Four Buildings on OFW up for Sale

The historic Gingerbread Court and the Blu House are among the two properties currently listed for sale.

Four adjacent properties on Ocean Front Walk have been listed on the market for $25 million, according to GlobeST.com, a real estate news website.

The properties include the three-story apartment building on 511 OFW, Gingerbread Court, located at 517 OFW, the Blu House, at 523 OFW and a parking lot on 601 OFW that is zoned as a retail and food establishment.  

“This is a rare opportunity to acquire over 300 feet of irreplaceable beachfront real estate with unobstructed views of the Pacific Ocean along Ocean Front Walk,” said Richard Ringer, vice-president of Marcus & Millichap who is representing the seller, in a statement. “This unique offering in the heart of Silicon Beach will attract interest from a variety of local and foreign investors and from potential owner-users in the high-tech and entertainment industries.”

The Gingerbread court bungalow complex was built in 1922 by Charlie Chaplin as his summer home. The Blu house, built in 1901, is one of the oldest houses in Venice. A minor fire in July damaged the front porch of the house.

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carolyn rios November 14, 2012 at 07:15 PM
If they are not already on the Historic Preservation List, they certainly should be. Anyone know about this. I cannot imagine OFW without these historic buildings
Sean November 14, 2012 at 08:50 PM
Brave Rich world November 15, 2012 at 03:21 AM
They need to take a bulldozer to those buildings ASAP and build some nice condos for the rich new herd of Venice residents. A nice Starbucks and big chains that serve comfort rich folk food. Get rid of the bums and their stupid liberal supporters. Tear it down and build it up, good bye freeks and geeks of venice old.
Rick Feibusch November 15, 2012 at 06:11 PM
Whatever anyone has built of Venice in their minds and hearts is about to change in a serious way – As Venice has started to clean up once again (it has come close before, but timed poorly with world events and the economy) and at a time of rising real estate values, people attempting to get into the fray as early as possible, and the new momentum that this accelerates. Our visions of the future should be shuttles, remote parking lots, and to integrate housing, business & Hotels into a fabric that resembles the European cities that Abbot Kinney envisioned over 100 years ago. Let's not continues the LA practice of living in one place, shopping in another and recreation at yet another place, driving and parking between each activity. Instead of bitching and legal obstruction, we should be working together to make the "new" Venice as people friendly and easy to navigate as foreign cities of old – It is going to change anyhow, anyway…. Help it be the best we can…….
carolyn rios November 15, 2012 at 07:32 PM
Rick, I agree with you in principle on most of the development we need to be pushing for shuttles remote lots local hiring where possible and more low cost housing for those underpaid workers,. However in this case, the Gingerbread House is possibly the most unique and historic building in Venice, so we should try to keep it as such.
Rick Feibusch November 25, 2012 at 05:56 PM
Maybe save a few of the little brick stores at the entrance for posterity and build around them? - But, to require that the property owner considerably reduce the value of the property substantially would not be fair and would not hold up in court unless the City were to buy it off the present at near market value - To compare it with Lincoln Place, that is needed housing and arguably somewhat intact and can be restored and upgraded and rented at market rate with an affordable apartment component, is unfair as it is presently a bunch of commercial stores and takes up an enormous amount of square footage for little return. It will be sad to see it go, but to try to force the present owners to lose their investment is just not the way things go in the US...


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