Building last sold for $4M. Then Banksy painted a small mural on it…

Asking price went to $30M

An historic building in downtown Los Angeles which is adorned with a world-famous Banksy artwork is being sold, and its owners hope the addition of the subversive artist’s work will push the price above $30 million.

Banksy painted the mural in 2010 while in Los Angeles for the premiere of his documentary, Exit Through the Gift Shop. Tarina Tarantino and Alfonso Campos bought the building, at 908-910 S Broadway, in 2007 for $4 million and said that over the following decade they spent about $1.8 million on renovations…

The couple told The New York Times that tenants pulled out of leases during the pandemic and they filed for Chapter 11 bankruptcy protection. As a result the building will be sold to the highest bidder next month.

Tarantino and Campos believe the building is worth $16 million. However, they say the addition of the Banksy pushes the price substantially higher.

Yeah, Banksy rocks! What a talent.

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