One of the Most Iconic Downtown LA Buildings Is Ready for a Change!
If you’re familiar with the Barclay Hotel, located in the booming downtown area and one of the oldest running hotels in Los Angeles, you’d be surprised to know that it’s now for sale. According to some brokers, chances are, the sale price of this hotel could go as high as $40M.
This 103 W Fourth St. space focuses on low-income residents, but there’s speculation that the buyer would have the privilege of transforming the building into a popular boutique hotel.
However, potential buyers have other factors they should take into consideration. For one, this hotel is a Historic Cultural Monument, which restricts owners from making certain renovations. Aside from that, the building’s tenants would be required to move to a new single-resident occupancy if the space gets bought out.
The Barclay Hotel was originally known as the “Van Nuys Hotel” until 1987. It was one of the first establishments in the city to offer electricity and telephones in each room. Through the years, this hotel has also been part of some of the most iconic films, such as Armageddon, Inception, and As Good As It Gets.