Oceanwide Plaza, the billion-dollar, graffiti-covered, partially built condo project that looms over Downtown LA is still in search of a buyer, but once it sells, its creditors at least know who will be first in line for payment.
A lawsuit to determine lien priority on the maligned set of towers was resolved Feb. 25, with a judge ruling that the project’s lender, LA Downtown Investment, is first in line for payment rather than contractors that are owed millions.