Actor/director/escort Vincent Gallo is quite the Downtown real estate investor. He picked up the infamous penthouse in the Arts District's Biscuit Lofts for $2.34 million in late 2009; a tipster tells us he paid cash and that it's just one in "a vast real estate portfolio" he owns in the area (including at least one other unit in the Biscuits). Nicolas Cage rented the bananas four-story penthouse in 2008 and we're told he's the only one who's ever lived in it (we also hear he asked Gallo if he could lease it again, but Gallo decided to sell instead).
The penthouse was first put up for sale in February 2011, according to Redfin, but now it's been relisted with a new agent, Frank Bruno of Keller Williams, and totally staged (it was sitting empty before). The unit is 4,300 square feet and has two bedrooms, two and a half bathrooms, an in-unit elevator, an outdoor living area, an outdoor screening area, a private balcony off the master, and a rooftop deck.
HOAs are $874 per month and include three parking spaces, a doorman, a saltwater pool, barbecues, a firepit, and a gym. Last year, the unit was listing for close to $3 million; today it's asking $2.599 million.
· 1850 INDUSTRIAL St #703 [Redfin]
· 1850 Industrial St. #703 [Official Site]
· Nicolas Cage's Biscuit Lofts Penthouse Hits Market [Curbed LA]