The Hesby Sells for $126 Million
The Hesby, a 308-unit luxury apartment community in North Hollywood, recently sold for $126 million. Chicago developer Equity Residential acquired the property from Alliance and Prudential Insurance which developed the building last year for around $50 million. The sell is the largest multifamily deal in nearly two years in the greater Los Angeles area.
The Hesby is located in the NoHo Arts district and features top-notch amenities, including two outdoor courtyards with pools, an elevated hot tub, an outdoor barbecue and fireplace, vinyl couches and a movie projector complete with a 90-sqaure-foot screen. Interiors come fully-equipped with stainless steel appliances, nine-foot ceilings, washers and dryers, stone countertops, USB charging stations, wood flooring and under-the-counter wine coolers.