H
harddriver
Well-known member
The U.S. Bank Tower in Downtown Los Angeles was
sold in September 2020 to Silverstein Properties for $430 million, a 34% discount from its previous valuation. The 72-story, 1.4-million-square-foot skyscraper at 633 West Fifth Street was sold by Singapore-based OUE Ltd., which had owned it since 2013. The sale occurred during the COVID-19 pandemic, which impacted office leasing.
Key details regarding the tower and its last sale:
- Buyer: Silverstein Properties (Manhattan-based firm).
- Seller: OUE Ltd..
- Price: $430 million, or approximately $320 per square foot.
- Features: 72 stories, 1,018 feet tall, includes an observation deck and a glass slide.
- Status: The tower is a major landmark in the LA skyline and is located in the Financial District.