L.A. County condo sale ends amid condo boom

The sale of L.S. Forest Hills condominium in Los Angeles County will end this week, a company announced Tuesday.

The sale of River Place condominium at the Lakeview Condominiums complex on the west side of the city will close at the end of this month, said L.L.A.-based developer L.E.T. Development.

The company said it has retained two outside firms to evaluate the potential sale of the condominium and to provide a final determination by April 11.

The River Place condo opened in 2017, and was purchased in late 2017 by L.C. Condo Company, which had a $1.3 billion purchase offer from River Place LLC for a $100 million, 5.5-story building.

Lakeside condominium owners also purchased River Place in late 2018, with a $75 million, 6-story project.

The L.I.

A-based developer, which is part of the Lakeland Development Group, plans to open the River Place building to residential occupancy in 2018.LAKELAND-based L.J. Realty is the owner of River place and Lakeview condominium complexes.

The project, which includes six buildings totaling 11 stories, includes four retail units, a restaurant and a residential amenity tower.

The developer said it plans to build a new retail and restaurant on the top floor of RiverPlace and Lake View condominium buildings, but declined to provide any additional details about the new location.

Laksan Properties, a subsidiary of the Laksan Development Group of California, will purchase River Place.

The Laksans will operate the River place property and the Lakeplace condominium.