Thursday, May 14, 2009

Barker Block Discounts Units - 510 S Hewitt Street Downtown

South Hewitt Street Downtown LA

S Hewitt Street Downtown LA

Today, Barker Block, a project developed by the Kor Group in the Downtown Arts District, is releasing discounted pricing on some units.

Recently, they offered to buy down interest rates and to pay homeowners dues for a year. In the competitive Downtown market, the developers are ready to bargain.

There is a variety of floorplans, with some of the larger units built on two levels. With many units priced $300,000 - $400,000, this complex offers quality and value.

Barker Block Pool
Barker Block Pool

Downtown, and the gritty, hip Arts District are not for everyone. This is a cool, pioneering area of the city, not too far from Skid Row.

The Kor Group, developers of nearby Molino Lofts, the Broadway Hollywood, and the Eastern Columbia lofts, have brought a community to what was formerly a dormant, factory and warehouse district in the east part of Downtown.

But with Urth Caffe, a Downtown outpost of the famed West Hollywood establishment opening its doors, civilization is just a latte away.

Converted from a former furniture factory, this project offers true loft living, complete with original brick walls, sand-blasted wood beams and a large scale reminiscent of the building’s original, industrial use.

Barker Block Unit #238
Unit #238

I had the opportunity to view a few of the offerings on a recent tour. #238 is a second floor, east-facing unit, with about 1,000 sq ft, currently priced at $369,000. This unit, like other east-facing units on floors 1 – 4 in this part of Barker Block, looks onto an attractive – but close – brick industrial building, to be developed in the future into lofts.

Barker Block Unit #331
View from Unit #331

West-facing #331 looks onto the hustle and bustle of S Hewitt Street with a panoramic view of the Downtown skyline and is priced at $459,000. (The west-facing units are priced at a premium). It has a small patio, 1,120 sq ft, and higher-than-normal 11-foot ceilings.

Barker Block Unit #534
Unit #534

Unit #534, priced at $389,000, seems to be a particularly good value. This top floor, east-facing unit has high vaulted ceilings (and no one living above). It clears the adjacent brick industrial building and has an unobstructed urban rooftop view, with the snowcapped mountains visible on a clear day.

Barker Block has a hotel-like rooftop pool and a fitness center. Appliances are Jenn-Air (refrigerator is not included). Floors are hardwood. Bathrooms are clean and well-appointed. Units come with washer/dryer hook-ups and their own heating-AC units. Bring your armoire – there is little to no closet or storage space.

You may do a lot of walking. The garage is on the east side of the bock. The units currently for sale are close to Palmetto Street on the west side, a long distance away.

HOA dues are around $360 for a 1,000 sq ft unit. There is no concierge or 24-hour security. Small units come with one parking space; larger units with two spaces. HOA covers maintenance, gas and window washing a few times a year.

Bottom Line: An experienced developer brings a cool, moderately-priced building to market in a funky, up-and-coming neighborhood. Artistic acolytes and creative non-conformists follow.

Exclusively represented by the Mark Company.