DTLA is more than offices—it’s a lifestyle hub with trendy bars, cultural landmarks like The Broad, and new residential and tech developments. Owning a tower here means staking a claim in a city that’s redefining urban living, where glittering skyscrapers meet vibrant culture, from the chic eateries of the Arts District to the iconic Walt Disney Concert Hall.
It’s a place where business thrives, creativity flourishes, and the city’s heartbeat pulses through every street. But just how easy is it to snag a tower in this dynamic landscape? Thanks to plummeting property values in DTLA’s office market, driven by post-COVID remote work trends, high vacancy rates, and rising interest rates, some prime properties are now available at steep discounts.
The DTLA Skyline: A Beacon of Opportunity
DTLA’s skyline is a stunning blend of architectural marvels and modern ambition, making it one of the most exciting places to invest. Towering structures gleam against the California sun, housing top-tier businesses and drawing global attention.
Take the EY Plaza at 725 S. Figueroa Street, for example, a 41-story Class A office tower marking the northeast entrance of the Figat7th shopping bowl.
Designed by Skidmore, Owings & Merrill in 1985, it boasts LEED Platinum certification. This high rating is a result of the building’s variety of green features, energy-efficient mechanical systems, water conservation measures, and a focus on indoor environmental quality.
Back Down Memory Lane…
The EY Plaza has a rich history as a cornerstone of the city’s commercial landscape. Built in 1985, this 900,000-plus-square-foot tower was designed to impress. With its open-air layout and modern amenities, EY Plaza was a symbol of DTLA’s office market strength, earning its name from anchor tenant Ernst & Young, a global professional services firm.
Snagging a Deal on the EY Plaza
Snagging a DTLA tower like the EY Plaza is simpler than it seems. Owned by Brookfield DTLA Fund Office Trust Investor, the property has had its share of financial hardships.
As of September 2025, the EY Plaza, a 41-story office tower is valued at $150 million—a sharp drop from $211 million in 2023 and $446 million in 2020. It’s decline stems from post-COVID shifts, like remote work reducing office demand, high vacancy rates (DTLA’s offices were 26.6% empty in late 2023, now closer to 30-33%), and higher interest rates making loans costlier. The building’s occupancy, reported at 74% in 2022, is likely lower now, with vacancies in the area around 20-26%.
Despite these challenges, EY Plaza offers a unique chance to invest in a prime DTLA asset at a discount in a market ripe for recovery.
The EY Plaza’s receivership and looming foreclosure is the ticket to a potential bargain.
For a savvy investor, this receivership and the looming threat of foreclosure could represent a rare entry point. After its owner, Brookfield, defaulted on a loan in 2023, the property entered receivership, meaning a court-appointed manager controls it. The task of receivership now falls on Gregg Williams who recently partnered with Colliers, a real estate firm, to find a new buyer.
Step right up! Colliers is guiding investors through the sale, marketing the property’s non-performing loan. The firm is working alongside the receiver to find a buyer offering detailed insights and financing connections to help investors snag this DTLA tower at a discount.
But, don’t wait! This distressed asset isn’t a failure of the city itself but rather a sign of a market in flux. It presents a unique opportunity for investors to redefine a landmark in a climate that is actively exploring solutions like office-to-residential conversions, back-to-the-office mandates, and upgrades to smart building technology to ensure the value of our great city reaches the same heights as our office towers.
