Third-tallest tower in Los Angeles sells for 45% less than last purchase price as remote work, interest rates drive down office values

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I don't think a lot people would be averse to 100% working in the office if the commute was a fifteen minute walk. For most, it's the time, hassle, and expense of commuting that is a drain on their soul. Of course there are other factors, but in my experience, gathering at the water cooler and lunch with coworkers, etc., are sorely missed. Just not enough to justify hundreds of hours of my life in gridlocked traffic.

So, if they convert a few of these buildings to homes and parks that make living in the city affordable and pleasant, I think most people would be glad to use the rest as workplaces. Imagine a park and daycare for the kids only an elevator away. Eateries and shops in walking distance. No need to own a car.

We could have that if we get our act together. Now's the time.

Exactly. Spending 2 hours out of each day stuck in traffic for only a 20mile drive is psychotic.

LA's transit system, hell even the idea of a central 'downtown', was never designed for effective mass transit. The metro rails that are expanding are better, but I know so many people that refuse to use it out of fear of being stabbed or mugged, the disgusting homeless encampments that are around the parking lots of the stations, etc..

They don't even have to convert the entire space, just start incorporating mixed use spaces more so people have the option to live closer or in the actual building.

It's not just the distance. I don't want to work in an open office environment 5 days a week. I also get a full kitchen at home instead of a microwave. I can start dinner or keep an eye on a smoker while working at home. Yes it would be nice to have more social experiences with coworkers, but it's also extremely helpful to be able to isolate from coworkers when focus is needed.

I hear that. Having children and pets is also better when you're home.