The Tape
333 S Hope StSold
$147/SF for the Bank of America Tower
Capital Group buys its own Downtown LA office tower out of a court-appointed sale for $210M, $147.71/SF
At a glance
confirmed
per gross SF
55-story steel tower
4.21 acres
renovated 2009
covered + reserved + surface
Mansion Tax at closing
2025 assessment
152 months under Trigild
Buyer: Capital Group (tenant / institutional)
What matters
- Court-appointed sale, the tenant was the buyer.$210M for 1,421,711 SF at $147.71/SF. Capital Group, the occupant, bought the building it was already operating inside.
- The price is down by 71%. The assessed total is at $729M as of 2025. It sold at 29 cents on the assessed value.
- A wake-up call for the City of LA This sale reduced the property's value by roughly 71% from its prior assessed value, potentially cutting $5–6 million a year in local property tax revenue.
- Is this the bottom? Office values have already fallen hard. Is this the bottom or are we pausing before another leg down?
What an Operator Sees
DTLA office market has been crushed. Capital Group acquired Bank of America Plaza at a price that's more than $500 million below replacement cost. The question everyone is asking: Is this the bottom, or is office dead? I don't know, I'm just tracking for now.
Send OMs to David@AtlasBrief.La
Write to David Safai at David@AtlasBrief.La
Appeared in the June 29, 2026 edition of The Tape.