One of West Hollywood’s most iconic hotels is now for sale.
The Standard Hotel at 8300 Sunset Blvd. has been closed since January after a hike in rent and the impact of the pandemic made it untenable for operations to continue.
The Standard’s lease was held by the Ferrado Group, a real estate investment firm based in Spain with a location in Newport Beach. The group is no longer involved after a lawsuit was settled this past summer.
The hotel first opened in 1999 under the guidance of hotelier Andre Balazs. It has since grown into a chain of boutique hotels with six locations including downtown Los Angeles, Miami, New York and London.
Los Angeles historian Alison Martino reports the building opened in 1962 as the Thunderbird Hotel, then later changed its name to the Hollywood Sunset Hotel. In the 1970s, it became a retirement home called the Golden Crest and continued to be a retirement home until Balazs opened the Standard.
The Real Deal reports:
“The property is up for sale by the owner of the underlying real estate,”, a spokesperson from the hotel operator’s parent company, Standard International, said on Monday. “We are very hopeful to bring the hotel back to life as the Standard” with whoever buys the building.
Rittersbacher Sunset LLC has owned the land under the hotel at 8300 Sunset Boulevard since 1989, records show. The LLC is linked to Randy Garitty of Oregon.
A great opportunity for a show of benevolence by the owner, whoever they may be, convert the Standard into housing for the appropriate folks and have your accountant or wealth manager work it out. It can be done, this is a relatively simple deal.
It’s owned by a REIT. welcome to the real world.
This is the funniest comment I’ve ever read in wehoville. 🤣
So glad you’re amused. Welcome to the world of social responsibility, I’m accustomed to that type of behavior.
My point is that, no one in this capitalist society is that philanthropic. I admire you hope though.
I can assure you that there are such people and they keep a very low profile. The message is when folks recognize skill, service and honor, and see a particular need or problem they can solve, they do it without and quest for recognition. They are simply satisfied with making a visible difference. Simple.
why don’t you give up your home first and lead by example?
and that is just bitter and mean Doug.
Thank you, I have. No need to announce it but plenty of people knew about it by happenstance or by assisting. I was referring to things on a larger scale such as The Standard. Could start a real trend.
I agree there are many out there- but to think the prime would go for a housing project is one of those roll-you-eyes moments…Maybe in THE BELLS OF ST. MARY’S when the old dude gives the Nuns his brand new factory! BUT- in the hopeful spirit IT IS HOLLYWOOD.
or the homeless could just move to a place where they can afford to live. Tulsa is quite cheap.
So’s Texas, Alabammy, Jawjaw, Tennessee, Miserysippi…all those southern s-holes. Put “em all on Greyhound…let the tRumpling church nuts “help” them with their meth problems!
No need to be unkind. Unfortunately you or any one of us could be three steps away from that given an extreme freak convergence of events.
Developers are business entitled, usually corporations. Not people. A business is created for and specifically needed to build and make a profit, just like all businesses in our open free economy. Rich people who want to give to charity can choose to do it or not. Businesses have no soul by definition. The profits is what has motivated and caused our country to be the wealthiest in the world. ONLY ISSUE: BUSINESS, ESPECIALLY DEVELOPERS CAN MAKE AS MUCH PROFIT AS POSSIBLE….. FOLLOWING COUNTLESS LAWS, REGULATIONS, RULES ETC… IN WEHO, OUR OVERDEVELOPMENT CRISIS IS DUE TO THE CITY COUNCIL AND ELECTED… Read more »
Fortunately have come from a community back east of extremely successful and recognizable leaders. These individuals became exponentially successful largely as a result of the balance of their ethical, civic responsibility and humanity of their actions. Our culture has swerved from this balance largely through seeking success while sacrificing humanity.