A trio of unfinished skyscrapers that have become fixtures in downtown Los Angeles and gained global attention for their graffiti-covered façade may get a new lease on life after an unidentified bidder offered $500M for the properties.
Oceanwide Plaza, which sits across from the city’s convention center and Crypto.com Arena, was abandoned by its Chinese developer in 2019 and became a symbol of the postpandemic challenges faced by urban centers.
The buildings gained global attention in December when graffiti artists broke into the tallest building. The effort triggered a flood of similar—albeit illegal—designs on more than two dozen floors, creating a prominent tapestry of spray-painted artwork. The buildings gained further scrutiny after daredevils base-jumped from the top floor in February (see video), while another performed a tightrope stunt in May.
Analysts say the property needs $800M at a minimum to complete.
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