The subject property is the Pacific Stock Exchange Building, an 87,599 square foot historical office building located in the heart of Downtown Los Angeles (the “Property”); construction on this iconic structure began in 1929, just three days before “Black Thursday” and the stock market crash. The Property was designed by Samuel Lunden in the Moderne style of architecture. The limestone and gray granite facade is 53 feet high, reinforced by a concrete and terra cotta backing 11 stories tall. The Property consists of 14 floors above ground and a basement level, as well as 3 outdoor decks on floors 6,7 and 13. Floors 6,7 and 9 are “historical” floors that feature hand-carved wood panels, carved stone baseboards, crown moldings, various marble structures, and ornate mail chutes and water fountains, all of which must be maintained, however, none of these features would obstruct the ability to renovate.
Los Angeles, CA