Brookfield’s Bank of America Tower in downtown Los Angeles has seen its appraised value plummet by 69%, mirroring broader commercial real estate struggles in urban cores post-pandemic. Once valued at $605 million, the property is now appraised at just $188 million, burdened by $400 million in debt. This sharp decline is part of a broader trend fueled by soaring vacancy rates, now at 38% in Los Angeles, and rising borrowing costs. Remote work, economic uncertainties, and shifts in tenant demand have severely impacted office spaces, with national office market values falling nearly 53% since early 2022. Brookfield faces defaults on multiple properties, totaling $2.2 billion in debt. As interest rates stabilize, new owners may emerge, but the ongoing reset signifies a major restructuring of downtown commercial real estate markets. The financial strain underscores systemic challenges in urban development, highlighting concerns over liberal policies fostering economic instability.