Sunset Strip’s Viper Room, neighboring properties sell for $80M

Fifth Gear unloaded the 4 commercial properties, which occupy 38K sf of land

Los Angeles /
Jul.July 23, 2018 09:00 AM
The Viper Room at 8852 Sunset Boulevard (Credit: Wikimedia Commons)

Four Sunset Strip commercial properties, including the infamous Viper Room club, have sold for $80 million.

The sale includes two storefront properties next to the Viper Room, between North San Vicente Boulevard and Larrabee Street in West Hollywood, according to the Los Angeles Business Journal. Also included in the acquisition is a parking lot next to the club. The addresses are 8850-8878 Sunset Boulevard and 1029 Larrabee Street.

The buyer was listed as 8850 Sunset LL, according to records. A representative, Jim Cooper of REM Finance Inc., told the journal there is “not a development plan in place,” but that the buyer was “looking to see what the highest and best use could be.”

The seller was identified as Fifth Gear.

The properties, which sit on 38,000 square feet of land, were not listed on the open market.

One block to the West, a joint venture of London & Regional Properties and VE Equities plan to demolish a Hustler-brand adult store to construct a modern nine-story building. It will serve as the only U.S. branch of Arts Club, a private club for creative types. The West Hollywood Planning Commission approved the project in June after three years in the making.

Formerly a jazz club, the Viper Room opened in 1993. Rising Hollywood actor River Phoenix died of a drug overdose there later that year. At the time it was once partially owned by actor Johnny Depp, who sold his stake in 2004. [LABJ] — Dennis Lynch 


Related Articles

arrow_forward_ios
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
LA County assessor Jeffrey Prang

LA County properties valued at nearly $2 trillion…before pandemic

LA County properties valued at nearly $2 trillion…before pandemic
Frederik Eklund and a rendering of 8899 Beverly Boulevard (Getty, building courtesy of 8899 Beverly)

In tough market, West Hollywood condo developer plans $100M listing

In tough market, West Hollywood condo developer plans $100M listing
Clare Bronfman and 8517 Franklin Avenue (Patrick McMullan/Getty, Zillow)

Heiress and sex cult financier sues over West Hollywood swimming pool

Heiress and sex cult financier sues over West Hollywood swimming pool
Mayor Lindsey Horvath

West Hollywood extends eviction ban, with caveats

West Hollywood extends eviction ban, with caveats
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...