Being a director in the ‘Fast and Furious’ series of movies has paid well more ways than one with director Justin Lin recently selling his Artist District loft for $5.5 million.
The sale price set a new record for a condo in downtown LA not including the Ritz Carlton Residences at LA Live. The record price was however a substantial discount from the original $7 million asking price.
The property was originally built in 1925 and Lin’s unit had 4,300 SF with 2 bedrooms and 2.5 bathrooms. Lin purchased the loft from actor Vincent Gallo for $2.6 million in 2012. Gallo apparently never lived in the unit however he did lease it to Nicolas Cage at one point, adding to the unit’s Hollywood pedigree.
The unit is a penthouse and has been used recently as the headquarters for Lin’s production company, Perfect Storm Entertainment. The unit was converted from commercial use to live-work loves in 2007. The property is known as the Biscuit Company Lofts after formerly being the headquarters of Nabisco.
The property sits on the 7th through 9th floors with an additional 3,600 SF of useable outside space. The unit has a private interior elevator, high exposed ceilings with exposed ductwork and exposed brick walls.
The property was listed by Jimmy Lin, Lin’s brother as well as Justin Alexander and Tab Howards (The Alexander Team) at Compass.