Investors purchase Hancock Park landmark El Royale for almost $30 million
EL ROYALE is in new hands after 50 years.
It was eight years ago that Farad Eshaghpour first stepped inside the El Royale. Today he owns it. The Santa Monica-based real estate attorney and his partner, Kamran Hakin, a New York City landlord, paid close to $30 million to the estate of Martha Scott for the 12-story landmark building.
El Royale, 450 N. Rossmore Ave., was built in 1929. Its original features include marble and hardwood floors, mahogany woodwork, tiles and iron chandeliers, El Royale has 56 units, from one to five bedrooms. Farad said he is pleased to be involved with such an historic landmark as the El Royale. Minor cosmetic upgrades are in the works on the lobby, gym and gardens.
It was designed by William Douglas Lee, the same architect who created the Chateau Marmont hotel in West Hollywood. His designs included such elements as arches, columns, balustrades, shields and eagles.
The lobby features a ceiling with elaborately stenciled art, mahogany paneling and inlaid marble floors.
Early promotional material described the building as “a monument in stone to a new standard of beauty and form, blending the most distinguishing characteristics of the modern Spanish architecture of today.” Celebrity residents have ranged from Eddie Cantor, Peggy Lee Loretta Young to Nicholas Cage and Katie Holmes.
Category: Real Estate
