LOS ANGELES, CA – January 12, 2015 – (RealEstateRama) — Tom Nguyen with the Orange County office represented the buyer, DCGG Park Plaza, LLC (also known as the owners of the Hollywood Roosevelt Hotel) in a joint venture agreement with the current owners, Wilshire Park Plaza LLC, to redevelop the Legendary Park Plaza Hotel located at 607 S. Park View Street, Los Angeles, CA.
Tom Nguyen notes, “I am proud to have been involved in this transaction. Similar to the Hollywood Roosevelt Hotel, the Park Plaza Hotel has a rich history and spectacular interior architecture that are unique to historic landmark buildings. I am excited to see what the owner of the Hollywood Roosevelt, who has turned their hotel into a Hollywood icon and hotspot, has in store for the Legendary Park Plaza Hotel.”
The Park Plaza, built in 1925, was designed in the Neo-Gothic style by renowned art deco architect Claud Beelman. The building was originally designed to house the Elks Lodge #99 and still has a brass sculpture of elk antlers embedded in the clock above the grand entry to the building today. In fact, as part of the property’s illustrious history, the indoor pool was used to host the swimming events for the 1932 Summer Olympic Games. However, due to low memberships, the property was later sold and was transformed into luxury hotel. In the early 1980’s the Los Angeles Cultural Affairs Department proclaimed the design and architecture as significantly important to declare it as a Historic-Cultural Monument No. 267. Currently, the building is vacant and is mainly used for movie shoots and special events.
Please contact Tom Nguyen, Executive Vice President, for more information at (949) 854-6600 and .
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