April 21, 2011 |
The downtown Los Angeles apartment building know as the Pegasus has been sold to Chicago real estate investment trust Equity Residential for $100 million. It was one of the largest residential property sales ever in the central business district and a sign that downtown's revitalization has caught the attention of national institutional investors, said real estate broker Marc Renard of Cushman & Wakefield. "Equity Residential's purchase is a tremendous endorsement of downtown L.A.," Renard said.
March 19, 2012 |
The parking lot behind Hollywood landmark restaurant Musso & Frank Grill was purchased by a Los Angeles developer who intends to build a mixed-use complex on the site. Champion Real Estate Co. bought the paved 1.1-acre site behind the Hollywood Boulevard restaurant and between Cherokee and Las Palmas avenues from Common Fund. The price was not disclosed, but Hollywood real estate experts familiar with the property valued it at nearly $10 million. Last year, Champion paid $20 million for a 2.76-acre property at the northeast corner of Highland and Selma avenues, which it also intends to develop.
August 11, 2004 |
The Eastern Columbia Building in downtown Los Angeles, considered one of the region's finest examples of Art Deco architecture, is slated to be converted from offices to condominiums as downtown's housing construction boom rolls on. Hotel and apartment developer KOR Group said Tuesday that it purchased the 13-story building at 849 S. Broadway and an adjacent parking lot from Denly Investments for $20 million.
September 13, 2005 |
The historic Broadway department store building at one of the most famous intersections in Los Angeles is being converted to 96 luxury condominiums. Kor Group has started renovation of the 10-story building at the southwest corner of Hollywood Boulevard and Vine Street that opened in 1927 as a Dyas department store and later became a Broadway branch. It has been vacant for years.
October 26, 2003 |
The jazzy red neon sign on the roof of the Ravenswood apartments in Hancock Park has been a semaphore of swellegance since 1928. In August, the city moved closer to making the building an official landmark when the Cultural Heritage Commission recommended the Ravenswood as a Historic Cultural Monument. The seven-story Art Deco hothouse at 570 N. Rossmore has kept its aura from Hollywood's golden era, when Paramount Studios was rumored to have leased apartments there.
April 9, 2002 |
As the travel business struggles to get back on its feet, two new high-end hotels in Burbank and Santa Monica plan to overcome a challenging environment by offering chic accommodations at rates attractive to price-conscious business travelers and tourists. The $20-million Graciela Burbank, which opens Wednesday, and Viceroy Hotel, a $42-million project scheduled to debut this summer, will cater primarily to business travelers in the entertainment, advertising and related industries.