Dealmaker: Newmark Arranges $105M Sale of Hollywood Office Building

(Illustration courtesy of Newmark)

Newmark arranged the $105 million sale of 1601 Vine, a Class A office building in Los Angeles’ Hollywood submarket.

The 115,589-square foot building is 100% leased, anchored by Skims Body, a clothing company co-founded by Kim Kardashian.

Newmark Co-Head of U.S. Capital Markets Kevin Shannon, Executive Vice Chairman and Head of International Capital Markets Alex Foshay, Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll, Executive Managing Director Bill Bloodgood and Director Alex Bergeson represented the seller, Snyder Vine, LLC. The buyer was Kingsbarn Realty Capital. Newmark Co-President, Global Debt & Structured Finance Jonathan Firestone and Director Henry Cassiday provided support on debt strategy and financing considerations throughout the transaction process.

“Capital is showing renewed conviction in high-quality, 2025-vintage office investments,” said Shannon. “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.”

Stumm added that 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,” she said. “Their 15-year lease signals a strong belief in the long-term value of a physical workspace to foster creativity, culture and innovation.”

Delivered in 2017 by JH Snyder Co., the property was extensively renovated last year. 1601 Vine is located along the Hollywood Walk of Fame.