Ten50 Sells Out First Phase

Ten50 is located in the South Park neighborhood of Downtown Los Angeles.

LOS ANGELES—Ten50, one of the handful of condo projects under construction in Downtown Los Angeles and the latest one to launch sales efforts, has sold out its first phase of units in only two months. Trumark Urban is developing the 25-story tower, which totals 151 units and will open later this year. The quick sellout of the first phase exceeded even the developer’s expectations, and underscores the demand for condo living in Los Angeles. The first phase of residences started in the $600,000 price range.

“The Trumark Urban team expected Ten50 would be enthusiastically received, and we are truly encouraged by the early success of our sales efforts,” Mark Higgins, SVP of sales and marketing at Trumark Urban, tells GlobeSt.com. “It’s an indication that the market is ready for new condo residences after such a focus on rental product in downtown Los Angeles over the last few years. It’s also confirmation that people are looking for a truly tailored homeownership experience downtown, TEN50 provides an experience more reminiscent of a boutique hotel than anything else available on the market for full ownership.”