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Monday, August 17, 2009

Pricey penthouse living coming to Angeleno Heights


A new Angeleno Heights condo project is going to test the health of the local real estate market with penthouse units in the renovated brick building topping the $1 million mark. But will buyers overlook the fact that the still-under-construction Brownstone Lofts overlook the 101 freeway right next door?

Not surprisingly, the agent for Brownstone Lofts said the proxmity of the 55-unit building to the freeway won't be an issue. A sound wall will help absorb the traffic noise, said Millie Radkovich, who said she once sold units next to the much nosier 405 Freeway. "With the sound wall ... it shouldn't be a problem," she said. There will also be a pool, spa, roof top decks and other amenities to attract buyers to the 1928 building.

The units, which are expected to start $399,000 for singles, are not on officially on the market yet as work - including a parking garage - continues on the former Bellevue Avenue apartment house in the eastern fringe of Angeleno Heights. But the owner is taking reservations on homes and a model unit is expected to be ready by next month, Radkovich said.

The prices might seem a bit steep in light of the fact that so many nearby downtown condo projects have gone into foreclosure or have been turned into rental housing. But Radkovich said the demand for new housing in neighborhoods just outside of downtown seems ready to pick up and there has been little in the way of new construction.

"I think the market is a little bit on an upswing."

12 comments:

  1. So what about the abandoned development on Echo Park Ave just above Chango's?

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  2. Wow, that is delusional. $1m next to the freeway? Maybe if it is 4000 square feet?

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  3. Is there a web site for this development?

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  4. This refurbishment looks really nice, personally I think they have done this well.

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  5. Built in 1928? I don't think so. One of those upper floor units is site of one of L.A.'s most notorious child murders, which happened in 1927.

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  6. what in the world would anyone be able to walk to from their Freeway Penthouse?

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  7. I used to live in one of the old craftsman homes across the road from this thing.

    Few points/questions...

    1) Wasn't there a fire in this thing a few years ago?
    2) They've been re-doing this building for years
    3) I knew a family of cats that lived in there prior to and during this conversion
    4) Is there parking for this thing as the neighborhood parking situation is shite
    5) Neighborhood isn't the best either

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  8. i knew an elderly man on a fixed income who lived there. He had been a conductor and composer and he used to walk around the lake with his recorder and he would teach us Solfeggio. He said the landlords were always harassing them... trying to evicted him and other tenants... and then, one day we were coming back from the beach... the 10 to the 110 to the 101 and we saw the building ablaze. and I never saw him again.

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  9. I live across the street from this building on Bellevue. Work has seemingly slowed to a crawl. Only 5 or 6 workers on site daily.
    $399K is a huge bit much to ask for a unit in this location, despite the view, considering every Friday and Saturday night the next-door neighbors throw loud fiestas well into the morning hours and there are fights and car break-ins when Club Bahia lets out at 2AM.

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  10. Here's a bit about that child murderer who lived there when it was the Bellevue Arms...

    http://1947project.com/findthefox

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  11. The problem with having homes next to freeways isn't just the noise (although that is one problem). Ever read any of the studies showing that freeway pollution causes cardiovascular issues & deaths? Lower IQs in children? Asthma? Cancer? Have you ever lived next to the freeway and seen the layers of black dust and dirt (including tiny particles of car tires) covering the homes of the people that dare keep their windows open for air?

    And as another comment, the freeways soundwalls may block out some noise, but they definitaly don't stop you from hearing super loud motorcycles, emergency vehicles/police pulling people over or the constant "beep...beeep...beep" coming from vehicles used in freeway maintnence at 3am during the week.

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