Tower 1 Of Metropolis Los Angeles Now Over 50% In Contract

LOS ANGELES, May 19, 2015 /PRNewswire/ -- Douglas Elliman Development Marketing, the exclusive sales and marketing agent for Metropolis Los Angeles, is pleased to announce that Tower 1 of the highly-anticipated, mixed-use project in Downtown Los Angeles is now over 50% in contract.

Residences at Tower 1, part of the first phase of the expansive Metropolis community and designed by Gensler, features the finest materials, top-of-the-line appliances, energy-efficient design, maximized light and space and cinematic views of the Downtown Skyline and beyond from every angle.

"Metropolis LA has garnered an unprecedented amount of interest from buyers in this market," said Susan de França, President & CEO, Douglas Elliman Development Marketing. "The pace of sales and rate of absorption during phase one has surpassed expectations and validates the current high demand for new condominium product in Downtown Los Angeles."

Once complete, the $1 billion dollar Metropolis community, which brings together all the elements of a life well-lived in one dynamic city block, will feature three residential towers and a high-rise hotel, all set above a carefully curated collection of high-end retail and fine dining establishments.

"We're thrilled by the response from consumers and the incredible momentum in sales at Tower 1 at Metropolis thus far," said Michael Altneu, Vice President of Marketing, Douglas Elliman Development Marketing.

 "We've achieved prices that are at a premium in the marketplace, supporting that buyers have recognized a rare opportunity to purchase a home in one of the finest lifestyle buildings and vibrant urban communities in Downtown Los Angeles."

Metropolis recently unveiled a brand new sales gallery and model residence, allowing consumers and brokers alike to experience the crafted finishes and overall sophistication of the homes.

The largest mixed-use development on the West Coast, Metropolis is being developed by Greenland US Holding, Inc., a subsidiary of Greenland Group, China's largest diversified company. The Metropolis site is strategically located between three of Los Angeles' key neighborhoods as it borders the Harbor Freeway and is situated between the Financial District to the north and the L.A. Live Hotel and Entertainment complex, including the Staples Center and the Los Angeles Convention Center, to the south.

"We're so proud to be working with Greenland USA and an award-winning team to not only change the skyline of Los Angeles, but to be setting new benchmarks in the Los Angeles marketplace," said Lapchih Fan, Director of Sales for Metropolis.

Construction of phase 1 is expected to be complete in late 2016. To learn more, or to set up visit to the sales center or tour of the new model residence, please visit MetropolisLosAngeles.com or call 213-784-7695.

About Douglas Elliman Development Marketing:
Douglas Elliman Development Marketing, a branch of Douglas Elliman Real Estate, offers unmatched sales, leasing and marketing expertise for properties throughout the United States including New York City, Long Island, Westchester The Hamptons, Los Angeles, Aspen, South Florida and internationally. The firm ranks as one of the nation's most prominent sales, leasing, and marketing firms. Drawing upon decades of experience and market–specific knowledge, the Elliman team offers a multidisciplinary approach that encompasses every aspect of real estate including comprehensive in–house research, product development, marketing, sales, leasing, operations, property management, and mortgage financing, from concept to completion. Through a strategic global alliance with Knight Frank Residential, the world's largest privately owned property consultancy, the company markets their properties to global audiences in 55 countries across six continents.

About Douglas Elliman Real Estate:
Established in 1911, Douglas Elliman Real Estate is the largest brokerage in the New York Metropolitan area with over 80 offices in New York City, Long Island, the Hamptons, and Westchester/Putnam across a network of over 5,700 agents.  Consistently ranked among the top four residential real estate companies nationwide since 2007, Douglas Elliman has a significant presence in South Florida, Los Angeles, Connecticut, and Aspen.  Moreover, Douglas Elliman has a strategic international global alliance with London-based Knight Frank LLP for residential business in the worldwide luxury markets spanning 55 countries and six continents.  The company also controls a portfolio of real estate services, including Douglas Elliman Development Marketing, Manhattan's largest residential property manager, Douglas Elliman Property Management, DE Commercial, and DE Title.  For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, please visit www.elliman.com.

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SOURCE Douglas Elliman Real Estate

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