Business & Tech
Hollywood Palladium Sold to Real Estate Developer
Crescent Heights will buy the property for $55 million.
The Hollywood Palladium has a buyer who is about to pay $55 million for the historic venue, reports Curbed L.A.
The buyer, Miami-based developer Crescent Heights, has residential and real estate property in South Beach, New York and Century City.
The venue will most likely continue to host shows in the near future as LiveNation has a lease until 2027.
Find out what's happening in Hollywoodfor free with the latest updates from Patch.
In June, the iconic venue was being marketed as a development opportunity with the potential for a hotel that could be built on a 90,000-square-foot parking lot, according to The Hollywood Reporter.
Find out what's happening in Hollywoodfor free with the latest updates from Patch.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.