El Royale Apartment Tower in Hancock Park Sells for Nearly $30 Million

Image: housesofhancockpark.blogspot.com

Known for being a celebrity magnet, the El Royale apartment tower in Hancock Park has been sold for almost $30 million in what may be the largest price-per-unit sale in Los Angeles.

Located at 450 N. Rossmore Ave., the 12-story El Royale apartment tower was built in 1929 and was home to early residents such as Clark Gable, William Faulkner and Loretta Young. The El Royale apartment tower was designed by the same architect who created the famous Chateau Marmont hotel in West Hollywood.

Kamran Hakim, one of the largest private landlords in New York, and Farhad Eshaghpour, a Santa Monica real estate attorney, recently purchased the tower for $29.5 million, which amounts to $526,786 per unit. The sells, a Los Angeles family trust, had controlled the building for more than 50 years and the new owners reportedly plan to own the building for a while and improve and preserve the building’s tradition of excellence.

With original features that include marble and hardwood floors, mahogany woodwork, tiles and iron chandeliers, El Royale has 56 units, some with five bedrooms.

Recent residents of El Royale include Jack Black, Katie Holmes, Josh Brolin and Ellen Page.