Historic Catalina Swimwear Building near Little Tokyo hits the market

Owner Statewide Acquisitions Corp. bought the site for $20M in 2016

Aug.August 25, 2017 03:30 PM
443 S. San Pedro Street (Google Maps)

The owner of the historic Catalina Swimwear Building between Skid Row and Little Tokyo is hoping it will catch the eye of a potential buyer.

Statewide Acquisitions Corp. is listing the six-story building at 443 S. San Pedro Street. It purchased the property last year for $20 million, or $211 per square, according to property records.

The Newport Beach-based investment firm initially planned to convert the 92,538-square-foot building into a mixed-use complex with 78 live/work lofts, but has since decided to sell — or at least bring on a development partner to buy a stake, said listing agent William Everitt of Investment Real Estate Associates.

It received approvals for the lofts, and for 8,000 square feet of retail space, in recent months, Everitt said. The property falls under the Mills Act, which offers financial incentives for restoration. 

Buildings in the area typically sell for around $300 per square foot, Everitt said. 

The building was constructed in 1923 and designed by architect William Douglas Lee, who would go on to design the Chateau Marmont hotel.

Related Articles

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

AIDS Healthcare Foundation executive director Michael Weinstein is suing the center of measure HHH

AIDS Healthcare Foundation sues city over Skid Row project

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando

Bill Watanabe, LTCIF’s chairman and president and Little Tokyo

Little Tokyo advocates launch community real estate fund

Relevant Group Managing Partner Richard Heyman and a rendering of the project on 5th Street

Relevant Group plans 150-unit affordable complex in Skid Row while converting Morrison Hotel

Downtown Los Angeles (credit: Jeff Cleary and Laurie Avocado)

Rezoning Downtown — Skid Row included — must include more affordable housing, advocates say