Broker Kitty Wallace of Sperry Van Ness tells GlobeSt.com that Fourth Street Venture LP bought the 19-unit property from WFS Crescent Heights Co. LLC, in what Wallace says is only the second time the building has sold since it was built in 1929.
Wallace, who represented the buyer and the seller, says the building was designed by Leland Bryant, a prominent and influential architect of the time. Bryant specialized in luxury apartments and was known for creating a number of art deco buildings in Los Angeles during the 1920s and 1930s, including some of the area's most elegant apartment buildings. The Savoy Plaza, which is within walking distance of the Sunset Strip, includes three singles, five three-bedroom apartments and the rest one-bedroom units. It includes a secured garage behind the property.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
