The Abbey Meals & Bar and its sister location the Chapel at The Abbey in West Hollywood, California, reportedly bought for $27 million.
Tech and resort entrepreneur Tristan Schukraft agreed to purchase the nightclub final November from funding banker David Cooley after being available on the market for about 4 months, but it surely hadn’t been publicly revealed how a lot till now.
In keeping with a report from Industrial Observer on Wednesday, the 14,200-square-foot properties situated on North Robertson Blvd. have been bought for $27 million.
The itemizing for each areas was reportedly described as “a generational buy alternative to amass one of many world’s most iconic nightclubs and eating places, The Abbey and The Chapel on the Abbey, together with its tangible and intangible belongings with all branding and branding rights to the companies, and trophy West Hollywood actual property.”
Schukraft has deliberate to maintain the restaurant and nightclub open. He shared in an announcement in November, “I’m excited to construct on the legacy that David Cooley created over the past 33 years at The Abbey. David constructed a small espresso store on an unknown aspect avenue into one of the crucial well-known homosexual bars within the nation, if not the world.”
He continued, “That is each an honor and a major duty. I plan to respect and honor The Abbey’s internet hosting whereas bringing new concepts that replicate our evolving LGBTQ+ group and my private strategy to hospitality. We’re not simply sustaining a legacy enterprise and a global landmark; we’re including to the way forward for LGBTQ+ nightlife.”
Actual Property brokers Matthew Luchs and Brandon Micheals of Marcus & Millichap reportedly dealt with the transaction.