The owners of the Brownstone Lofts, that brick Angelino Heights condo building visible from the 101, have fallen into bankruptcy, reports Eastsider LA. The developers have been working since as early as 2009 to convert the 55 unit building (built in 1928) into "pricey loft-style condos" (with a pool!). Back in November, Eastsider caught wind of a lawsuit involving construction contractors, which the owner, Brownstone Lofts LLC, credited with delays in project completion. The real story, Eastsider discovered yesterday, was that Brownstone Lofts LLC had filed for Chapter 13 bankruptcy in September. A consultant with Brownstone says there may be a potential buyer. In November, an agent for the project said that 14 buyers had laid down deposits for the project, with asking prices set upwards of $1 million.
· Angeleno Heights loft-style condo project falls into bankruptcy [Eastsider LA]
· Condos and pool remain unfilled at Angeleno Heights development [Eastsider LA]