Expensive Living

DOWNTOWN LOS ANGELES — The LA Business Journal is running a story saying that the two penthouses at 1100 Wilshire are under contract for quite a nice chunk of change.

The two 3,200-square-foot two-bedroom condominiums are each under contract for $2.8 million, according to sources close to the transaction. Both penthouse units are on the 37th floor and have sweeping views of nearly the entire L.A. basin.

... At $900 a foot, the price would be nearly double the last high of $540 a foot set by developer Jeff Lee’s Grand Street Lofts, near the Staples Center in downtown’s South Park neighborhood.

The online story makes mention of a full article to appear in next week's issue of the Journal.