How much would you pay for an original Banksy mural? How about a building in the heart of the L.A. Fashion District? The highest bidder for this property will get both.
Hilco Real Estate announced yesterday the structured sale of an iconic Banksy mural, Swing Girl, along with the building that wears it.
Buyers have a rare opportunity to own a priceless work of art along with a cultural landmark in a prime Los Angeles location. Tarina Tarantino and Alfonso Campos, who paid $4 million for the building in 2007, hope to get $30 million at auction.
A piece of Banksy history
Swing Girl is Banksy’s only mural in Los Angeles that remains intact and in its original location. Located in a car park on Broadway, Swing Girl appeared in 2010, a few days before the L.A. premiere of Banksy’s film, Exit Through the Gift Shop.
For over a decade, the mural has remained undisturbed and serves as a prime example of how the artist incorporates his work into the existing urban landscape.
Many speculate the artist created the mural as a commentary on the lack of safe places for kids to play in what is widely recognized as a rough area of Los Angeles. It’s also possibly meant as a demonstration that we don’t need expensive equipment to enjoy ourselves in whatever environment we call home.
Real estate with star power
While the Banksy mural is arguably more famous than the building that wears it, the latter has its own historical and cultural significance.
The art nouveau/gothic revival mid-rise at 908-910 S Broadway is a celebrity in its own right, appearing in the 1923 film, Safety Last! Silent film star Harold Lloyd famously scaled the outer façade of the building and dangled from the arms of the clock on its exterior.
Even without that cultural reference, the newly-renovated building is located on the border of L.A.’s Historic Core and its Fashion District. Built in 1914, it underwent an extensive all-expenses paid renovation in 2018 to restore its original glory.
Whoever scores the winning bid will have 26,000 square feet of top-rate commercial real estate space, with class-A retail space on the first floor and basement space that would be ideal for a retro speak-easy type bar.
Hilco Real Estate is the brokerage behind the structured sale of the Banksy mural plus building package deal.
This sale presents an unprecedented opportunity to own a treasured Banksy mural, a unique piece of Hollywood history and an icon of Los Angeles culture contained within a beautifully restored art nouveau landmark. 908-910 S Broadway’s one-of-a-kind characteristics provide limitless potential for anyone interested in the prestige and functional capabilities that come with its ownership.
Offers on the property are due October 30th of this year.