The 52-unit Hollywood Tower apartment building has sold for $20.1 million, or about $386,500 per unit, according to the L.A. Business Journal.
Listed on the National Register of Historic Places, Hollywood Tower was built in 1929 in a faux French Normandy style, designed by architects Cramer and Wise. It was remodeled in 2010, including renovations to the lobby, corridors and some units.
The iconic building was also the inspiration behind Disney’s Tower of Terror attraction, along with The Twilight Zone TV series.
Joseph Grabiec of Institutional Property Advisors, Kevin Green and Gregory Harris represented the seller, MWest Holdings, as well as procured the buyer, a family partnership.