THE ABBEY
686 N. Robertson Blvd., West Hollywood
Deal Value: $45 million
The sale of The Abbey Food & Bar and its sister location, The Chapel at The Abbey in West Hollywood, represents a landmark transaction in the LGBTQ+ nightlife and hospitality sector. The 9,540 square foot property located at 686 N Robertson Boulevard in West Hollywood was acquired for $27 million by tech and hotel entrepreneur Tristan Schukraft, representing a price per square foot of $2,830. The transaction encompasses not only the physical real estate, but also the branding and intangible assets of one of the world’s most iconic LGBTQ+ establishments. The operating business, trademarks and unparalleled legacy was also sold for an undisclosed amount. The transaction of both the underlying real estate and operating business was handled by Marcus & Millichap broker Brandon Michaels. Schukraft, a longtime patron of The Abbey, has committed to preserving its legacy while introducing new ideas re°ective of the evolving LGBTQ+ community. This generational purchase demonstrates the signiÿcant ÿnancial value and cultural importance of The Abbey, which has been a cornerstone of West Hollywood’s LGBTQ+ scene for over three decades. Challenges included balancing the preservation of an international landmark with future development plans and achieving a transaction re°ective of its cultural and historical value.
