Over the past decade, Downtown LA has seen a cultural and economic resurgence that has quickly transformed it into a hip, desirable area for working professionals. With every demand comes a supply , and the booming bounty of new real-estate businesses in the area certainly reflects that idiom. Competition is fierce yet few have managed to stay ahead of the game proving to Downtown they truly have what it takes to succeed…
Downtown Weekly recently had the chance to sit down with Eric Kang and Christopher Johnson, two highly successful South Park realtors in a candid discussion about the state of downtown real estate and their own personal business ethos.
Kang and Johnson both exude in-depth knowledge when it comes to Downtown LA although they took divergent paths before landing in the real-estate world with a focus on promoting an urban, downtown Los Angeles lifestyle to their clients.
Native Angeleno Kang, now specializing in high-end lofts and condos, lived for 3 years prior working in the fashion industry in the Garment District of Manhattan selling textiles/fabrics to big fashion brands, such as Polo Ralph Lauren, Jones. When Kang got back to LA from New York, real estate seemed like a natural fit⊠his experience in sales and client service had prepared him for the job.
Meanwhile, Johnson took the field after moving from Washington D.C. in 2011. âI had the idea that I may want to get into real estate at some point in the back of my mind. As marketing director of the Venice Art Walk & Architecture Tours,â he remarks. âI was exposed to many beautiful, architecturally significant homes on the Westside and my interest in real estate definitely grew stronger during that time. Once I left that job, I decided to get my real estate license in 2014.â
Since joining South Parkâs Premier Real Estate brokerage last year, both Eric Kang and Christopher Johnson have helped multiple clients buy, sell and lease properties in downtown and beyond.
Johnson was most recently the co-lister on a penthouse loft in Grand Lofts located at 11th and Grand Ave. that closed recently for the highest sale price to date in that building at $1,080,000. Kang, on the other hand, has also been busy selling and leasing units in the most exclusive South Park loft buildings, including representing the buyer of a two-bedroom condo in Evo South that sold for $1,845,000 in September.
Kang and Johnson often look ahead, revealing a forward-thinking view of the real estate market that speaks with an youthful exuberance and hunger.
âLA is now embracing the idea of vertical living,â says Eric Kang, âBefore, it was about expanding outwards/horizontally. The idea of condos and high rises has caught on the last few years. Itâs exciting to see this type of market opening up here in LA.â
âEverywhere you look, itâs cranes and construction crews working to bring the next great new apartment or condo building to market, especially in South Park,â concurs Johnson. âI feel like Iâm a part of the developing story of the downtown real estate market and I love helping people see downtown as an expansive, livable area where you can enjoy breathtaking city views of the changing skyline, walk everywhere and rely on your cars less.â
The more we spoke with Kang and Johnson, the clearer it became that these gentlemen have a deep passion for the Downtown scene â one that goes beyond a purely business-motivated level.
âPersonally, I also think it pays to have in-depth knowledge about the inventory and neighborhood amenities within the area youâre focusing on,â Johnson explains. âWhen youâre working with clients, you want to be able to not only offer strategic advice on the current state of the real estate market but also helpful things like the best new restaurants, bars, retail shops, new developments, etc. that are shaping the neighborhood. I also like to be able to recommend other key services my clients may need, including contractors, interior designers, tradespeople, and cleaning services.â
Citing the development of the many new apartment buildings that have recently opened or are opening soon in South Park, both Kang and Johnson also speak on the great potential of downtownâs rental market.
âThere is a ton of growth on the rental side downtown. with the next year or two, exploding with opportunity,â says Johnson.
Planning for the future
âWeâre going to be enacting a strategy to create a pipeline for those who want to rent for a year or so until they have a better sense of living downtown and where the market is going. Many of them may feel priced out at the moment, but thereâs a real possibility that prices will soften in the next few years, allowing more people to purchase propertyâoften for the first time. Eric and I want to be with them through the whole process. We want to get them ready for home ownership.â
Oh, and business is booming. Espousing a customer-centric approach which puts making relationships ahead of clinical transactions holding the peopleâs hands through this process of living Downtown has worked well for the duo. Plus, with an upcoming campaign on the horizon set to fully solidify their presence, Downtown residents new and old ought to wait with bated breath to see what Kang and Johnson will deliver next.
For more information on working with Christopher and Eric, email them at christopher@prebroker.com and Eric at eric@prebroker.com .
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