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LOS ANGELES-Developers from West Los Angeles have acquired the long-closed landmark Perinos restaurant for $4 million and plan to convert the site to apartments, according to brokers from Coldwell Banker Commercial Westmac.

Alexander Sachs and Jim Bailey of Coldwell Banker Commercial Westmac say the buyer is West Los Angeles-based Carey & Kutay Development LLC. The Coldwell Banker brokers represented the buyer, with the local family trusts who owned the restaurant at 4101 Wilshire Blvd. representing themselves.

Perinos was once known as one of the favorite dining spots of the rich and famous in Los Angeles, but it has been closed for more than 12 years. During that time, the former eatery has served as a shooting location for many feature films and television series.

Sachs and Bailey say the new owners plan to develop approximately 48 apartment units on the site, with the project to be designed by Killefer Flaming Architects of Santa Monica. They say the new owners plan to retain architectural features from the existing structure and also create a remembrance room in the new apartment development in homage to the history of the location. The developers expect to complete the project in the fourth quarter of 2005.

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