Related’s Argyle House in Hollywood for Sale
The prominent developer and owner of the luxury apartment building in Los Angeles known as Argyle House is looking to let go of the 18-story property, Commercial Observer has learned.
Developed by Related California, a West Coast subsidiary of Related Companies, Argyle House features 114 high-end units in the heart of historic Hollywood, next to the Capitol Records tower and around the corner from the Pantages Theatre, the W Hollywood and a Metro Red Line station.
Marketing materials shared with CO show the property is offered on an all-cash basis, or with financing in place of $80 million at 3.65 percent interest. An asking price was not included, and Related did not return requests for comment.
The firm spent $90 million to build Argyle House, according to reports when the property opened in 2018.
The building at 1755 Argyle Street includes a mix of studio, one-, two- and three-bedroom units. Online listings currently show monthly rents ranging between $2,895 for a studio and $9,495 for two-bedroom units.
Designed by LARGE Architecture, the building also features an outdoor pool and spa, a barbecue area and a fitness center. The building is home to tenants including movie producers, celebrities, CEOs, professional athletes, and software engineers, according to Related. Millennium Partners is also building a $1 billion residential and retail complex on parking lots by Capitol Records and Argyle House.
Cushman & Wakefield (CWK) is marketing the property for sale.
Gregory Cornfield can be reached at firstname.lastname@example.org.