The historical Standard Hotel property located at 8300 Sunset Boulevard since 1989, is up for sale. Real estate news outlet, The Real Deal reports Rittersbacher Sunset LLC has owned the land under the hotel at 8300 Sunset Boulevard since 1999. The LLC is linked to Randy Garitty of Oregon.
“The property is up for sale by the owner of the underlying real estate,”, a spokesperson from the hotel operator’s parent company, Standard International, said on Monday. “We are very hopeful to bring the hotel back to life as the Standard with whoever buys the building.”
After over two decades, The Standard Hollywood Hotel gave a fond farewell announcing its closure in late January of this year.
“It is with a heavy heart that we must announce the closure of The Standard Hollywood, which will shut its doors indefinitely on Friday, January 22nd,” read a statement on the hotel’s website and Instagram account. “Despite 22 years of unconditional love for our hotel, our guests, our team and our community, the hotel was unable to prevent a significant increase to its lease, which makes operating the property impossible.”
The quirky Standard Hollywood Hotel, opened on West Hollywood’s Sunset Strip in 1999. It was developed by Andre Balazs Properties. The structure was originally built in 1962 as the Thunderbird Motel. A lot of West Hollywood residents may remember when it was retirement home before Balazs purchased and remodeled it.
The hotel, famous for the upside down sign, offered a restaurant, bar, spa and it was home to several LGBT events and pool parties overlooking the city. It was also no stranger to celebrity guests, making a hotel destination during the various awards seasons in Hollywood.
The hotel was also known for random and bizarre art. It was the kind of place where you’d find an attractive person laying in a glass box behind the registration desk, doing absolutely nothing, but looking beautiful. It was so West Hollywood.
The historical Standard Hotel closed during the Los Angeles County Stay at Home Order to slow the spread of COVID-19. It would never open again on the Sunset Strip.
The Real Deal reports that Hotel sales in Los Angeles have skyrocketed since the start of the pandemic. Across the county, 48 hotels changed hands in the first half of 2021. The 580-key Hyatt Regency at LAX and the 175-key Le Merigot hotel in Santa Monica both changed hands for $75 million — the most expensive hotel sales in Los Angeles this year.