Downtown Los Angeles Loft Owners Sue Developers

The Toy Warehouse is the first of many loft/condominium projects currently proliferating in downtown Los Angeles. Prospective loft buyers were drawn to the new development because of the promise of its upscale accommodations and its convenience to a revitalized downtown entertainment and business district. Instead, homeowners have been subjected to unbearable substandard living conditions

(PRWEB) May 4, 2004 -- The Toy Warehouse is the first of many loft/condominium projects currently proliferating in downtown Los Angeles. Prospective loft buyers were drawn to the new development because of the promise of its upscale accommodations and its convenience to a revitalized downtown entertainment and business district. Instead, homeowners have been subjected to unbearable substandard living conditions.

Loft owners are charging that numerous construction defects exist throughout the building. Most notable is the lack of soundproofing. Owners hear their neighbors kitchen, bedroom and bathroom activities. They are charging that the developers knew of these and other defects prior to and after the sale of the lofts, but concealed them from homebuyers.

The Toy Warehouse is an 80,000 square foot building originally constructed in 1907. Located at 215 S. Santa Fe Ave. in the heart of downtown Los Angeles artists district, it was renovated in 2000 to include 20 individual lofts/condominiums. This was the first loft project in downtown where an older commercial building was converted into a live/work structure. Toy Warehouse lofts, which make up approximately 35,000 square feet on the top two floors of the building, initially sold for $200,000 to $490,000.

Toy Warehouse Loft Owners Association vs. Toy Warehouse Lofts Realty Investors, LLC, Decoma Structural Industries et al.
Case No. BC292056
Trial Date: Wednesday, May 5, 2004, 10:00 a.m.
Location: Los Angeles Superior Court
Judge: Susan Bryant Beason