Report: Larry Flynt to sell Beverly Hills HQs for $82 million

flynt3.jpg Buyer is Santa Monica-based Douglas Emmett Inc., reports the Business Journal - one of the larger L.A. office deals over the past year. Flynt bought the Wilshire Boulevard property almost 20 years ago for $18.8 million, so we're talking about a nice return. Larry Flynt Publications, which owns Hustler and other titles, will lease out space in the building, which was built in 1972 for Great Western Savings. The deal is expected to close by summer. "I can take this and put it toward buying another casino or another operation that would fit with my broadcasting entities," Flynt tells THR. By the way, Hustler magazine is a shell of its former self, with a circulation of about 150,000 from a peak of 3 million (he says it brings in $3 million a year).


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Real estate stories:
Socal housing market going nowhere fast
Stability returns to housing market
Home flipping by and for the favored few
LA to get denser and denser and denser
Home sales cooling off a bit

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook