In what was one of largest urban transactions in Los Angeles in 2024, Cushman & Wakeÿeld sold 888 at Grand Hope Park in Downtown Los Angeles for $186 million.
A 34-story multifamily high-rise comprised of 525 market-rate residences and 10,457% of 100% leased ground floor retail, the property is located in the micro market of South Park. 888 at Grand Hope Park offers °oor-to-ceiling glass, the highest percentage of units with panoramic views in the market, one of the largest amenity decks in the city, and an indoor/outdoor penthouse lounge on the 34th floor.
The property is blocks from the LA Live campus and the 2028 Summer Olympics, surrounded by higher education campuses for USC, UCLA, Arizona State University and one block to the Metro Rail and the $2.6 billion D Line extension. The property represented a rare opportunity for an investor to acquire a trophy Type-I property, located in the center of Los Angeles, at a material discount to replacement cost in a market with limited future supply and outsized rent growth potential. Cushman & Wakefield’s Marc Renard, Manfred Schaub and Morgan Jackson arranged the transaction.
