Less than two months after getting city approval to build three high-rise apartment buildings in LA's Echo Park neighborhood near Chinatown—the first proposed skyscrapers in Central LA, a project that generated significant NIMBY backlash—developer Palisades Capital Partners has put the site on the market.
Berkadia has posted a listing on Loopnet for 6.19 acres "of entitled land" at 1111 Sunset Boulevard. The listing also offers a 1.5-acre parcel across the street, without specifying an asking price for either property.
Santa Monica-based Palisades, which bought the property—which was the former headquarters of LA's Metropolitan Water District—in 2015. In June, LA's City Council unanimously approved the developers plans for a mega-project on the site, which is near Dodger Stadium.
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