|Ever wonder what this building is, with it's shiny silver numbers, 999, just at the corner of Sunset Blvd. and Doheny in West Hollywood? Now it's a sister building to the penthouse suites of Soho House West Hollywood at 9200 Sunset. Actually, since the entry-level pricing at this 1963 landmark are so remarkable right now, Unit #511, a 647 square foot studio with patio and views, is on sale for $350,000, you can likely also afford a Soho House membership...and invite new friends you meet to the pool at 999 Doheny, since Soho house is lacking in water sports.|
Unit #511, which sold for $489,000 in 2007 is in effect a "short sale" - meaning that the owner owes more than they can sell it for and the bank that issued the loans has to incur the loss, not the seller. This act of forgiveness has become commonplace in real estate around the southland of late due to job loss and adjustable rate mortgages. Is it fair that people can walk away without it being on their permanent records? Who is to say. The new buyer wins out by being able to purchase a property for less than what is owed on it, but usually at fair market value. To have your own piece of the pie though, just steps from the Sunset Strip and Beverly Hills, seems highly doable at $350,000, even if you are just going to use the place as a crash pad. An in-town landing lair when you're not flying high with Richard Branson.
Virgin America take note: have the "Fly Girls" live in West Hollywood next season - Marina del Rey is too boring! Even if it is close to LAX.
Take a look at Brad Elterman's photos of Steve Jones (Sex Pistols) at 999 Doheny back in the day...a little Hollywood nostaglia: http://www.bradelterman.com/gallery_40.php
Oh, and if you are still not ready to buy, you can lease for a while at the building - rentals range from $2,000/month to $3,850.