Some seven months after it first zoomed onto the market with an aggressive $7 million ask, Hollywood director Justin Lin has officially sold his Downtown Los Angeles penthouse in the historic Biscuit Company Lofts for $5.5 million — still easily the priciest residential real estate deal ever inked in the Arts District, topping the previous $2.5 million record; the sale also set another price milestone for the neighborhood at $1,279 per square foot.
Records show the buyer is Reg Harpur — a longtime Warner Bros. executive — who forked over nearly $3 million more than the “Fast & the Furious” director paid actor/director Vincent Gallo for the place a decade ago, back in 2012. During Gallo’s ownership, the spread was leased to actor Nicolas Cage, who lived there in 2008.
Originally crafted by architect E.J. Eckel in 1925, as the West Coast headquarters of Nabisco, the building was transformed into a live/work community in 2007 and is designated as a Historic Cultural Monument. Lin’s recently sold unit includes two bedrooms and three baths spread across 4,300 square feet of flexible living space on three levels, plus 3,000-plus square feet of outdoor space encompassing two terraces, as well as a roof deck offering sweeping skyline views.
Vesta Home-designed interiors are complemented by the original maple floors, high ceilings and exposed brick walls. An office space can be found on the first floor, while the second floor hosts a combined living/dining area, and gourmet kitchen equipped with high-end stainless appliances — all opening up to a spacious terrace. The master retreat holds court by itself on the third floor, complete with its own private terrace, and a spa-inspired bath outfitted with dual vanities, a soaking tub and glass-encased shower; and the fourth floor is reserved for the roof deck.
Rounding it all out: a $1,327 monthly HOA fee allowing Biscuit Company Lofts residents access to a 24/7 concierge, pool, gym and underground parking. The dwelling also transfers with the Mills Act, which means homeowners can receive reduced property taxes in exchange for restoring and preserving historic structures.
The 50-year-old Taiwan-born director — best known for “Better Luck Tomorrow” and the “Fast & Furious” franchise (though he recently quit his role as writer/director of the upcoming “Fast 10” installment) — has been using the DTLA condo as an office for his production company Perfect Storm Entertainment and part-time residence. Lin’s primary residence remains in Pasadena.
The listing was held by Justin Alexander and Tab Howard of Compass, and Lin’s brother, Jimmy Lin, of One True Loan; Michael Robleto of Compass repped the buyer.