Downtown Los Angles skyscraper loses 2/3 of value

By Free Republic | Created at 2024-11-26 18:11:19 | Updated at 2024-11-26 20:14:10 2 hours ago
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Downtown Los Angles skyscraper loses 2/3 of value
KTLA ^ | 11/26/2024 | Cameron Kinsla

Posted on 11/26/2024 10:04:36 AM PST by BenLurkin

55-floor Bank of America Plaza, which was appraised at about $605 million a decade ago.

But now? It’s valued at $188.9 million, meaning the tower has lost two-thirds of its value, as reported by Bloomberg.

And the tower is relatively full, with 79% of space leased as of July.

In contrast, downtown Los Angeles, which Bloomberg said is “among the hardest hit areas”

(Excerpt) Read more at ktla.com ...


TOPICS: US: California
KEYWORDS: newsomfornia
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1 posted on 11/26/2024 10:04:36 AM PST by BenLurkin


Used to work in that building. Got up to the top floor....once.


2 posted on 11/26/2024 10:05:10 AM PST by BenLurkin (The above is not a statement of fact. It is either opinion, or satire, or both.)


To: BenLurkin

There has been talk, that there will be a crash in commercial real estate. Stay tuned. This building is mostly occupied but has still lost so much market value? Wow..



To: BenLurkin

Newsom is done.

No phone call for you.

Viva Kaitlin or any other Trump loyalist.



To: BenLurkin

If he was healthy, Bruce Willis could make another Diehard movie and blow-up Nakatomi Tower, put this building to good use.


5 posted on 11/26/2024 10:08:17 AM PST by srmanuel ( the)


To: BenLurkin

In contrast, downtown Los Angeles, which Bloomberg said is “among the hardest hit areas”

What hit them? Do they know?

6 posted on 11/26/2024 10:09:10 AM PST by Steely Tom ([Voter Fraud] == [Civil War])


To: BenLurkin

For those who don’t know...
It’s a huge building, major security, nicely appointed, top tier office space.
A $400million drop in value to $190mil...wow. There’s no way the same building could be constructed at its current valuation.

BTW, its a 69% drop in value, & MSM still has to hedge it [not 66%, about $20 mil difference].


7 posted on 11/26/2024 10:10:27 AM PST by TonyinLA (I have insufficient information to formulate a reasoned opinion said no lefty ever.)

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