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360 North Rodeo Drive

Updated Oct 28, 2024

Luxe Hotels Sells Hotel On Rodeo Drive For $200M
SOLDHotel

Luxe Hotels Sells Hotel On Rodeo Drive For $200M

360 North Rodeo Drive

$200,000,000

$4,761/SF

Building Size

42,000 SF

Asset Type

Hotel

Closing

Dec 15, 2021

About this deal

AI

360 North Rodeo Drive, located in the prestigious Rodeo Drive market, has recently changed ownership. Luxe Hotels, represented by Aaron Harkham, sold the property for a staggering $200,000,000 on December 15, 2021. The buyer's representative in this transaction was Jay Luchs. Houman Mahboubi and Mark Schillinger of JLL served as the seller's representatives.

Summary of transaction details:

  • Property Type: Hotel
  • Sale Price: $200,000,000
  • Address: 360 North Rodeo Drive
  • Market: Rodeo Drive

The property spans an impressive 42,000 square feet and consists of 88 keys. The price per key (PPK) for this transaction amounts to $2,272,727. Moreover, the property's price per square foot (PPSF) is $4761. The sale of 360 North Rodeo Drive presents a significant investment opportunity in the heart of the Rodeo Drive market.

It is worth noting that the property is a double lot situated on the 300 block of Rodeo Drive. Currently, the property is occupied by various tenants, including renowned brands such as Rolex, Patek Philippe, and Ferrari. Additionally, this property was formerly a boutique hotel, making it a unique asset with immense potential.

On the Map

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$200,000,000

$4,761/SF

Hotel

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Players

Jay Luchs

Newmark

Broker

$2.1B

vol

47 deals

Broker
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Beverly Hills Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Deal FAQ

About $4.8K per square foot on a published $200M for 42,000 square feet (2021).

Visit Houman Mahboubi to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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