New Development Market Watch - DOWNTOWN LOS ANGELES Q1 2021 - Compass Real Estate
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Quarterly MarketWatch DTLA Q 1 202 1
New Development Market Watch
DOWNTOWN LOS ANGELES Q1 2021
NEW D E VELOPMENT MARKET WATCH - DTL A - Q 1 202 1 01
Table of Contents Q 1 202 1
Quarterly DTLA MarketWatch .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 3
D T L A Q UA R T E R LY S U M M A R Y . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 3
D T L A C O N D O S $ 5 0 0 K+.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 4
DT L A S A L ES BY P R I C E PO I N T . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 5
Leading Luxury Condo Properties in DTLA . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 6
L E A D I N G L U X U R Y P R O J E C T S I N F O R M AT I O N .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 6
New Development Pipeline Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0
P I P E L I N E P ROJ E C TS M A P.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0
P I P E L I N E P R O J E C T S I N F O R M AT I O N . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2
NEW D E VELOPMENT MARKET INSIGHTS - SAN F R ANCISCO - Q 1 202 1 02
Quarterly DTLA MarketWatch Q 1 202 1
DOWNTOWN LOS ANGELES SUM MARY
+23.4%
TOTAL SALES VOLUME was UP 23.4% QOQ, due in large to strong home
buyer demand post-pandemic.
0.0% The AVERAGE PPSF REMAINED FLAT in Q1 2021. However, if demand keeps
pace there could be a potential uptick in future pricing.
-5.1% The AVERAGE SALE PRICE was DOWN 5.1% QOQ to $740K, less than
the 2018 through 2020 reported averages.
6.8% There was a strong uptick in the AVERAGE PPSF for the $1M to $5M price
segment reporting $685 PPSF, an INCREASE OF 6.8%.
Compass Development Marketing Group’s New Development Market Insights report provides an in-depth look at Los Angeles’
downtown neighborhood. Published quarterly and highlighting the city’s vast condo market, we pull information from a combination
of public and proprietary databases that access the most up-to-date closing information for new development properties and resales.
Though real estate sales in Los Angeles’ downtown witnessed some setbacks in 2020 with buyers hesitant to invest in urban cores,
low interest rates and the desire for more spacious residences heated up the DTLA market. Fueled by the arrival of vaccinations,
the start of 2021 saw a release of pent-up demand for dining, travel, and leisure. This demand along with low-interest rates created
a boom in the residential market which has begun to spill over into the condo sector. There was an increase in the number of real
estate closings QoQ of more than 23% in Q1 2021.
With buyer demand increasing in the condo market, the activity could help elevate pricing if demand keeps pace. Until then buyers
are taking advantage of softer pricing with Q1-2021 overall PPSF values for condos still down YoY (- 14.6%). This pricing has helped
generate interest for buyers looking for opportunities to upgrade as new developments offer an ‘estate alternative’ for buyers who
would otherwise style themselves in a single-family home. The DTLA luxury market showed momentum as the average sales price
increased YoY by 6.1% for condos in the $1 to $5M range.
While the broader LA market has shown clear signs of improvement, DTLA has been slower to recover from the changes brought on
by COVID-19. Over the next few quarters as life returns to a bit of normalcy and with the vaccine roll-outs, expect LA’s once vibrant
downtown scene to boom once again.
For any inquiries regarding our research, please reach out to research.westcoast@compass.com.
NEW D E VELOPMENT MARKET WATCH - DTL A - Q 1 202 1 03
Quarterly DTLA MarketWatch Q 1 202 1
DTL A - CONDOS $500K+
-14.6% +30.8% +4.6%
AVERAGE PPSF was DOWN SALES between $500K-$1M AVERAGE VALUATIONS for
14.6% YOY to $617/SF were UP 30.8% QOQ with sales between $500K-$1M were
51 sales UP 4.6% YOY to $678,204
MARK E T PE R FOR M A NC E
NEW D E VELOPMENT MARKET WATCH - DTL A - Q 1 202 1 04
Quarterly DTLA MarketWatch Q 1 202 1
DTL A - CONDOS
$500K+ SA LES BY P R ICE PO IN T
$500K-$1M
$1M-$1.5M
$1.5M-$3M
$3M+
NEW D E VELOPMENT MARKET WATCH - DTL A - Q 1 202 1 05
Leading Luxury
Quarterly Condo Properties
MarketWatch DTLA in DTLA Q 1 202 1
The Ritz-Carlton Residences at L.A. Live
TEN50
Metropolis
NEW D E VELOPMENT
NEW D EMARKET
VELOPMENT
INSIGHTS
MARKET
- SAN
WATCH
F R ANCISCO
- DTL A - Q 1 202 1 06
Leading Luxury
Quarterly Condo Properties
MarketWatch DTLA in DTLA Q 1 202 1
LUMA
1100 Wilshire
Sky Lofts
NEW D E VELOPMENT
NEW D EMARKET
VELOPMENT
INSIGHTS
MARKET
- SAN
WATCH
F R ANCISCO
- DTL A - Q 1 202 1 07
Leading Luxury
Quarterly Condo Properties
MarketWatch DTLA in DTLA Q 1 202 1
Barker Block
Eastern Columbia
EVO
NEW D E VELOPMENT
NEW D EMARKET
VELOPMENT
INSIGHTS
MARKET
- SAN
WATCH
F R ANCISCO
- DTL A - Q 1 202 1 08
Leading Luxury
Quarterly Condo Properties
MarketWatch DTLA in DTLA Q 1 202 1
Biscuit Lofts
939 Broadway
PERLA
NEW D E VELOPMENT
NEW D EMARKET
VELOPMENT
INSIGHTS
MARKET
- SAN
WATCH
F R ANCISCO
- DTL A - Q 1 202 1 09
DTLA Pipeline Overview Q 1 202 1
3
10
11
7 8
4
1
12
5 2
9
13
6
1 2 3 4
OCEANWIDE 1111 SOUTH HILL 1150 WILSHIRE SB OMEGA
5 6 7 8
VARA THE REEF OLYMPIA FIGUEROA CENTER
NEW D E VELOPMENT MARKET INSIGHTS - SAN F R ANCISCO - Q 1 202 1 10PLACEHOLDER MAP
DTLA Pipeline Overview CONTINUED Q 1 202 1
3
10
11
7 8
4
1
12
5 2
9
13
6
9 10 11 12
6AM TRIBUNE TOWER ANGELS LANDING ARTS DISTRICT CENTER
13
1600 FIGUEROA
NEW D E VELOPMENT MARKET INSIGHTS - SAN F R ANCISCO - Q 1 202 1 11New Construction Project Pipeline Q 1 202 1
Oceanwide 1101 S FLOWER STREET
NE IG HBOR H O O D LA Live
D E VE LOPE R Oceanwide Holdings
ARC HITECT RTKL
R ES ID E NC ES & STO R I ES 504 Residences & 49/40, 40 Stories
P R IC E R AN GE TBD
COMP L E T I O N DAT E 2022
ADD ITION A L I N FO Two acre private resort-style park, outdoor track, two pools,
luxury retail and dining, 164 Park Hyatt branded condos
1111 South Hill 1111 S HILL STREET
NE IG HBO R H O O D South Park
DE VE LOP E R Crown Group
ARC HITECT Koichi Takada Architects and MVE + Partners
R ES IDE NCES & STO R I ES 319 Residences & 43 Stories
P R IC E R A N GE TBD
COMP L E T I O N DAT E TBD
AD DITION A L I N FO Plans include a 160-room hotel, open air amenities on podium
and roof levels and expansive green living wall
1150 Wilshire 1150 WILSHIRE BLVD
NE IG HBO R H O O D City West
DE VE LOP E R Pac10 Partners
ARC HITECT KYGY
R ES IDE NCES & STO R I ES 109 Residences & 13 Stories
P R IC E R A N GE TBD
COMP L E T I O N DAT E TBD, Approved
AD DITION A L I N FO Pool, roof deck, 9,000 SF of restaurants and retail space
NEW D E VELOPMENT MARKET INSIGHTS - SAN F R ANCISCO - Q 1 202 1 12New Construction Project Pipeline Q 1 202 1
SB Omega 601 S MAIN STREET
NE IG HBOR H O O D DTLA Historic Core
D E VE LOPE R Barry Shy
ARC HITECT David Takacs
R ES ID E NC ES & STO R I ES 452 Residences & 38 Stories
P R IC E R AN GE TBD
COMP L E T I O N DAT E TBD
ADD ITION A L I N FO Rooftop gym and pool, leisure decks, helipad and extensive
vertical landscaping
Vara 1233 S GR AND AVENUE
NE IG HBO R H O O D South Park
DE VE LOP E R City Century
ARC HITECT Steinberg Hart
R ES IDE NCES & STO R I ES 161 Residences & 24 stories
P R IC E R A N GE TBD
COMP L E T I O N DAT E TBD, Approved
AD DITION A L I N FO Community outdoor amenities and 2,000 SF of retail
The Reef 1 933 S BROADWAY
NE IG HBO R H O O D Fashion District
DE VE LOP E R Avedis & Ara Tavitian
ARC HITECT Gensler
R ES IDE NCES & STO R I ES 895 Residences & 30/35 Stories
P R IC E R A N GE TBD
COMP L E T I O N DAT E TBD, Approved
AD DITION A L I N FO Outdoor amenities, grocery store, expansive gym and fitness
facilities, art gallery and large restaurant retail space
NEW D E VELOPMENT MARKET INSIGHTS - SAN F R ANCISCO - Q 1 202 1 13New Construction Project Pipeline Q 1 202 1
Olympia 1001 W OLYMPIC BLVD
NE IG HBOR H O O D South Park
D E VE LOPE R City Century
ARC HITECT SOM
R ES ID E NC ES & STO R I ES 1,367 Residences & 65/53/43 Stories
P R IC E R AN GE TBD
COMP L E T I O N DAT E 2023
ADD ITION A L I N FO Large outdoor space podium connecting the 3 towers,
community gardens and terraces, “vertical neighborhood”
design
Figueroa Centre 913 FIGUEROA STREET
NE IG HBO R H O O D South Park
DE VE LOP E R Regalian, LLC
ARC HITECT RTKL
R ES IDE NCES & STO R I ES 200 Residences & 66 Stories
P R IC E R A N GE TBD
COMP L E T I O N DAT E 2023
AD DITION A L I N FO Five floors of retail, restaurants and business facilities, private
elevators to residences
6AM 1206 E 6TH STREET
NE IG HBO R H O O D Arts District
DE VE LOP E R Access Industries
ARC HITECT Herzog & de Meuron
R ES IDE NCES & STO R I ES 431 Residences & 58, 58 Stories
P R IC E R A N GE TBD
COMP L E T I O N DAT E 2035
AD DITION A L I N FO 412 hotel rooms included, 22,000 SF of art galleries, large
community outdoor space
NEW D E VELOPMENT MARKET INSIGHTS - SAN F R ANCISCO - Q 1 202 1 14New Construction Project Pipeline Q 1 202 1
Tribune Tower 232 E 2ND STREET
NE IG HBOR H O O D DTLA Historic Core
D E VE LOPE R Tribune Media Company
ARC HITECT Gensler
R ES ID E NC ES & STO R I ES 107 Residences & 30 Stories
P R IC E R AN GE TBD
COMP L E T I O N DAT E 2025
ADD ITION A L I N FO Connection directly to the metro, community outdoor plazas
and paseos
Angels Landing 361 SOUTH HILL STREET
NE IG HBO R H O O D Bunker Hill
DE VE LOP E R MacFarlane, Claridge, & Peebles Corp.
ARC HITECT Handel Architects
R ES IDE NCES & STO R I ES 180 Residences & 64, 42 Stories
P R IC E R A N GE TBD
COMP L E T I O N DAT E 2028
AD DITION A L I N FO Panoramic views, open-air public plaza
Arts District Center 1101 E 5TH STREET
NE IG HBO R H O O D Arts District
DE VE LOP E R Kevin Chen
ARC HITECT Togawa Smith Martin
R ES IDE NCES & STO R I ES 129 Residences & 11 Stories
P R IC E R A N GE TBD
COMP L E T I O N DAT E TBD
AD DITION A L I N FO Amenities include art galleries, artist production spaces and
public art murals
NEW D E VELOPMENT MARKET INSIGHTS - SAN F R ANCISCO - Q 1 202 1 15New Construction Project Pipeline Q 1 202 1
1600 Figueroa 1600 S FIGUEROA STREET
NE IG HBOR H O O D South Park
D E VE LOPE R L&R Group of Companies
ARC HITECT Gensler
R ES ID E NC ES & STO R I ES 202 Residences & 52 Stories
P R IC E R AN GE TBD
COMP L E T I O N DAT E TBD
ADD ITION A L I N FO Plans include a 250 room hotel
NEW D E VELOPMENT MARKET INSIGHTS - SAN F R ANCISCO - Q 1 202 1 16New Development Market Insights
DOWNTOWN LOS ANGELES Q1 2021
Contact
9 4 5 4 W I L S H I R E B LV D , 4 T H F L O O R
B E V E R LY H I L L S , C A 9 0 2 1 2
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R E S E A R C H . W E S T C O A S T @ C O M PA S S . C O M
C O M PA S S . C O M / D E V E L O P M E N T
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