National City Tower is a historic adaptive reuse development that includes 93 residential lofts, as well as ground floor and basement retail space.
Built in 1924 and redeveloped in 2008, the 12-story trophy asset was a former branch of National City Bank. It is located in Historic Financial District and is part of the high-growth market of Downtown Los Angeles, which has been receiving a massive infusion of capital from investors and developers over the past several years. The stabilized property had residential units 97 percent occupied at the close of escrow, and its retail consists of two tenants: Terroni, a critically-acclaimed restaurant; and Peking Tavern, a popular downtown bar; which occupy all of the ground floor and basement-level retail space.
Janet Neman proudly represented the seller and buyer in the sale of this historic downtown Los Angeles hi-rise.