STUDIO 77
North Hollywood, CaliforniaNamed for a combination of its street address and its highly sought-after location near North Hollywood’s big entertainment studios, Studio 77 was a lesson in patience—and well worth the wait. In 2008, we bought a one-acre lot with a 1944 five-story building and parking garage. By 2016, it was a LEED Certified success story, featuring luxury apartments, vast ground-floor retail, and urban amenities.
In the heart of the NoHo Arts District—a hotbed for actors and actresses—Studio 77 taps into the energy of live theatre, art galleries, coffee shops, restaurants and eclectic shopping. It’s a walkable four blocks from the Metro Redline subway station, with excellent freeway access to the 134, 170, and 101 freeways.
Getting Studio 77 built was no small feat. We navigated numerous challenges—assembling two parcels, encouraging a long-term tenant to move out, overcoming historical designation claims, and holding onto the asset through the Great Recession.
In 2015, we built a new building befitting its artistic location, with 100% of retail and residential space leased and occupied. Rising rents reflected the unique design and quality of construction. A year later, we sold Studio 77 for $72 million ($462,000 a unit)—at a considerable profit for our firm and financial partner.
LOCATION
North Hollywood, CA
CLASSIFICATION
Mixed use
PROJECT SIZE
156 units, 12,000 SF retail, 4 stories
YEAR OF COMPLETION
2016
ARCHITECTURE
Contemporary arts
ARCHITECT
Alan Boivin, AIA
KEY AMENITIES
Gated parking
Swimming pool and Jacuzzi spa
Courtyard BBQs
State-of-the-art fitness center
Business center with conference room
Yoga studio
Resident lounge
