Hollywood Tower Apartment Building Sells for $20 Million
The 52-unit Hollywood Tower, which is listed on the National Register of Historic Places, has sold for $20.1 million.
The eight-story apartment property in Hollywood was built in 1929 and partially remodeled in 2010, including the lobby and corridors. The buyer will continue to renovate the site.
The Hollywood Tower has studio, one- and two-bedroom apartments. It also has underground parking and three rooftop decks.
Institutional Property Advisors, a division of Marcus & Millichap, brokers Joseph Grabiec, Kevin Green and Gregory Harris represented the seller, MWest Holdings in the transaction. They also found the buyer, a family partnership.