Eastern Columbia Building Sells!!!!!!!!

[Money Man]

Eastern Columbia

Sells for $20 Million


The Kor Group last week closed escrow on the historic Eastern Columbia Building, which it plans to convert into condominiums. The company purchased the 1930 structure at 849 S. Broadway from Denly Investments for nearly $20 million. Ed Rosenthal of CB Richard Ellis brokered the deal, and said a $50 million renovation will start soon. The building is easily identified by its turquoise blue and gold terra cotta exterior and is about 70% vacant.

[Money Man]

Even though It's a gem architecturally, I still think it needs a face lift (personally). It's awesome that so many buildings are being renovated into housing, which is be a God Send. Hopefully with all the buildings being bought in downtown L.A. example: Eastern Columbia Building, 777 Tower, Fulbright buying space in Arco Tower, ect. will further decrease the vancancies in the Office Market.

[New Jack City]

Yea it could use a facelift, great news about the renovation. It's interesting, the building sold for $20 million, yet the renovation is gonna cost $50 million.

Here's a couple of pics of it...

http://you-are-here.com/downtown/1930_eastern_columbia.jpg

http://www.geog.ucsb.edu/~joel/g148_f03/lecture_notes/art_deco/eastern_bldg.jpg

[SChristopher]

I love that building as well as most of the buildings in the historic core

[savvysearch]

I hate green. But what they really need to renovate is that shabby building right next to it.

[Imperfect Ending]

I love LA's historic buildings

[Jasonhouse]

They just need to clean it up and totally renovate the interior. Replace the windows and hardware, make the sidewalks and streetlamps nice again...

[SChristopher]

I think the entire historic core would look AWESOME if they put gas lamp type lighting in and put a little more into it....I love Broadway during X-Mas

[lovecharlie]

I love this building wish they still made them in this colour, its so different!

[PotatoGuy]

that greenish really makes it stand out

[TICONLA1]

Yes, one, if not THE gem of Los Angeles historic buildings.

I was driving through downtown last night, and the crown was lit up with both, neon and floods, (green). and wow, it was great, though modest in size, the building stands out extremely well.

Was there not a few years ago, a neon restoration program downtown, what became of it......does anyone know..????