SoldBroker Activity · Entry № 25

Who Would Have Thought a DTLA Trophy Tower Would Trade for Just $107/SF?

From a $682 million assessment to a $150 million sale, Brookfield's 54-story Downtown LA tower shows just how far office values have fallen.

PublishedJune 11, 2026
StatusSold · Closed June 1, 2026
DATELINEThe Tape · Downtown Los Angeles, Los Angeles
333 S Grand Ave hero photo
FIG. 01, 333 S Grand Ave, Downtown Los Angeles. Listing photo via CoStar.
Four takeawaysWho would have ever thought DTLA would trade at $107 a SF
  1. The basis.  The buyer paid just $107/SF for a 54-story Class A steel office tower. Atlas estimates replacement cost is north of $800/SF.
  2. The vacancy.At 42.3% vacant, this tower sits well above the DTLA average of 26.2%. That's likely why the it traded at $107/SF.
  3. The ULA Hit.  This sale likely triggered roughly $8.25 million in Measure ULA transfer tax, paid by the seller. That's another reason distressed sales are so painful in Los Angeles.  I know because I got one of those bills also and still feeling the pain.
  4. $107/SF Changes Your Mental Model  Pre-COVID, nobody would have believed a Class A tower in Downtown LA could trade for just $107/SF. Real estate isn't simply "buy, hold forever, and get rich." Markets change, values fall, and downside risk is real. This is exactly why I'm creating the Real Estate Survival Guide—to help investors survive the down cycles, not just celebrate the up cycles. Inspired by Howard Marks. Coming soon on AtlasBrief.LA.
Deal Stats · 333 S Grand Ave
Sale Price
$150,000,000
closed June 1, 2026
Price / SF
$107.09
on 1,400,639 gross SF
Stories
54
steel construction, Class A
Gross SF
1,400,639
typical floor 26,076 SF
Lot SF / Acres
118,048 SF
2.71 acres · $1,271/SF land
Vacancy (Subject)
42.3%
vs. 26.2% submarket avg
Year Built / Reno
1982 / 2018
renovated 8 years ago
Parking
1,700 stalls
ULA Tax (Est.)
$8,250,000
seller-side Measure ULA exposure
Loan Amount
$132,650,000
Northwind Group · conventional
Hold Period (Brookfield)
152 months
approx. 12.7 years
Assessed Value (2025)
$682,082,790
total assessed

What an operator sees

Brookfield owned this tower for 12 years. At one point, it was assessed at more than $680 million. It just sold for $150 million.

That's a reminder that real estate doesn't always go up. Markets change, capital markets change, and values can reset much faster than most investors expect.

I don't know if this deal will end up being a home run. What I do know is that $107/SF for a Class A trophy tower is a sale every investor should study.

I track every major commercial sale in Los Angeles so you don't have to. 

If you found this useful, share it.

OMs: David@AtlasBrief.LA

Written from the field

David Safai, operator, developer, GC.

Atlas Home Builders, Inc. is a Los Angeles owner-operator and general contractor. If you are a broker with a listing you want an honest read on, send the OM and the T-12 to David@AtlasBrief.La.

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