WEST HOLLYWOOD—West Hollywood’s iconic hotel, Sunset Tower is now up for sale. The 1929 landmark renovated by owner Jeff Klein is has been priced for approximately $100 million, averaging about $1 million per room.
Klein and Thai investor, Thosapong Jaruthavee (Mr. T) are responsible for the hotel shares. In 2015, Jaruthavee replaced previous investor, Peter Krulewitch after he purchased 80 percent of the shares for the then $75 million hotel. While Jaruthavee is the majority owner of the hotel, Klein has the opportunity to sell up his 20 percent in shares. Brokers, Jones Lang LaSalle (JLL) are responsible for the hotel’s sale negotiations.
In 1929, Sunset Tower was built by architect Leland A. Bryant and is located at 8358 Sunset Boulevard, minutes from Beverly Hills, where the establishment is a popular celebrity hotspot. Hotel amenities include, the Tower Bar restaurant, a pool, fitness center, and a salon/spa. Located on the Sunset Strip, the hotel is surrounded by live music, art, restaurants and shopping.