Walls are up at Century West’s Koreatown resi project, but subcontractor is still owed money: lawsuit

Rockwall Drywall says it's still owed $300K for work at the 398-unit luxury building

May.May 10, 2018 12:00 PM
Century West’s co-founder Michael Sorochinsky, Next on 6th

It’s been nearly sixth months since construction wrapped up at Century West Partners’ luxury apartment building in Koreatown. But even with leasing in full force, one subcontractor isn’t going away.

A company hired to install drywall at Next on Sixth in Koreatown is suing the development’s contractor, developer and lender for $315,000 in unpaid work, according to a complaint filed last week in Los Angeles County Superior Court.

In the lawsuit, San Dimas-based Rockwall Drywall, alleges the contractor, Cobalt Construction, still owes the money for its work on the 398-unit building at 620 South Virgil Avenue. The complex includes units with 9-foot ceilings along with amenities that include a resort-style pool, rooftop grills and a lounge.

In addition to Cobalt, the plaintiff named the LLC “6th Virgil” and the construction lender, Comerica Bank, as defendants. The LLC is tied to the developers, Century West Partners, which is a joint venture between Fifield Cos. and Cypress Equity.

Rockwall and Cobalt had agreed to $4.6 million contract, plus approved extras, back in September 2015, the suit alleges.

In exchange, Rockwall Drywall was responsible for supplying and installing drywall at the property. It was also expected to furnish and provide materials for any improvements, as specified in the plans.

Neither of the defendants, nor a spokesperson for the plaintiff, responded to requests for comment.

The seven-story complex, located on the corner of Sixth and Virgil, features a Target retail store on the ground floor, as well as a fitness center, coffee bar, screening room and an indoor simulated golf range. It includes a mix of studio, one-, and two- bedroom units.

Century West bought the site in March 2014 for $20.8 million, according to Real Capital Analytics.

The firm, led by Michael Sorochinsky, also developed the three-building “K2LA” in the same neighborhood. It’s also behind several residential complexes in Santa Monica and a retail development on Broadway, among others.

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