The city of night life has some new residents too
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Hollywood is becoming such a center of night life these days, reported Chris Lee and Charlie Amter in Sunday’s Los Angeles Times, that Los Angeles City Councilman Eric Garcetti expressed concern about it having enough day life.
According to Garcetti, president of the City Council, the main challenge facing the neighborhood is having too much of a good thing after dark. ‘I announced a year and a half ago that we didn’t want any more new clubs,’ he said. ‘You can only have so many, because they poach one another’s clientele and all of them begin to suffer.’
A check of new construction there shows that people are buying and moving into the community. Maybe they just spend the day snoozing.
From Mark Co.’s September Hollywood market overview:
-- Universal Lofts, 67 units, was taking pre-reservations in June, when prices ranged from $975,000 to $1.35 million.
-- The Lofts @ Hollywood and Vine, 60 units, has 28 signed contracts, with an average price of $606,202.
--The W Hollywood, 45 units in Phase I and 98 to come in Phase II, has signed contracts on 41 condos in the first phase, priced from $475,000 to $2.3 million.
-- Sunset Silver Lake has signed contracts on 42 of 43 units, with two bedrooms starting at $629,000 to $739,000.
-- Hollywood Regis has contracts on 95 of 100 units, with one-bedroom flats averaging $500,005 and two bedrooms averaging $542,219.
-- Broadway Hollywood, signed contracts on 95 of 96, with lofts averaging $1,178,258.
--The Hollywood, signed contracts on 24 of 54 units and list prices averaging $651,000 to $2 million.
Frankly, at those prices, I thought a lot of these new developments might be sitting empty.
-- Lauren Beale
Your thoughts? Comments?
