HomeDiagramsDatabaseMapsForumSkyscraper Posters
     

Go Back   SkyscraperPage Forum > Global Projects & Construction > City Compilations

Reply

 
Thread Tools Display Modes
     
     
  #8681  
Old Posted Dec 2, 2017, 5:35 PM
Easy's Avatar
Easy Easy is offline
Registered User
 
Join Date: Dec 2004
Location: Los Angeles, CA
Posts: 1,144
Quote:
Originally Posted by caligrad View Post
If there is any form of slow down with Metropolis, that might be a good thing.

If I remember correctly, Greenland was advertising Metropolis heavily in China and pretty much giving them first dibs on the condos and etc. People on here were mad saying "Metropolis is going to end up being a ghost project for people to park their money but not to actually live in it".

Well. If China is serious about its crackdown on the flow of assets/investments leaving the country, that might be the reasoning for any form of slow down with this specific project. I remember at one point tower 1? 2? (The first residential tower) was at like 60% taken before it was even topped out but mostly to foreign, Chinese, buyers. So. If they aren't buying anymore, that means we have a better chance of getting that project filled with people who actually live here. If that makes sense.....
Regarding Metropolis, I recall the same thing. Metropolis Tower 2 (the first condo tower) and Ten50 finished at about the same time. Metropolis said that they were concentrating sales in China. I think that they used wording indicating that many units were reserved for Chinese buyers only, which sounds illegal. Meanwhile Ten50 focused on sales to locals and is now sold out or close to it.

Last edited by Easy; Dec 2, 2017 at 9:08 PM.
Reply With Quote
     
     
  #8682  
Old Posted Dec 4, 2017, 6:36 PM
SoCalKid SoCalKid is offline
Registered User
 
Join Date: Jul 2012
Posts: 301
Quote:
Originally Posted by Easy View Post
Regarding Metropolis, I recall the same thing. Metropolis Tower 2 (the first condo tower) and Ten50 finished at about the same time. Metropolis said that they were concentrating sales in China. I think that they used wording indicating that many units were reserved for Chinese buyers only, which sounds illegal. Meanwhile Ten50 focused on sales to locals and is now sold out or close to it.
They absolutely didn't reserve units for Chinese buyers only. There would be zero reason to do that. They likely pre-sold some (to both domestic and foreign buyers), but didn't set any aside with the purpose of finding exclusively Chinese buyers.
Reply With Quote
     
     
  #8683  
Old Posted Dec 6, 2017, 8:58 AM
Resident Resident is offline
BikeMike
 
Join Date: Dec 2015
Location: Miracle Mile, formerly DTLA
Posts: 193
Quote:
Originally Posted by Easy View Post
Meanwhile Ten50 focused on sales to locals and is now sold out or close to it.
Ten50 has 15 left as of a week ago.
__________________
The best facebook development group out there:

Real DTLA Development Group
Reply With Quote
     
     
  #8684  
Old Posted Dec 7, 2017, 8:52 PM
caligrad's Avatar
caligrad caligrad is offline
Registered User
 
Join Date: Nov 2013
Location: Long Beach
Posts: 1,262
The "Final 15" has been on their website since September and its never really been a solid 15. Its currently listing 13 and out of that 13, 4 are listed as sold which means 9 are left and when you call the number to enquire, they list you 6 left in the building.

So 6-9 out of 151 units is in fact "sold out or close to it".

A friend of mine who works at a 400+ unit apartment community in Long Beach told me that management companies always want a percentage of units avalible to be able to move people around if needed for accomodation purposes, to always have a unit to show to potential future buyers and also to be able to flex pricing around. I wouldnt expect much difference from Ten50 to have a few units available for the same. In his community of 400+ units, he said they alway make sure to have atleast 10-20 open. So if they are listing 9 and when you call, telling you 6, i would assume 3 are those "open" units for ten50.
Reply With Quote
     
     
  #8685  
Old Posted Dec 7, 2017, 9:39 PM
SoCalKid SoCalKid is offline
Registered User
 
Join Date: Jul 2012
Posts: 301
Quote:
Originally Posted by caligrad View Post
The "Final 15" has been on their website since September and its never really been a solid 15. Its currently listing 13 and out of that 13, 4 are listed as sold which means 9 are left and when you call the number to enquire, they list you 6 left in the building.

So 6-9 out of 151 units is in fact "sold out or close to it".

A friend of mine who works at a 400+ unit apartment community in Long Beach told me that management companies always want a percentage of units avalible to be able to move people around if needed for accomodation purposes, to always have a unit to show to potential future buyers and also to be able to flex pricing around. I wouldnt expect much difference from Ten50 to have a few units available for the same. In his community of 400+ units, he said they alway make sure to have atleast 10-20 open. So if they are listing 9 and when you call, telling you 6, i would assume 3 are those "open" units for ten50.
Incorrect. Condos are very different from apartments. With apartment buildings, having a handful of units available for showings (model units) allow you to keep the rest of the units better occupied . With condos, once you sell a unit that's it, you don't own it anymore. Condo developers absolutely try to sell all of their units as quickly as possible. Ten50 is not keeping any units "open".
Reply With Quote
     
     
  #8686  
Old Posted Dec 8, 2017, 7:44 AM
Resident Resident is offline
BikeMike
 
Join Date: Dec 2015
Location: Miracle Mile, formerly DTLA
Posts: 193
Ok. They have 9 left. Doesn't change my point that they are selling quite well. Two of the final 9 are Penthouses that might last a while.

And no, they do not hold any condo open for "models." Especially not when they are at the final numbers. Maybe when they had 150 for sale they would have 3 "Models" for showing what a furnished unit would look like.
__________________
The best facebook development group out there:

Real DTLA Development Group
Reply With Quote
     
     
  #8687  
Old Posted Dec 8, 2017, 3:46 PM
colemonkee's Avatar
colemonkee colemonkee is offline
Ridin' into the sunset
 
Join Date: Nov 2004
Location: L.A. - Skid row adjacent
Posts: 7,226
And this is totally anecdotal, but driving by Metropolis last night on the way to meet some friends downtown, there were a lot of lights on in the first residential tower, and it looked pretty well-occupied, more so than Watermarke or Apex 1 down the street. I haven't looked up actual sales figures for Metropolis, but either Phase 1 sold out pretty well on the west and south facing sides, or they are turning the lights on to make it look more sold out (doubtful).
__________________
"Then each time Fleetwood would be not so much overcome by remorse as bedazzled at having been shown the secret backlands of wealth, and how sooner or later it depended on some act of murder, seldom limited to once."

Against the Day, Thomas Pynchon
Reply With Quote
     
     
  #8688  
Old Posted Dec 8, 2017, 7:13 PM
Steve8263's Avatar
Steve8263 Steve8263 is offline
Registered User
 
Join Date: Apr 2015
Posts: 176
Quote:
Originally Posted by colemonkee View Post
And this is totally anecdotal, but driving by Metropolis last night on the way to meet some friends downtown, there were a lot of lights on in the first residential tower, and it looked pretty well-occupied, more so than Watermarke or Apex 1 down the street. I haven't looked up actual sales figures for Metropolis, but either Phase 1 sold out pretty well on the west and south facing sides, or they are turning the lights on to make it look more sold out (doubtful).
Your speculation appears to be accurate-

https://www.wsj.com/articles/why-the...own-1512658346

Greenland USA started construction in 2014 on Metropolis in Los Angeles’s South Park neighborhood. The first of four towers, with 308 condos, is almost 80% sold for an average of $1,100 a square foot, according to Mike Leipart, managing partner at the Agency, the real-estate brokerage handling sales.
Reply With Quote
     
     
  #8689  
Old Posted Dec 8, 2017, 10:15 PM
SoCalKid SoCalKid is offline
Registered User
 
Join Date: Jul 2012
Posts: 301
Quote:
Originally Posted by Steve8263 View Post
Your speculation appears to be accurate-

https://www.wsj.com/articles/why-the...own-1512658346

Greenland USA started construction in 2014 on Metropolis in Los Angeles’s South Park neighborhood. The first of four towers, with 308 condos, is almost 80% sold for an average of $1,100 a square foot, according to Mike Leipart, managing partner at the Agency, the real-estate brokerage handling sales.
https://www.bisnow.com/los-angeles/n...tropolis-72838

Interesting, they said they were 80% sold way back in April...
Reply With Quote
     
     
  #8690  
Old Posted Dec 8, 2017, 10:44 PM
caligrad's Avatar
caligrad caligrad is offline
Registered User
 
Join Date: Nov 2013
Location: Long Beach
Posts: 1,262
Quote:
Originally Posted by SoCalKid View Post
Incorrect. Condos are very different from apartments. With apartment buildings, having a handful of units available for showings (model units) allow you to keep the rest of the units better occupied . With condos, once you sell a unit that's it, you don't own it anymore. Condo developers absolutely try to sell all of their units as quickly as possible. Ten50 is not keeping any units "open".
OH I thought Ten50 was Leasing. Even better. When you call they make it sound like a leasing office haha.

Seeing how its nearly completely sold out and sold out quickly, you would assume that developers would take notice of these projects and finally see that LA, Downtown specifically, is a viable area to build condo towers and that they would be sold rather quickly, minus any economic setback.

Quote:
Originally Posted by Resident View Post
Ok. They have 9 left. Doesn't change my point that they are selling quite well.
I wasn't going against you LOL I was just updating that it is doing very well. And just saying the "final 15" has been on their website for a while now.

Last edited by caligrad; Dec 8, 2017 at 10:55 PM.
Reply With Quote
     
     
  #8691  
Old Posted Dec 8, 2017, 11:16 PM
SoCalKid SoCalKid is offline
Registered User
 
Join Date: Jul 2012
Posts: 301
Quote:
Originally Posted by caligrad View Post
OH I thought Ten50 was Leasing. Even better. When you call they make it sound like a leasing office haha.

Seeing how its nearly completely sold out and sold out quickly, you would assume that developers would take notice of these projects and finally see that LA, Downtown specifically, is a viable area to build condo towers and that they would be sold rather quickly, minus any economic setback.


I think the problem is that there are so many condos coming online in the next year or two that people are hesitant to develop any more (Downtown that is). Metropolis still has another ~1,200 in it's last two buildings, Oceanwide is another 500, and then there's 200 more in 1133 Hope Street. Ten50 sold well, but it was only ~150 units; the market will have absorb more than 12 Ten50s worth of condos in the next few years just to get through what's already under construction. Crazy that all of those units are within a couple blocks of each other also.
Reply With Quote
     
     
  #8692  
Old Posted Dec 19, 2017, 1:10 AM
Steve8263's Avatar
Steve8263 Steve8263 is offline
Registered User
 
Join Date: Apr 2015
Posts: 176
Minor update out there in Metroland-

-House of Blues hotel project getting a tower crane installed today.

-Also a photo here of what's hopefully more prep for the Century Plaza towers-

https://twitter.com/WebcorBuilders/s...88437852209153

Reply With Quote
     
     
  #8693  
Old Posted Dec 22, 2017, 6:06 AM
RaymondChandlerLives's Avatar
RaymondChandlerLives RaymondChandlerLives is offline
Registered User
 
Join Date: May 2014
Location: Los Angeles, CA
Posts: 68
Don't know if its been mentioned yet, but the mondo big Academy Square project just south of the arclight theater is prepping for construction.

Saw some bulldozers pushing dirt at the site this afternoon.
Reply With Quote
     
     
  #8694  
Old Posted Dec 23, 2017, 11:30 AM
saybanana saybanana is offline
Registered User
 
Join Date: Jul 2012
Location: Southern California
Posts: 97
Here is news about possible expansion of Hilton Hotel for Universal City.
https://urbanize.la/post/universal-c...tory-expansion
Reply With Quote
     
     
  #8695  
Old Posted Dec 23, 2017, 7:57 PM
ChelseaFC's Avatar
ChelseaFC ChelseaFC is offline
Registered User
 
Join Date: Apr 2011
Posts: 621
New JFS Center in Fairfax/Mid-City underway



https://www.jfsla.org/capital-campai...unther-center-
Reply With Quote
     
     
  #8696  
Old Posted Dec 26, 2017, 7:37 AM
user2468 user2468 is offline
Registered User
 
Join Date: May 2011
Location: Los Angeles, CA
Posts: 91
Koreatown construction update, more specifically the northwestern part of Koreatown. Over a dozen projects in the area that are either underway or fenced off. There was no way that I could get to all of them at once, but these represent a large number of developments in the area. Enjoy!

340 N. Oxford Avenue #1 - 12/25/2017 by Juan Gomez, on Flickr

340 N. Oxford Avenue #2 - 12/25/2017 by Juan Gomez, on Flickr

This project, completed last year, deserves an honorable mention for the simple fact that it was the first new development on a two-block stretch of Oakwood Ave between Western Ave and Wilton Pl. Since then, over half a dozen lots have undergone or are undergoing redevelopment, which can be seen below.
4708 Oakwood Avenue - 12/25/2017 by Juan Gomez, on Flickr

4731-4733 1/2 Oakwood Avenue - 12/25/2017 by Juan Gomez, on Flickr

4814 Oakwood Avenue - 12/25/2017 by Juan Gomez, on Flickr

4813 Oakwood Avenue - 12/25/2017 by Juan Gomez, on Flickr

4826 Oakwood Avenue - 12/25/2017 by Juan Gomez, on Flickr

4833-4847 Oakwood Avenue #1 - 12/25/2017 by Juan Gomez, on Flickr

4833-4847 Oakwood Avenue #2 - 12/25/2017 by Juan Gomez, on Flickr

4833-4847 Oakwood Avenue #3 - 12/25/2017 by Juan Gomez, on Flickr

4858 Oakwood Avenue #1 - 12/25/2017 by Juan Gomez, on Flickr

4858 Oakwood Avenue #2 - 12/25/2017 by Juan Gomez, on Flickr

5016-5030 Rosewood Avenue - 12/25/2017 by Juan Gomez, on Flickr

5016 Rosewood Avenue - 12/25/2017 by Juan Gomez, on Flickr

5030 Rosewood Avenue - 12/25/2017 by Juan Gomez, on Flickr

5122-5128 W. Maplewood Avenue - 12/25/2017 by Juan Gomez, on Flickr

501-543 N. Wilton Place #1 - 12/25/2017 by Juan Gomez, on Flickr

501-543 N. Wilton Place #2 - 12/25/2017 by Juan Gomez, on Flickr

518-540 N. Gramercy Place #1 - 12/25/2017 by Juan Gomez, on Flickr

518-540 N. Gramercy Place #2 - 12/25/2017 by Juan Gomez, on Flickr

519-521 N. Gramercy Place - 12/25/2017 by Juan Gomez, on Flickr

5019 W. Maplewood Avenue #1 - 12/25/2017 by Juan Gomez, on Flickr

5019 W. Maplewood Avenue #2 - 12/25/2017 by Juan Gomez, on Flickr

482 N. Oxford Avenue - 12/25/2017 by Juan Gomez, on Flickr

557 N. Oxford Avenue - 12/25/2017 by Juan Gomez, on Flickr

4914 Melrose Avenue - 12/25/2017 by Juan Gomez, on Flickr

648 N. Serrano Avenue #1 - 12/25/2017 by Juan Gomez, on Flickr

648 N. Serrano Avenue #2 - 12/25/2017 by Juan Gomez, on Flickr

648 N. Serrano Avenue #3 - 12/25/2017 by Juan Gomez, on Flickr

620 N. Serrano Avenue #1 - 12/25/2017 by Juan Gomez, on Flickr

620 N. Serrano Avenue #2 - 12/25/2017 by Juan Gomez, on Flickr

5015-5017 Marathon Street #1 - 12/25/2017 by Juan Gomez, on Flickr

5015-5017 Marathon Street #2 - 12/25/2017 by Juan Gomez, on Flickr

733-743 N. Gramercy Place #1 - 12/25/2017 by Juan Gomez, on Flickr

733-743 N. Gramercy Place #2 - 12/25/2017 by Juan Gomez, on Flickr
Reply With Quote
     
     
  #8697  
Old Posted Dec 26, 2017, 3:38 PM
Busy Bee's Avatar
Busy Bee Busy Bee is offline
Leftist Correctist
 
Join Date: Feb 2006
Location: Spaceship Earth
Posts: 5,007
I'm sorry but some of those Koreatown developments look horrendous. I can't be the only one that thinks so. Do you you know how bad some of those prison block buildings are going to look in 20 years time?
__________________
You slip me the cash and I'll slip you the wiener. <><><><><><>IMPEACHMENT NOW!

For me it can be reduced to this: For every personal freedom we gained from the automobile, we lost in social cohesion.
Reply With Quote
     
     
  #8698  
Old Posted Dec 26, 2017, 6:09 PM
bobbyv bobbyv is offline
Registered User
 
Join Date: May 2011
Posts: 280
Quote:
Originally Posted by Busy Bee View Post
I'm sorry but some of those Koreatown developments look horrendous. I can't be the only one that thinks so. Do you you know how bad some of those prison block buildings are going to look in 20 years time?
You're beating a dead horse lady/sir
Reply With Quote
     
     
  #8699  
Old Posted Dec 28, 2017, 12:29 AM
SoCalKid SoCalKid is offline
Registered User
 
Join Date: Jul 2012
Posts: 301
Quote:
Originally Posted by Busy Bee View Post
I'm sorry but some of those Koreatown developments look horrendous. I can't be the only one that thinks so. Do you you know how bad some of those prison block buildings are going to look in 20 years time?
If you're referring to the grey ones, I cannot agree more. The silver lining is that these types of hyper-ugly buildings will quickly become the new stock of affordable housing (affordable as in cheap rent, not income restricted) as they age
Reply With Quote
     
     
  #8700  
Old Posted Jan 9, 2018, 10:30 PM
hughfb3 hughfb3 is offline
Registered User
 
Join Date: May 2006
Location: Los Angeles
Posts: 437
SOil testing going on last week at Millennium hollywood site and budget rent a car has been vacated for a few months now
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Global Projects & Construction > City Compilations
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 6:59 PM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2018, vBulletin Solutions, Inc.