Larry Flynt Sells Hustler Store on 'Million Dollar Listing'
LOS ANGELES — Larry Flynt appeared on the Nov. 11 episode of Bravo TV's "Million Dollar Listing," negotiating the sale of Hustler's Sunset Strip property to developer Zachary Vella of VE Equities.
James Harris and David Parnes, co-founders of luxury real estate firm Bond Street Partners, struck a deal with Flynt during the "The Hustler Hustle" episode.
"I have no idea what's gonna happen when Mr. Flynt comes in to discuss this deal," said Harris in the episode. "I mean, this guy is as savvy and hard-nosed as they get, but he's the one that has the final word."
"I hear there's been a deal and that's why I'm here," said Flynt soon thereafter, locking eyes with Harris and Vella in a luxurious meeting room. "I just want to make sure it's real, because we'd like to move forward and bring it to a conclusion."
Harris ended up securing the deal for Vella, whose purchase of the iconic 20,500 sq. ft. location closed for about $18.3 million. VE Equities will develop the mixed-use building as part of a joint-venture project that includes Arts Club, a private membership club where actress Gwyneth Paltrow is a minority partner. It will reportedly be turned into an upscale restaurant and nightclub.
Meanwhile, the flagship Hustler Hollywood store will be relocated to 6538 Hollywood Blvd., at the southeast corner of Hollywood and Schrader, during the first quarter of 2016.