Sale of 85 Year Old Building in Beverly Hills a Look into its Past (and Pricing!)

An 85 year old Beverly Hills building built by Jack Warner (yes, Warner Bros. Jack Warner) in 1928 has sold for $12 million. People often ask what the real estate costs in Beverly Hills, and here’s a picture — this is commercial property and just off Rodeo drive by a couple blocks, and it still fetched over $1,000 per square foot.

Warner built the property for a fledgling city that didn’t yet have a City Hall or a Post Office. This building was for the Chamber of Commerce.

Read more from the LA Times here:
http://www.latimes.com/business/money/la-fi-mo-beverly-hills-building-sold-20130220,0,1487770.story