An eight-story office tower in the heart of Hollywood is being sold for $105 million, officials said Wednesday.
The 115,589-square-foot building at 1601 Vine St., between Hollywood and Sunset boulevards, is anchored by Skims Body Inc. and is 100% leased, according to the real estate firm Newmark Group Inc., which handled the sale.
Kingsbarn Realty Capital bought the building from Snyder Vine LLC.
Built in 2017 by JH Snyder Company, the property was extensively renovated in 2024 and features high-volume ceilings, a limestone lobby with terrazzo flooring, floor-to-ceiling windows offering panoramic views of Hollywood, and on-site photography studios.
“Capital is showing renewed conviction in high-quality, 2025-vintage office investments,” said Kevin Shannon, co-head of U.S. Capital Markets for Newmark. “Top-tier tenants like Skims are prioritizing best-in-class buildings, and contrarian investors are capitalizing on the opportunity to acquire premier office product below replacement cost with historically attractive cap rates.”
Newmark Vice Chairwoman Laura Stumm said Skims’ “long-term commitment to 1601 Vine reflects a broader return-to-office trend. For Skims, in-person collaboration is essential — especially in a tactile, design-led industry like apparel. Their 15-year lease signals a strong belief in the long-term value of a physical workspace to foster creativity, culture and innovation.”