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Low Pricing, Arts District Hotness Help Sell Out Beacon Lofts

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The Downtown News checks in on the Beacon Lofts, the eight-years-in-the-making redevelopment of a Bekins storage facility in the Arts District, and finds that only one of its 52 units is still available. The building opened last year and seems to have benefited from the lack of inventory and general on-fireness of the neighborhood, though developer Peklar Pilavjian also credits the aggressive pricing of the units--the least expensive units were listed below $300,000. The unit we featured back in January got its asking price of $439,000 after a short time on the market, which follows the trend for other sales in the building. DN seems a little worried about the aggressive use of concrete in the condos, but the new residents they interviewed are quite pleased with their new homes.
· After Eight Years, the Beacon Lofts Finally Shine [DN]
· Live/Work in Arts District's 1920s Storage Warehouse Lofts [Curbed LA]