Exchange L.A.

Imani Waddy

The view from the mezzanine

By Jennifer Hadley

Opulence Abounds In The Former Pacific Stock Exchange

From the moment that Exchange LA opened its doors in June of last year, the nightclub has been receiving no shortage of attention from clubgoers and media alike. This is ostensibly due to the fact that its initial exclusivity (special events only) had downtown abuzz with questions as to just what sort of renovations had taken place inside the historic building. It had to be more than just a nightclub to have national magazines such as Fast Company touting its opening.

Located at 6th and South Spring Street, Exchange LA is in some ways a traditional nightclub, but unlike any other in Downtown. It's certainly a stark contrast to the more low-key bars and restaurants that have been popping up throughout Downtown. One reason for this is the venue itself.

Built in 1929, the four-story, 25,000+ square-foot building originally served as the West Coast's reply to Wall Street. As the home of the Los Angeles Stock Exchange, which opened in 1931, the building would ultimately become home of the Pacific Stock Exchange in 1956, and until 1986 was an active trading floor. Then – nothing. The building sat more or less vacant for years.

But that was before Adi McAbian and Camill Sayadeh decided to bring a bona fide nightclub to Downtown. The vision for Exchange LA, McAbian writes, came from a noticeable lack of a "true metropolitan, cosmopolitan club in the Los Angeles area (one akin to a clubbing experience found in cities such as Chicago, Moscow, New York, London). Basically [L.A. was lacking] a sick club in an old historic building situated at the heart of a metropolitan area."

Moreover, there was a very apparent "lack of a true dance club in [Downtown]," a gap that Exchange LA was destined to fill. And finally, Exchange LA was able to capitalize on its location on Spring Street as the "unofficial partying heart" of Downtown. "Our block has 2,000 lofts on it, a few neighborhood bars, grocery stores and cafes that are either open late hours or all night." However, as McAbian points out, prior to this point Los Angeles had no heart. "There are aortas, but no real heart to Los Angeles; it's an amalgamation of suburbs, Century City, Hollywood." By that reasoning, what better block in Downtown to open the first no-holds-barred nightclub? After all, the 600 block of South Spring is Downtown's historic core, a pleasant tree-lined street with pedestrians covering the sidewalks day and night.

But the painstaking process of renovating the colossal venue would take nearly two years and wouldn't come cheap. In fact, it would cost more than $5 million. But that whopping price tag would eventually pay for Exchange LA to give any European nightclub a run for its money.

In addition to having six full-service bars, VIP lounges, table service, and (a personal favorite selling point) more restrooms than any other club in Los Angeles, McAbian and Sayadeh spared no expense to make sure that Exchange LA was impressive beyond just the original solid bronze doors of the building. The interior of Exchange LA is, in no uncertain terms, stunning. The marble staircase that greets you upon entry reminds me of something I'd see at Versailles. With a hand-painted, 40-foot-high ceiling, and replete with an antique stock trading monitor, everything about the interior feels positively glamorous. In McAbian's words, the true appeal of Exchange LA comes from its juxtaposition of old and new. "We respected what was there, leaving the artistic integrity of the original building intact," he says, but then they brought in the state-of-the-art technology that has made Exchange LA such a highly coveted venue for so many occasions.

Indeed, it's the audiovisual capabilities of Exchange LA that make it, for all its original beauty, a modern masterpiece. Boasting a 200-square-foot LED screen display (which measures a whopping 9 feet by 16 feet and comprises more than a million individual lights to ensure optimal high-resolution clarity), a Funktion One Resolution 3 sound system (one of only two in the world), and lighting by Stephen Lieberman (responsible for lighting premier nightclubs from coast to coast), Exchange LA is far more than your run-of-the-mill dance club.

With the ability to accommodate up to 1700 guests, suffice it to say that Exchange LA is massive. The original trading floor, which is the focal point of the venue and serves as the main dance floor, is called (duh) the "Trading Floor." Then there is the "Federal Reserve" floor that is, not surprisingly, available by reservation only. And way up on the fourth floor you'll find the private "Board Room," which will also necessitate that you access it via a secret elevator. There is the "Sky Loft," which can hold up to 35 of your closest friends. The "Rockefeller Room" will comfortably hold 50 guests. Table and concierge service, a designated catering area, and a raised stage platform are also part of Exchange's opulence. For good measure, a portable runway is available, and incredibly convenient valet service is available just in front of the entrance.

However, Exchange LA is not just a nightclub packing thousands each weekend. The venue is also used for private functions, corporate events, fashion shows, and live entertainment. To date, Exchange LA has already partnered with universities and hosted parties for cultural events such as the Outfest Film Festival gala. In fact, the first time I went was not for a nightclub experience at all but for a Mindshare event last summer with several hundred fellow Angelenos. The space seemed designed specifically for the event.

But of course Exchange LA is first and foremost a thriving nightclub, drawing more than 1,000 20-somethings to its doors every weekend for live music, DJs, and plenty of drinking and dancing. However, the success of the club is also partly due the fact that it's a highly sought-after film location. Television shows such as CSI: NY and The Defenders have shot there. Hip-hop royalty including 50 Cent, Akon, Snoop Dogg, and Dr. Dre have all selected Exchange LA as a location for forthcoming projects. Oh, and that tiny little movie The Social Network? Yep, they shot scenes there, too.

As for business? Well, it's booming. During the weekends the crowd is largely made up of young professionals cutting loose after a long week starting with Feel Good Fridays, featuring DJs from across the globe. Saturdays boast various events, promoted by such companies as Visionshock Entertainment. The rest of the week the venue is booked with private parties and functions ranging from corporate to charitable to fashion events.

As for the future of Exchange LA, McAbian is nothing if not optimistic about the coming year. "The club embodies Downtown, much in the way that the big, grand clubs in other cities do. It will become a staple of the city."

Exchange LA. 618 South Spring Street, Los Angeles 90014.

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