Luxe Hotels Sells Hotel On Rodeo Drive For $200M

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.