Two years ago, Dmh Investment Group paid about $6 million for a property along South Mariposa Avenue, a few blocks from the Equitable Life Building in Koreatown, amid the neighborhood’s building boom.
Construction accelerated in surrounding Koreatown but Dmh just waited.
Then earlier this month, the Los Angeles-based firm paid $1.6 million for the neighboring property, and quickly filed an application with the city to build an 80-key hotel with eight additional residential units, Urbanize reported. There will be 7,100 square feet of commercial space.
The name listed on the application is David Haddadi, and the proposal seeks a permit to sell alcohol at two planned restaurants. Efforts to reach him were unsuccessful, and there was no information on what hotel would open up.
The two properties are at 810 and 812 South Mariposa avenues, toward the southeast corner of Koreatown. The proposed development would replace a parking lot and an apartment building. It is a block away from East West Hotel and about half a mile from the popular LINE Hotel. [Urbanize] –Hannah Madans