October 24, 2007

SOLD! At $170 Million

The Ritz-Carlton Pasadena, that is.

The 392-room, Five Diamond hotel has been a Pasadena icon since it began life a century ago, and remains a popular retreat, event space, and major wedding destination. And now it’s been sold for $170 million to Hong Kong-based Great Eagle Holdings Limited. Whether it continues to operate under the Ritz-Carlton name or is rebranded as a Langham hotel remains to be seen.

What are the homes like around this ritzy hotel? Exactly as you imagine they would be: Grand old-time Gatzby era mansions with all of the stately presence that is reflective of their historic backyard landmark. A journey through the neighborhood feels like a passage through time in many ways. Did I fail to mention that these properties also tend to be expensive? Like the prospective hoteliers, you will have to pony up big bucks to settle in the Oak Knoll. Here are a few recent sales in the immediate area both in Pasadena and bordering San Marino:

1400 S OAK KNOLL AVE
SOLD FOR: $1,750,000 (09/07/2007)
BEDS: 4/ BATHS: 4
SQ.FT.: 3,023
YEAR BUILT: 1928

1151 KEWEN DR
SOLD FOR: $1,657,000 (08/13/2007)
BEDS: 4 / BATHS: 2
SQ.FT.: 2,288
YEAR BUILT: 1932

SAN MARINO, CA
1842 S EUCLID AVE
SOLD FOR: $1,090,000 (08/17/2007)
BEDS: 3 / BATHS: 1
SQ.FT.: 1,505
YEAR BUILT: 1927

816 PLYMOUTH RD
SOLD FOR: $1,675,000 (08/01/2007)
BEDS: 4 / BATHS: 3
SQ.FT.: 3,196
YEAR BUILT: 1935