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Original Banksy-Clad Building in LA For Sale

07 September 2022 | Updated 08 September 2022
 

Hilco Real Estate has announced the structured sale of a historic, newly renovated mixed-use mid-rise in the heart of Los Angeles' Fashion District known around the world for the authenticated Banksy mural, "Girl on a Swing", on its exterior.

It is Banksy's only work in Los Angeles that remains undisturbed in its original location, and one of a handful of his pieces that remain preserved in their places of origin. Offers on this one-of-a-kind property are due October 20, 2022.

Challenges stemming from the COVID-19 pandemic prompted the building's owners to sell through a structured sale process, presenting a once-in-a-generation opportunity to own a cultural landmark and a priceless work of art in a prime area of Los Angeles. The impact of the mural's social commentary on the revitalisation of Los Angeles' historic core is multiplied by its preservation on the side of the building.

 

"This sale presents an unprecedented opportunity to own a treasured Banksy mural, a unique piece of Hollywood history and an icon of Los Angeles culture contained within a beautifully restored art nouveau landmark."


 

– Jeff Azuse
Senior Vice President, Hilco Real Estate

 

Early Twentieth Century Gothic

 

The art nouveau/gothic revival mid-rise, centrally located on the border of Los Angeles' Historic Core and its Fashion District at 908-910 S Broadway, was built in 1914 and underwent an all-expenses paid effort to restore it to its original condition in 2018. Thanks to this, the building boasts seven floors and over 26,000 sq/ft of top-rate commercial real estate space, class-A first-floor retail space, and a unique basement space ideal for a speakeasy-type bar, all close to Los Angeles landmarks like the Ace Hotel, Crypto.com Arena and the Apple Tower Theatre.

It also has deep ties to classic Hollywood, having been featured in the 1923 film “Safety Last!” in which silent film star Harold Lloyd scales its outer façade and dangles from the arms of a clock on its exterior, an iconic moment in cinematic history.

"This sale presents an unprecedented opportunity to own a treasured Banksy mural, a unique piece of Hollywood history and an icon of Los Angeles culture contained within a beautifully restored art nouveau landmark," said Jeff Azuse, Senior Vice President of Hilco Real Estate. "908-910 S Broadway's one-of-a-kind characteristics provide limitless potential for anyone interested in the prestige and functional capabilities that come with its ownership."

Speaking of art outside the workplace on a building, art in a building can have a different kind of value. Recent research by the Identity Realisation Research Group, shows that people are 15 per cent more productive in spaces with art, compared to those containing only the basic necessities.

 

Picture: the external wall with "Girl on a Swing". Image credit: Hilco Real Estate.

Article written by Bailey Sparkes | Published 07 September 2022

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