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Park Wilshire

Park Wilshire

Westwood CA

This high-rise luxury condominium, located on Wilshire Boulevard in Westwood, had been sitting partially-constructed for several years when it was purchased in the mid 1980s. Due to its rusting exposed steel and lack of any progress for years, the image of the building was bad with the overall public, political, and real estate community. After several years of planning, entitlement processing, creative financing, and a highly innovative marketing solution, all 154 units were sold within approximately one year at prices significantly higher than original expectations. The project sold out in 1991. This was a successful financial endeavor in a very difficult residential market.