Wednesday, August 26, 2009

Rowan Lofts Auctions 19 Units August 29 in Downtown Los Angeles

Rowan ExteriorThe Rowan Lofts in Downtown Los Angeles will be auctioning 19 units on August 29, with below market pricing of $219,000 for studios and $279,000 for one bedroom units. Updated October 13, 2009: Rowan Lofts is 60% sold and has excellent units starting at $219,000. See our full review and pictures by clicking on this link.

This fully renovated building at 5th and Spring Streets in the Old Bank District has 206 units and is the brainchild of Goodwin Gaw, who turned the Hollywood Roosevelt Hotel from dumpy dive to Hollywood hub just a few years ago.

Rowan HallwayUnits in the building have over-sized windows framed in restored Honduran mahogany, Scavolini cabinetry, granite or Caesarstone countertops, Bosch appliances, Toto Vanity sinks in the bathrooms and are eligible for Mills Act reduction in property tax of up to 60%.

Rowan Lofts KitchenHallway floors are lined with Carrera marble. Elevator doors have nickel- and silver-detailed Art Deco elevator doors. They don't build them the way they used to. Concerto, which is also having a one-day sale event at its Lofts building on August 29, has some competition across town. [Rowan Lofts]