For Immediate Release
Fifteen Group Announces Completion of Morton Village
March 28, 2016 11:00 AM Eastern Daylight Time
LOS ANGELES — Fifteen Group has successfully completed sales at the Morton Village development in the Echo Park neighborhood in Los Angeles. Morton Village is a limited edition, gated community of 18 single-family, small lot, detached homes, comprised of 15 contemporary three-story homes with rooftop decks and three quaint vintage bungalows.
Echo Park was identified by Fifteen Group as an emerging neighborhood in 2010, the site was acquired in 2011, and a partnership was formed with Van Daele Homes to build the 18 homes. Morton Village is centrally located with easy access to the 5, 101, 10 and 110 freeways, providing residents with a convenient commute to Downtown Los Angeles, Burbank, Glendale and Hollywood. Echo Park is home to many amenities, activities and entertainment such as Dodgers games, trendy eateries and shops, nearby parks, and Hollywood nightlife.
The two- and three-bedroom contemporary homes at Morton Village feature up to three and one-half baths and 2,044 square feet. Second floor living areas offer en suite bedrooms with private baths, and the ground floor of each residence includes an attached two-car garage with extra space for bikes, storage and a private laundry area. Each of the 15 modern homes has a spacious rooftop deck creating a great gathering place for entertaining and enjoying views towards Elysian Park and the Downtown Los Angeles skyline.
The three charming, vintage-style one-bedroom, one-bath bungalows at Morton Village are a nod to the historic Craftsman and cottage-style architecture of Los Angeles. Their renovation was incorporated into the development plan after working collaboratively with community organizations. These approximately 600-square-foot homes also come with private yards and designated parking spaces within the gated neighborhood.
Bungalow units were sold for an average of $534k, and new home prices with buyer options ranged from $776k for a 1,522 square foot 2 BR / 2.5 BA unit to $960k for a 2,044 square foot 3BR / 3.5BA unit.
About Fifteen Group
Fifteen Group is a family-owned real estate investment firm based in Miami, Florida. Fifteen Group's investment activities are opportunity-driven, value-added acquisition and development projects. Historically, Fifteen Group concentrated primarily on the multifamily sector, but has evolved to include expertise in the office, retail, mixed-use, industrial, land and residential development sectors. Currently the firm invests in all major real estate asset classes, in real estate secured debt, and in corporate private equity transactions.
Fifteen Group Capital LLC
Jesse Biegel, 213-282-2044