from Downtown Examiner:
http://downtownexaminer.com/news/rumor-has-it-we-may-be-wrong-but-we-doubt-it/
Rumor Has It…we may be wrong…but we doubt it.
Categories:
Downtown Developments, Latest News
by Downtown Examiner
AT&T Center
Word on the street New York based Chetric Group who rarely sells, is privately marketing one of the tallest buildings in Downtown, 611 W. Sixth St. which sits on the corner of 6th& Grand, formerly known as the AT&T Center built in 1969 which at the time was the tallest building is LA. Plans to convert the 42-story 715,463sf office tower into more than 500 residential and commercial condominiums were placed on hold in 2010. Interestingly enough the notoriously private company recently closed on a $1.1 billion purchase of the Sony tower at 550 Madison Avenue, NY, which the group plans to convert into high-end retail shops, luxury condominiums. The Chetric Group outbid 20 other investment bidders for the Sony building with a $100 million down payment and a letter of credit worth nearly $600 million from a sovereign Middle Eastern investment fund. The company also plans to invest $500 million to renovate the building into condominiums.
930 S. Hill
Rumor has it 930 S. Hill St, the historic structure right behind the United Artist Theater and soon to be home to the ACE Hotel and Blackstone Apartments, is quietly being converted into apartments.
Historic Gas Company Lofts
The inside scoop on the Historic Gas Company lofts, located at 810 S. Flower in South Park which was one of the first adaptive reuse projects in Downtown LA is up for sale and being handled by Hendricks & Berkadia.
The 251 unit project including ground floor retail recently received their best and final offers from bidders and will be picking a buyer any day now. Estimates are above $80 million for purchase (51 units are workforce housing).
The Pattern Bar
Rumor has it Pattern Bar, the popular watering hole some argue has the best music in downtown located on 9th & Los Angeles is looking into expanding its premises with a new basement dance venue so we can all have more space to dance the night away!
Los Angeles Stock Exchange
Los Angeles Stock Exchange building at 618 South Spring Street, commonly known at the ‘Exchange Building’ which is home to the popular nightclub ‘Exchange LA’ Building is up for sale.
The beautiful 1933 historic tower is being marketed as a creative conversion opportunity.
Australian Retailer “Face Off”
Coming to 9th and Broadway
Rumor has it the high end Australian retailer Face Off has signed a deal to replace the check cashing service location at the corner of 9th and Broadway in the beautiful Anjac Fashion Building.
Wow! The Blackstone and the Ace Hotel are continuing their influence of the north end of Broadway. Face Off will be joining angelo:HOME, Sparkle Factory, Urban Outfitters (now coming to the Rialto Theater), Jason’s Market, and Swedish fashion chain Acne Studios coming to the corner of the Eastern Columbia Building. Bringing Back Broadway is alive and well.
Looks like that is retail space on 9th/Bway that is currently a check cashing space that is closing!