Storytellers and Story Sellers

Storytellers and Story Sellers 
By: Nicholas A. Dunlap, CPM 
Good real estate tells a story.  A family story, a town’s story or in some cases, the story of an era.  Some of these stories are inherent to those of us who work behind the scenes: the owners, the brokers, the managers, the developers who make the building what it is or what it ought to be.  Other stories are realized at first sight by the naked eye.  In rare occasions, these storied beauties come on display.    
A Los Angeles landmark recently traded hands.  A bit of history that not only reflects the entertainment industry’s long-standing grandeur in the City, but also reflects the strength of Old Hollywood charm in encouraging investors to step to the plate so-to-speak.  The 56 unit El Royale, located at 450 N. Rossmore Avenue in Los Angeles, sold for an astonishing $526,785 per door, or total price of $29,500,000.  
Nothing screams old Hollywood like Art Deco and this building is located in Hancock Park, near studios and the Wilshire Country Club.  There has been plenty written about the transaction, including full articles (not blurbs) in the WSJ, Globe Street, Hollywood Reporter  and even Entertainment Weekly.  The equal coverage among business/real estate publications and entertainment gossip and glamour outlets reflects the significance of the building’s presence as much as it’s residents.  
Celebrity residents of both current and former years include: Josh Brolin, Ben Stiller, William Faulkner, Clark Gable, Mae West, Michelle Williams, Famke Jansen, Nicolas Cage, Jack Black, Katie Holmes, Billy Zane and Allison Brecker.  Strategically and prior to the sale, perhaps to garner interest or to pollute Google with additional information, Management caused a fuss by releasing the names of it’s residents.  You can read more about that by clicking here.