Entertainment
Hollywood Icon Yamashiro Up for Sale for $100 Million
Yamashiro, the iconic neo-Japanese-style restaurant in the Hollywood Hills, has been listed for sale for $100 million. The 7.5-acre estate is just north of the famed Magic Castle and within walking distance of the TCL Chinese Theatre, which is owned by film producers and entrepreneurs Elie Samaha and Steven Markoff.
Yamashiro, according to The Real Dealbelongs to Samaka, a limited liability company “linked to” Markoff and Samaha.
“This property is probably aimed at people who are not necessarily slaves to interest rates,” broker Peter Sherman said BloombergHe noted that the prime hillside property with city views could be transformed into a boutique resort, think tank or personal estate.
Yamashiro, a tourist magnet known for its ornate scenery, has long been a favorite among film location scouts, appearing in projects like Memoirs of a Geisha And Kill Bill: Volume 1Its history, which dates back more than a century, includes the reception of the Club of the Four Hundred For a time in the 1920s, the San Vicente Bungalows was an invitation-only Hollywood gathering place attended by the likes of Louis B. Mayer, Sam Goldwyn, Rudolph Valentino, Gloria Swanson, Charlie Chaplin, Roscoe “Fatty” Arbuckle and Pola Negri. The property has fallen out of fashion several times since then, and was once used as a boys' school.
It houses a 600-year-old pagoda imported from Japan and has changed ownership and management several times in recent decades. In 2010, renowned hotel impresario Sean MacPherson (owner of nightlife spots like Bar Lubitsch and the Roger Room in Los Angeles and hotels including the Maritime and the Ludlow in New York) lost a long legal battle about its own $55 million deal to buy the site.
Beginning of July, The Hollywood Reporter Seller Samaha, which has a storied history in the local movie and hospitality industries, is also in talks to acquire the Dolby Theatre as part of an investment consortium. The venue, which hosts the Oscars, could sell for $70 million.
A Samaha spokesperson, in an email to The Hollywood Reportersaid the producer is not a majority shareholder in Yamashiro, writing that “Mr. Samaha is not selling the Yamashiro site. Mr. Samaha is only a minority member of a consortium in negotiations to acquire and resell the Yamashiro property, but he is also not the manager of the consortium and does not hold a majority interest in the consortium.”
Update: With comment from Samaha spokesperson and information about Samaka Limited Liability Company.
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