Newly released sales figures for The Ritz-Carlton Residences at L.A. LIVE show the demand to live in the 54-story, luxury-branded residential tower in Downtown Los Angeles has soared to an all-time high. With The Agency serving as exclusive broker for the world-class property, purchases have surged to 58% sold, with the combined value of sales now well over $200 million. A total of 131 Residences have been purchased and more than 20 Residences are currently in Escrow.
“This is a clear signal of the elasticity of the Downtown Los Angeles market, which has seen more recent successful development than any other area of Los Angeles,” said Mauricio Umansky, co-founder and CEO of The Agency.
“The forthcoming Farmer’s Field stadium and modernization and expansion of the Los Angeles Convention Center will further fuel the upward trajectory of downtown L.A. values,” continued Umansky. “Many of those making significant purchases at The Residences include an extended time horizon in their investment calculations based upon an acceleration of property value increases accompanying new development.”
Individuals who have purchased homes at The Ritz-Carlton Residences at L.A. LIVE span from leaders in the worlds of fashion, finance, food and entertainment to students at University of Southern California. Sixty-three residences were purchased by three separate buyers of elite, institutional-quality properties throughout the world.
“What unites all these buyers is a solidly founded belief in the enduring value of this development,” said Mauricio Umansky.
To discover more about The Ritz-Carlton Residences at L.A. LIVE and schedule a private showing, visit allaccessliving.com.
For the press release announcing the newly released sales figures at The Ritz-Carlton Residences at L.A. LIVE click here.
