New Yorkers Buying Downtown Land

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The Moinian Group, one of New York’s largest landowners, is buying a prominent downtown property near the Staples Center.

Moinian has built several high-rise projects in Manhattan and the firm has recently begun buying property in downtown L.A.

Daphne Viders, a Moinian spokeswoman, confirmed there are negotiations but declined to provide further information on the pending transaction. Anschutz Entertainment Group, the majority owner of the Staples Center, is selling the land. AEG spokesman Michael Roth declined comment.

Even so, people familiar with the deal say Moinian is paying close to $75 million for a 4-acre surface parking lot bounded by Figueroa, Flower, 11th and 12th streets. The site already has approvals for a residential and retail project.

The transaction is expected to go non-refundable next month, the sources said.

Moinian isn’t the first developer to want the site and its towering project entitlements.

LNR Property Corp., a well-heeled commercial builder, fell out of contract to buy the parcel a few months ago.

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