When shopping for rental lofts, always ask about parking as the lower priced units seldom include it. A good condo loft rental moves quickly and often has multiple applicants so it's important to be ready to sign a lease when you go out looking.
I work daily in the downtown rental loft market, know it intimately and would be happy to help.
Luckily for you the rents have come down quite abit over the last couple of years. However, the market has stabalized and were seeking on average 15 to 30 day list periods for property that is priced right. For your area and square footage count the range would be $1,100.00 to $1,700.00 depending on building ammenities.
if I could add a tip...the DTLA area has seen a fair share of property owners in deafult. Be sure to interview the agent as well as the property owner to ensure they're not in default on their loans. Your agent can and should easily be able to figure this out for you. If they are in default and NOT paying their mortgage you can get yourself into a bind. Also, include in your lease agreement a Tenant Estoppel Certificate - which is a recertification of your Security Deposits paid to the property owner.
I have two lofts in the DTLA area @ 7th / Spring and know the area well. Let me know if you'd like my assistance.
Prudential California Realty
Pacific Design Center- West Hollywood
8687 Melrose Avenue, Suite G271
West Hollywood, CA 90069
323 466 5358 Offc.
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Rents in that area are going beween $1,600 to $1,800mth.
Contact me, for your showing! I am available to assist you.
Keller Williams Realty
direct 661 713-8780
Your question is vague, so I'll do my best to give you an estimate of what a 700sq.ft. loft will cost in rent. In general, you'll be looking at anywhere from $1500 to $2100 per month. It depends on the building, neighborhood and amenities. 7th & Hope sounds like the Roosevelt, which is a beautiful, architectural building that has been converted. If you're renting direct from the developer, you'll pay top dollar. There are no individually owned condo's in this building yet, as escrow's have not closed, but typically, if you rent from one individual homeowner, the rental rate may be less or at least negotiable.