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Silverlake Build Attracts Residents Away from DTLA

LOS ANGELES—Months after completion, SL70, a 70-home development in Silverlake, reports selling more than half of the properties, with 40% of the buyers moving away from the downtown market.

By Kelsi Maree Borland | Updated on April 30, 2015

LOS ANGELES—The SL70, a community of 70 single-family homes in Silverlake, is attracting residents away from the downtown market. The community, which opened late last year, has sold more than half of the homes and reports that 40% of the buyers are moving from the Downtown Los Angeles market.

“People migrating from downtown are drawn by the quality of life, proximity to sought-after restaurants and retail, and the strong sense of community,” Alan Mark, president and founding partner of the Mark Co., tells GlobeSt.com. “Silverlake is consistently cited as the most hip neighborhood in the country. SL70 is a great opportunity to buy a single-family home in Los Angeles. In addition to there being very little new construction inventory downtown, or in the greater Los Angeles neighborhoods, asking prices are approaching $1,000 per square foot for much smaller condos than you can get at SL70.”

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