofts, the 12-unit project on Orange Grove in West Hollywood was 90% completed--and attempting to sell three-bedroom townhomes for $1.4 million --before financial trouble hit in 2008. Then last September, the building re-emerged with a new name---1220 Art Lofts--with reduced pricing. It dropped off the radar, only to surface again this week, with the same name, but a new listing agent. According to the agent, right now the project is in receivership (Mosier Co. is the receiver), meaning the bank has asked a third party to essentially babysit the project while its financial issues are sorted out. We don't know all the details here, but from a buyer's point of view, that doesn't always mean much--the Element Lofts project was in receivership when it went to auction, and it sold out. Anyway, there's an open house this week and the units are priced at around $409 a square foot. And the official web site is here. We're told an opening party was planned for last night.

UNIT PRICE SQ/FT.
1 $825,000 1992
2 $785,000 1925
3 $785,000 1925
4 $785,000 1925
5 $765,000 1872
6 $765,000 1872
7 $810,000 1982
8 $800,000 1888
9 $765,000 1877
10 $765,000 1872
11 $860,000 2113
12 $880,000 2191

· 1220 Art Lofts Archives [Curbed LA]

1220 Art Lofts

1220 north orange grove, west hollywood