LOS ANGELES-Forest City Development today unveils its Mercury condominiums, a conversion of the 23-story former Getty Oil Co. headquarters into 238 residential condos in the city's Koreatown district. The property, at the corner of Wilshire Boulevard and Western Avenue, also will feature street level retail space and what the developers call a "residents-only rooftop retreat" with a pool, a spa, a fitness center and other amenities.

Forest City has converted the former office building into condominiums ranging from 740 sf to 1,500 sf, designed in 10 floor plans. Prices are expected to range from the low $400,000s to more than $1 million at the building, which is across the street from a Metro Red Line station.

Retail at the Mercury will include the Coffee Bean & Tea Leaf, Jamba Juice, a dry cleaner, a bank branch, a gourmet deli and more. Other nearby retail includes the Koreatown Galleria, neighborhood restaurants, a Ralphs supermarket and a Rite Aid drugstore.

The former Getty Oil headquarters was designed by architect Claude Beelman and was constructed in 1963. Forest City bought the building last year from a partnership of Calabasas-based Upside Investments and Los Angeles-based Hanover Financial Co. that had owned the property at the southwest corner of Wilshire Boulevard and Western Avenue since September 2003.

At the time of the building sale, the sellers said that they had originally acquired the office building to convert it into a luxury apartment complex. But a number of prospective buyers offered to buy the property for a condo conversion, prompting the sale to Forest City.