Mortgage Guarantee Building

Mortgage Guarantee Building
The building in 2008
Mortgage Guarantee Building is located in the Los Angeles metropolitan area
Mortgage Guarantee Building
Location within the Los Angeles metropolitan area
Location626 S. Spring Street, Los Angeles, California
Coordinates34°02′43″N 118°15′05″W / 34.0452°N 118.2513°W / 34.0452; -118.2513
Builtc. 1913
Architectural styleBeaux Arts
Part ofSpring Street Financial District (ID79000489)
Designated CPAugust 10, 1979

Mortgage Guarantee Building, also known as The Sassony and City Lofts, is a historic building located at 626 S. Spring Street in downtown Los Angeles, California. It is a contributing property in the Spring Street Financial District.

History

Mortgage Guarantee Building was built c. 1913 and renovated in 1925.

In 1979, the Spring Street Financial District was added to the National Register of Historic Places, with Mortgage Guarantee Building listed as a contributing property in the district. The building was mostly empty during the 1990s.

Investor Eli Dromy purchased the building in 2001. In 2004, Dromy and developer Izek Shomof converted it to residential and renamed it City Lofts. The cost of the conversation was $8 million ($13.6 million in 2025).

Architecture and design

Mortgage Center Building is six-stories in height, built of concrete, and features decorative cornice, fluted columns, engaged piers, and glass between each pier. The building features a Beaux Arts design and has been described as "boxy." A small second-story-and-above breezeway separates the building from its neighbors.

Inside, the building features exposed brick, hardwood floors, and nearly 16 feet (4.9 m) ceilings.

See also

References

  1. 1 2 Mandell, Jason; Coates, Chris (September 23, 2004). "Project Updates - New Lofts, Condos and Schools Continue the Downtown Momentum". Los Angeles Downtown News. Archived from the original on September 24, 2004.
  2. 1 2 3 "Spring Street Financial District". National Park Service. August 10, 1979.
  3. 1 2 3 4 5 6 Coates, Chris (September 20, 2004). "Springing to Life". Los Angeles Downtown News.
  4. 1 2 Winter, Robert (2009). An Architectural Guidebook to Los Angeles. Gibbs Smith. p. 252. ISBN 978-1-4236-0893-6.