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Colliers Negotiates $46M Sale of The Gershwin Apartments in Hollywood

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The Gershwin Apartments in Hollywood features 163 apartments, nine bungalows, 10,565 square feet of retail space and a 17,000-square-foot surface parking lot.

LOS ANGELES — Colliers International has facilitated the sale of The Gershwin Apartments, a landmark mixed-use property located at 5533 Hollywood Blvd. in Los Angeles’ Hollywood neighborhood. A local development, management and investment firm acquired the property for $46 million in an all-cash transaction.

Kitty Wallace of Colliers represented the buyer and seller, a private real estate investment company, in the deal.

Built during the 1920s and originally known as the St. Francis Hotel, the five-story building was renovated over the years and transformed into a mixed-use asset with 163 residential units, nine neighboring bungalows, a 17,000-square-foot surface parking lot and 10,565 square feet of ground-floor retail space. The apartments feature a mix of layouts from micro lofts with kitchenettes to two-bedroom bungalows with private yards. A total of 119 of the units have been completely renovated.

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