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Everyone has noticed the deeps cracks in the local housing market — especially Downtown developers that can’t even get as much as a new name on their interest lists.

Between the ongoing lending crunch and a saturation of condominiums, some sales teams are pushing their creativity (and generosity) to the limits to rise a step above the competition. To find a bright spot in all the market mania, it’s ironic we have to look to some of the priciest residences for sale in the area - the Ritz-Carlton Residences at LA Live.

According to LoftLA.com, prices are running in the ballpark of $1.8 to $2.6 million for a two-bedroom (1,700 to 2,600 square feet) and $2.8 to $5 million for a three bedroom unit (2,000 to 4,300 square feet). Even still, project representative Joan Wickham tells angelenic that two-thirds of the 224 luxury condos have been sold to date.

No doubt the deep-pocketed celebrities and international business persons attracted to this property live above standard buying means, but the success of Downtown’s new signature tower is encouraging nonetheless.

With almost two full years left until the planned 2010 completion, odds seem to be playing in their favor of selling out by opening day.

Check out these related posts:

1. a glimpse at what multi-millions buy you at the ritz
2. angelenic co-hosting housing tour this saturday
3. housing tour a chance to see what downtown has to offer
4. residences @ bixel project down-sizes, goes rental