Commercial Real Estate Auction in Downtown LA Delivers $8.5M for Iconic Property Featuring Banksy Mural
An internationally marketed commercial real estate auction captured global interest for a downtown LA building adorned with an original Banksy mural.
8.5m+
Closing price
40 days
Total marketing period
60 days
Total closing period
Challenge
Hilco Real Estate Sales (HRE) was retained to manage the sale of a seven-story office building in downtown Los Angeles as part of a Chapter 11 bankruptcy proceeding. The property’s standout feature: a one-of-a-kind mural, “Girl on a Swing” by world-renowned street artist Banksy. The mural elevated the asset beyond its real estate value, attracting interest from both investors and the global art community. The challenge was to execute a high-visibility sale within strict court-mandated timeframes.
Strategy
To maximize exposure and buyer competition, HRE launched a customized 40-day marketing campaign that extended beyond traditional real estate channels. Our team:
- Developed a high-impact marketing strategy targeting real estate investors, art collectors, and international buyers
- Positioned the property as both a commercial asset and cultural landmark
- Hosted a flagship promotional event to elevate visibility and drive interest
- Ensured the process complied with bankruptcy court procedures while moving swiftly to close
Results
The campaign generated immediate traction from buyers worldwide, resulting in multiple qualified offers and a rapid closing.
- $8.5M Closing Price
- 40-Day Marketing Period
- 60 Days from Launch to Close
- Multiple Qualified Bids
- Seamless Court-Approved Sale Process
“We didn’t just sell a building—we sold a cultural landmark. By bridging the worlds of real estate and global art, we turned a bankruptcy challenge into an $8.5M success story in just 60 days.”