The Abbey Food & Bar and its sister location the Chapel at The Abbey in West Hollywood, California, reportedly sold for $27 million.
Tech and hotel entrepreneur Tristan Schukraft agreed to buy the nightclub last November from investment banker David Cooley after being on the market for about four months, but it hadn’t been publicly revealed how much until now.
According to a report from Commercial Observer on Wednesday, the 14,200-square-foot properties located on North Robertson Blvd. were sold for $27 million.
The listing for both spaces was reportedly described as “a generational purchase opportunity to acquire one of the world’s most iconic nightclubs and restaurants, The Abbey and The Chapel at the Abbey, including its tangible and intangible assets with all branding and branding rights to the businesses, and trophy West Hollywood real estate.”
Schukraft has planned to keep the restaurant and nightclub open. He shared in a statement in November, “I’m excited to build on the legacy that David Cooley created over the last 33 years at The Abbey. David built a small coffee shop on an unknown side street into one of the most famous gay bars in the country, if not the world.”
He continued, “This is both an honor and a significant responsibility. I plan to respect and honor The Abbey’s hosting while bringing new ideas that reflect our evolving LGBTQ+ community and my personal approach to hospitality. We’re not just maintaining a legacy business and an international landmark; we’re adding to the future of LGBTQ+ nightlife.”
Real Estate brokers Matthew Luchs and Brandon Micheals of Marcus & Millichap reportedly handled the transaction.
