Monday, July 12, 2010

Concerto and EVO South in Downtown Los Angeles - Say Hello Again to Two Favorite Condo Towers in South Park

This weekend we had the chance to revisit two, grand, new construction buildings in Downtown Los Angeles -- Concerto and EVO South.

We are excited to welcome back our old friend Concerto, where units in the 25-story tower are now on sale.  You may remember that last August, 77 units in the Concerto Lofts (pictured above) were sold at a one day "sales event" (i.e. auction).  Since that time, construction on the tower is nearly completed and units on floors 5 - 20 are now on sale.

Concerto's arrival on market has not been without hiccups.  Developer Sonny Astani and Starwood Capital have been tussling for control of the project (Curbed LA offers outstanding blow-by-blow coverage of this saga, from Concertos' bankruptcy proceedings last fall to Astani's embattled relationship with the lender, which was also covered in depth by the Wall Street Journal.)

Each floor at Concerto from levels 5 - 20 contains 12 units -- 8 one bedroom-1 bath units (730 - 909 sq ft) and 4 two bedroom-two bath units (1158 - 1185 sq ft).  A sample 5th floor one-bedroom is priced at $356,000 for 759 sq ft ($469/sq ft).  A sample 5th floor two-bedroom is priced at $535,000 for 1,179 sq ft ($454/sq ft)

We were really pleased to see that the complex is now coming to life with the filling of the salt-water swimming pool.  The completion of the Tai Chi garden can't be far behind!

Down the street at EVO South, the building's 311 units are 83% sold.  This is an incredible feat, given that the building was marketed during the worst part of the financial crisis, and is a testament to the quality and attractiveness of these units.  A sample 7th floor one bedroom - one bath unit facing the Staples Center is priced at $455,000 for 890 sq ft ($511/sq ft).  A sample 14th floor two bedroom-two bath unit with balcony, facing the Staples Center is priced at $730,000 for 1,160 sq ft ($629/sq ft).

We've always loved the clean simplicity of Evo's units and this four-star, "green" building.  Take a stroll down the wool-carpeted halls or by the amazing sixth-floor pool or into one of the hardwood-floored units and you will understand why.

Concerto - Sold by Keller Williams
EVO South - Sold by the Mark Group