Wednesday, March 24, 2010

El Dorado Lofts in Downtown Los Angeles: 1914 Hotel Conversion Brings Craftsman-Era Magnificence to Old Bank District

El Dorado Lofts FrontEl Dorado Lofts at 416 S Springs Street in Downtown Los Angeles will not be auctioning 44 of its 65 units at an event on April 25, 2010. Update 4/16/10: The auction has been canceled because of delays in the building obtaining a Certificate of Occupancy (per developer). The units will be sold through a traditional sales office, with prices starting at $280,000 for a 1 br-1 ba (848 sq ft) and $386,000 for a 2 br - 2 ba (1,176 sq ft).

Floorplans of this 12-story building range in size from 848 sq ft to 1,394 sq ft. HOA range from $456 - $622. Parking is not included with the purchase, but the building has a perpetual and exclusive parking easement with Bankhouse Parking Structure on 4th Street.

Located in the Old Bank District next to the Rowan Lofts and future Spring Street Park, the refurbished El Dorado Lofts hark back to a bygone era when this neighborhood was known as "Wall Street of the West".

The developer is Goodwin Gaw, responsible for the Rowan Lofts, the Hollywood Roosevelt Hotel, and in a large part revitalizing residential Downtown.

El Dorado Lofts LobbyThe grand lobby was a bustling hub for businessmen and frequent travelers, and a "much-proclaimed venue for local social events."

The El Dorado is certain to be full of life nearly a century later and a great addition to emerging Downtown scene. Be sure to grab a Burgundy or Malbec at the Must Wine Bar and small plates at the innvotiave eatery The Gorbals just down the block.

Batchelder TileDozens of tiles from the Pasadena-based Batchelder Tile Factory, harbingers in the Arts and Crafts movement, cover the lobby walls.

There are a couple of negatives -- the ceiling height feels low in some of the units and some of the new, exterior balconies feel a little rickety.

Regardless, the El Dorado's features are extensive and impressive:
  • Bosch appliances with stainless steel finishes
  • Granite countertops
  • Grohe kitchen faucet
  • Double-compartment Franke sinks
  • Snaidero Italian bathroom cabinets
  • Soaking tubs
  • Toto bath faucet and shower sets
Clean, clean, clean ... and plenty of space to spread out in the 2 bedroom units.

And this view is amaze-balls!

El Dorado Lofts
416 S. Spring Street
Los Angeles, California 90013