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Roosevelt Hotel Finally Finds Windows, Asking Price Explodes

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[Photography by Chris and Michelle Gerard]

Look at the Roosevelt Hotel's windows! It's unclear exactly when the installation took place, but it's nice to see the Roosevelt looking so hopeful after two years of total exposure to the elements. Is owner Dennis Kefallinos really following through on last summer's plan to convert the Roosevelt into a 76-room extended stay hotel?

Consider this: Kefallinos paid $37,500 for the Roosevelt in the 2010 tax auction, then put it on the market almost immediately afterwards for $295K. Since then, we've watched the asking price grow as the half-hearted renovation dragged onwards. It jumped to $495K during the gutting era, then up to $895K when interior work and early window replacement began. What's an entire building's worth of windows worth to Dennis Kefallinos? Earlier in March, the Roosevelt (a "hospitality investment") was re-listed for $3,681,360. Any takers?
· Listing: 2250 14th Street [CPIX]

Roosevelt Hotel

130 Roosevelt Way, , LA 70112 Visit Website