Actor Kevin Spacey has paid $1,200,000 to buy a three-bedroom, 2,460-square-foot work-live loft in downtown Los Angeles.
As we continue to catch up on items over this holiday weekend, we wanted to weigh in on Spacey's purchase of the first-floor loft, which is in the Biscuit Co. lofts in downtown Los Angeles. The Los Angeles Times' Ann Brenoff broke the story back in September of Spacey's purchase of the unit.
Indeed, records show that Spacey's TDS Trust closed on the purchase on August 11, with the deal being recorded on August 21.
Brenoff reported that Spacey, whose Los Angeles residence is a 6,595-square-foot house that he owns in the Los Feliz area, won't actually inhabit the Biscuit Co. loft unit himself. Instead, he bought the loft unit for the use of the cast and crew of the Trigger Street Productions company that he formed in 1997. Trigger Street makes low-budget feature films.
We have written many times about the Biscuit Company lofts, including on May 6, 2007, when we broke the story of baseball star Ichiro Suzuki paying $2,200,000 to purchase a 2,440-square-foot loft in the building, and previously, when we had written about actor and director Vincent Gallo paying $1,645,000 and $508,500 for two separate loft units, one of which was to be Gallo's 2,380-square-foot, seventh-floor living quarters and one of which was to be a 1,190-square-foot, first-floor office. Gallo apparently lost interest in the idea of the office, however; records show that by last fall, he had turned around and sold the office unit to another resident in the building for $510,000, according to public records.
Built in 1925 and with units ranging from 750 square feet to 3,779 square feet, the Biscuit Company Lofts project is located at 673 S. Mateo Street in downtown L.A. but now uses the address of 1850 Industrial Street. It's still unclear if Nicolas Cage (pictured here with Spacey) has purchased anything in the building. Cage was reported by Brenoff in September to have leased a unit with an option to buy, but records don't yet show that Cage has actually purchased a unit there.