Simon Baron Lists Mysterious Cecil Hotel in LA for Sale

The Cecil Hotel, notorious for its mysterious deaths and the subject of a Netflix true crime documentary, is now on the market. New York firm Simon Baron Development is selling the ground lease for the 15-story building located in Downtown Los Angeles.

A Rich History

Originally built as a luxury hotel in the 1920s, the property underwent a transformation into homeless housing in 2019, backed by $45 million in financing from the L.A. City Council. Rebranded as the Hotel Cecil Apartments, the site boasts a 601-unit housing complex.

Property Details

With 91 years remaining on the ground lease, the property is owned by 248 Haynes Hotel Associates, linked to New York hotelier Richard Born. Occupancy stands at 60 percent, projected to rise to 80 to 90 percent by mid-year. The asking price remains undisclosed.

Financial Prospects

The listing highlights potential profits, citing the property's eligibility for a state program reducing its taxable value. It emphasizes stability through government subsidies and low turnover rates in affordable housing investments.

Dark Legacy

The Cecil Hotel's grim history includes at least 16 recorded deaths on its premises, attracting both real and fictionalized accounts of horror. Notable incidents include the mysterious death of Elisa Lam, featured in the Netflix documentary "Crime Scene: Vanishing at the Cecil Hotel." The hotel also housed infamous serial killers Jack Unterwerger and Richard Ramirez, further adding to its eerie reputation.

Cultural Impact

The hotel's notoriety influenced various media, including the television series "American Horror Story," with its fifth season drawing inspiration from the Cecil Hotel and Elisa Lam's disappearance.