[Mojeda101]

Well it only took several days for this to actually be put here..

Originally Posted by Steve2726

Didn't see this mentioned already, sorry if it's a repost. We could see some action with the L.A. Central parcel soon-

http://www.bloomberg.com/news/2013-06-21...or-downtown-los-angeles-real-estate.html

Moinian Seeks Buyer for Downtown Los Angeles Real Estate


New York developer Joseph Moinian is marketing downtown Los Angeles land planned for a high-end retail, hotel and residential project.

Moinian Group, which bought the 4.5-acre (1.8-hectare) property in 2006 for $80 million from Anschutz Entertainment Group, has about 10 bidders and will choose within 30 to 60 days. Moinian, who had planned to build a mixed-use development on 1.5 million square feet (139,000 square meters) at the corner of 11th and Figueroa streets, decided to abandon the project to focus on New York real estate

“We have long believed that this is the best development site in Los Angeles and are encouraged by the incredible interest we are receiving from the buyer community,” Joseph Moinian said in an e-mailed statement.

About half the bidders for the Los Angeles land are from overseas, including China and the Middle East, the person said. The project may be valued at as much as $900 million once completed, said the person with knowledge of the process.