We were able to create a great coworking lounge as well as build out a great entertaining space on the rooftop for stargazing, yoga, movie nights, dancing, great food, drinks and ocean and city views.It was in decent condition, just a lot of deferred maintenance, Has appreciated.

I don’t see a space for you to fit in.

Ask 3 or 4 companies that work with the size and type of deals you're analyzing and you'll likely pick up some themes. 

For LA, I think you want to get the max bedrooms that you can given the space because the rents are going to be pretty juicy if done right.

There is even more, but space limits the response.Yes, I believe people will get sued and some may go to jail.

I don't need to but it is worth it as I have my own space.

Value adds that could bring up cashflow/value:- renovating units to bring rent up to 6-7k/month - ability to rent out parking space on the property as lot is large - trailers, parking, RVs etc - about 1-2k/month cashflow. - property had TDR trasnferable development rights and can be built 5 stories on it.

Do you know who is in that space?

I think there are two maybe 3 ways to look at this in my mind.  1) you go into it and bring it all up to modern standards but using that old charm to basically take what is there bring it up to modern standards and rent it out essentially I'm thinking cocktail bar or something trendy like that.2) most banks are on really good centrally located real estate if this is true, then I'd consider it for the dirt, plan to scrape the lot and go vertical with whatever the highest and best use is.3) a kind of combo of the two, if the lot is in a good location and its doable, pull the vaults or other "character pieces" out of the building, scrape the lot, and build whatever is best suited for the site there, but incorporate those historical pieces into the final designs.Is the site near a major retail area? 

Instead they are "flex spaces" or "offices".2.