The residential units now underway in Downtown are predominantly rentals, so when a rare opportunity to buy in a handsome repurposed brick factory in a rapidly-gentrifying area presents itself, people jump on it: For the total 68 units that will be available in the newest addition to the Arts District's Barker Block, codeveloper KOR says there are 2,800 people on the waitlist, reports broker/blogger Brigham Yen. (Of the 5,000 new units in the making in Downtown right now, these are the only ones up for sale.)
There are just 15 units going up for sale this weekend, but we're imagining the scene as lively-auction-meets-Black-Friday, with people elbowing and outbidding each other for a chance to own. Says Yen: "Twelve units will be open-style loft units ranging in size from 679 to 995 square feet and the remaining three units will be stunning two-story townhomes ranging from 1232 to 1355 square feet." The price of ownership starts at $400,000 and comes with access to all the goodies in the first phase of Barker Block (pool, gym) and parking.
· Barker Block Phase 2: First Look Inside Downtown LA's Newest Condos Coming to the Arts District [DTLA Rising]