Graffiti Towers in LA Set for Transformation After Bankruptcy Deal

WHO:

NY Post - Oceanwide Plaza, the Chinese developer of the Graffiti Towers project.

WHAT:

NY Post - The U.S. Bankruptcy Court for the Central District of California approved a revised liquidation plan for Oceanwide Plaza.

Bloomberg Markets - The Graffiti Towers project is valued at $1.2 billion.

NY Post - The sale of the Graffiti Towers is set to be $470 million.

WHERE:

NY Post - The Graffiti Towers are located in downtown Los Angeles.

WHEN:

NY Post - The sale is expected to occur ahead of the 2028 Olympics.

WHY:

Bloomberg Markets - The project was abandoned after the original developer ran out of money more than seven years prior to the current events.

HOW:

NY Post - The bankruptcy court's approval clears the way for the sale and potential completion of the Graffiti Towers.

(UPDATED July 21, 2026 02:52 UTC)

The U.S. Bankruptcy Court for the Central District of California has approved a revised liquidation plan for Oceanwide Plaza, paving the way for the sale of the Graffiti Towers project in downtown Los Angeles, which is valued at $1.2 billion. The sale is expected to take place for $470 million ahead of the 2028 Olympics, following the project's abandonment due to financial issues that arose more than seven years ago. This court approval clears the path for the potential completion of the Graffiti Towers, which had been stalled for quite some time.