Investment banker David Cooley is looking to sell famed LGBTQ magnet The Abbey, and its sister location The Chapel, in Los Angeles.
The restaurant and nightclub are the mothership of the strip of popular gay bars and clubs along Santa Monica Boulevard at 686 and 692 North Robertson Boulevard in West Hollywood. WeHo Times first reported the offer.
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City National Bank provided $9.9 million for the properties in 2022, property records show.
Brandon Michaels and Matthew Luchs of Marcus & Millichap (MMI), as well as Jay Luchs of Newmark (NMRK), have the listing for The Abbey and The Chapel, which does not include an asking price. The deal includes operating businesses of The Abbey, The Chapel — which span over 14,200 square feet — and their brand and trademarks. The listing describes the offer as “a generational purchase opportunity to acquire one of the world’s most iconic nightclubs and restaurants.”
The news follows shortly after Lisa Vanderpump closed her popular restaurant PUMP about 50 feet away from The Abbey.
Cooley opened The Abbey as a coffee shop in 1991 before moving across the street a year later and reopening as a restaurant, bar and nightclub. The club gained notoriety and attention from countless celebrities over the decades, and became an anchor for the popular bar and restaurant district.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
