Commercial Exchange Building
| Commercial Exchange Building | |
|---|---|
Walker and Eisen |
The Freehand Los Angeles Hotel, formerly the Commercial Exchange Building, is a historic structure in
Location
The building is located on the corner of
History
The 13-story building was completed in 1924. It was designed by the architecture firm of
To allow the widening of Olive Street in the mid-1930s, a "10-foot slice" was removed from the center of the Commercial Exchange Building and engineers rejoined the remaining halves by sliding the western portion eastward.[2] Total cost of the removal and realignment was $60,000, the Los Angeles Times reported in 1935.[2]
In early 2013 the building, which had been vacant for two decades, was put on the market for $14 million.[2] A year later, in 2014, it was acquired by the Sydell Group, with financial backing from AllianceBernstein and Yucaipa Companies, an investment firm owned by billionaire Ronald Burkle.[1] The owners remodeled it into the Freehand Los Angeles Hotel,[1] which opened in June 2017.[3] The building was listed on the National Register of Historic Places in 2019.[citation needed]
References
- ^ a b c Vincent, Roger (July 17, 2014). "Downtown L.A. office building to be converted to hip hotel". The Los Angeles Times. Retrieved October 10, 2015.
- ^ a b c d e Vincent, Roger. (January 13, 2013) Downtown historic high-rise eyed by hotel developers Los Angeles Times
- ^ https://la.curbed.com/2017/6/27/15877284/freehand-hotel-downtown-la-sydell
