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 throughout the pandemic as patrons labored remotely and deserted vertical residing 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. Reside, the place NBA gamers reminiscent of Kawhi Leonard and Lonzo Ball have purchased properties to be near Crypto.com Area.
Lin, who’s finest recognized for steering 5 movies within the “Quick and Livid” 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, Good Storm Leisure. Information present he listed it on the market earlier this yr at $7 million.
At 4,300 sq. toes, the four-story condominium is larger than most single-family properties. It sits atop the seventh flooring of Biscuit Firm Lofts, a 1925 constructing that when served because the West Coast headquarters of Nabisco.
Transformed 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 a couple of 1/2 bogs — together with a major suite that spans the complete third story.
There’s loads of exterior area as properly, as a number of terraces and lounges mix for 3,600 sq. toes exterior. The constructing, which was named a Historic Cultural Monument in 2007, provides facilities reminiscent of a concierge, backyard terrace and swimming pool.
Lin’s brother, Jimmy Lin of One True Mortgage, 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 happening to direct films reminiscent of “Higher Luck Tomorrow” and “Star Trek Past.” He most just lately directed 2021’s “F9” and is serving as a author and producer for the subsequent entry within the franchise, “Quick X.”