—M West Holding has purchased 1617 Cosmo St. in Los Angeles. The 48-unit, loft-style apartment building, named Cosmo Lofts, contains 12 duplexes and 36 lofts. The sale price was undisclosed.
"Constructed in the 1920s, this four-story concrete building initially served as a furniture warehouse,” said Karl Slovin, president of M West Holdings, in a statement. “Recent renovations have transformed the structure into ultra modern live/work lofts that celebrate the building's past while embracing the creative mindset of LA's film and entertainment industries right in the heart of Hollywood. We are excited to become a part of this innovative community."
Beyond its Hollywood location, the property includes a variety of amenities including fluted columns, high ceilings, large windows, and spiral steel staircases. Additionally, the building incudes a 6,000 sq. ft. rooftop deck.
"This deck is second in size only to the W Hotel's roof deck and after renovations, it will provide an excellent opportunity to lease the space for various Hollywood-inspired events,” said Matthew Ellis, senior vice president for M West Holdings. “M West has hired MAKEto refresh the building's lobby and roof deck."
The planned upgrades will include new kitchens and bathrooms, giving the units a boutique feel.