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[IMGCAP(1)]HOLLYWOOD-A Beverly Hills-based development firm called LB/L-DS Ventures Metropolitan II has opened the doors to its new Metropolitan Hollywood apartments on Sunset Boulevard, a project that transforms a former hotel into 52 luxury residential units that include a mix of studios and one-bedroom lofts and apartments. LB/L-DS has built out the 11-story building at Sunset and Van Ness with four to five units per floor, with units ranging from 530 sf to 1,037b sf.

Rents start at $1,564 and go up to $6,222 at the property, which offers views of city lights, the Hollywood Hill and the Pacific Ocean, according to the developer. The site is directly across the street from L.A.’s iconic KTLA Channel 5 headquarters.

The Metropolitan was built in the early 80s as a flashy hotel that courted a clientele ranging from musicians on tour to international travelers. According to a GlobeSt.com report in 2006, the developers paid $20 million for the property, which was seen as one of a host of projects in a Hollywood recovery that in recent years has generated hundreds of millions of dollars worth of new developments, including new and refurbished hotels, retail and multifamily projects.

[IMGCAP(2)]The Metropolitan’s owners have retained many of the luxury hotel amenities: a private entrance, a glass elevator overlooking Sunset Boulevard, a gym with steam showers and a high-end club room for entertaining. Otherwise, the developers say, the hotel is remodeled from top to bottom and featurees new amenities including both men’s and women’s locker rooms, a club room with flat screen TV and NFL Sunday Ticket, an evening concierge, parking for every unit with option to purchase permanent guest parking, a pet friendly policy and a number of other offerings. In-unit amenities include a list of luxury finishes, features and appliances.

The developers of Metropolitan Hollywood say that they plan to enhance the property over the next several years. They also have plans for a sister property that will feature a pool, a full-service spa and a rooftop patio.

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