Director Justin Lin simply closed the priciest deal ever for a condominium in downtown L.A.’s Arts District, promoting his penthouse loft for $5.5 million.
It’s a defining sale for downtown L.A.’s luxurious market, which took successful in the course of the pandemic as patrons labored remotely and deserted vertical dwelling in favor of single-family housing. The sale additionally ranks as downtown L.A.’s priciest condominium deal exterior the Ritz Carlton Residences at L.A. Live, the place NBA gamers corresponding to Kawhi Leonard and Lonzo Ball have purchased properties to be near Crypto.com Arena.
Lin, who’s finest recognized for directing 5 movies within the “Fast and Furious” franchise, purchased the place a decade in the past for $2.6 million from actor-director Vincent Gallo and used it as an workplace for his manufacturing firm, Perfect Storm Entertainment. Records show he listed it for sale earlier this 12 months at $7 million.
At 4,300 sq. ft, the four-story condominium is larger than most single-family properties. It sits atop the seventh flooring of Biscuit Company Lofts, a 1925 constructing that after served because the West Coast headquarters of Nabisco.
Converted right into a live-work area in 2007, the loft is a vibrant concoction of brick, wooden and glass. Floating staircases slice via the open-concept area full with two bedrooms and 2 1/2 bogs — together with a main suite that spans your complete third story.
There’s loads of exterior area as effectively, as a number of terraces and lounges mix for 3,600 sq. ft exterior. The constructing, which was named a Historic Cultural Monument in 2007, provides facilities corresponding to a concierge, backyard terrace and swimming pool.
Lin’s brother, Jimmy Lin of One True Loan, held the itemizing with Justin Alexander and Tab Howard of Compass. Michael Robleto, additionally with Compass, represented the customer, who stays unclear.
A local of Taiwan, Lin earned a movie diploma from UCLA earlier than occurring to direct films corresponding to “Better Luck Tomorrow” and “Star Trek Beyond.” He most just lately directed 2021’s “F9” and is serving as a author and producer for the subsequent entry within the franchise, “Fast X.”
Article supply