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The Real Deal Los Angeles

LeFrak plans 260-unit Hollywood mixed-use development

New York firm bought the Art Deco property for $5.85M in 2007

August 25, 2016 09:00AM
By Cathaleen Chen

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LeFrak CEO Richard LeFrak and the site at 6436 West Hollywood Boulevard

LeFrak CEO Richard LeFrak and the site at 6436 West Hollywood Boulevard

New York developer Richard LeFrak is expanding his footprint in Los Angeles with a new mixed-use project in Hollywood.

LeFrak has submitted plans for a 278,892-square-foot mixed-use complex with 260 residential units and 17,800 square feet of commercial space, according to city planning documents.

The site, at 6436 West Hollywood Boulevard, is currently occupied by a 6,000-square-foot Class C office building, according to CoStar. Built in 1931, the structure has a distinct Art Deco style. LeFrak acquired it for $5.85 million in 2007. Past tenants include Playhouse Hollywood but the property is now unoccupied.

LeFrak has filed a request for a zoning and height change. The building would vary between 42 feet to 160 feet, or between four to 15 stories.

The company has also requested a conditional use permit for alcohol sales in three establishments.

The LeFrak Organization, headed by Richard LeFrak, is one of the New York City region’’s most prominent real estate ownership and management groups. Its holdings include more than 40 million square feet of residential, commercial and retail holdings nationwide.

This project would not be LeFrak’s first venture out West: the New York/New Jersey-focused firm owns a Class A office building just down the road at 7060 Hollywood Boulevard, as well as the Wilshire Spalding office medical building, which it purchased for $55 million in 2008.

LeFrak has another L.A. project now in the pipeline — a 410-unit mixed-use complex at the corner of Hollywood Boulevard and La Brea Avenue. Dubbed Horizon Hollywood, the project is pursued in partnership with Kennedy Wilson.

LeFrak could not be immediately reached for comment.

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