The Metric, a boutique hotel located in downtown Los Angeles, has been sold for $9.25 million, or $330,357 per key, in a deal facilitated by Marcus & Millichap.
Previously operated as Jerry’s Motel, the property had been owned by the Patel family for more than 50 years before undergoing a redevelopment during the pandemic. The hotel reopened in 2023 as The Metric Hotel under the direction of operators Sumit Vanmali and Rosalyn Vanmali.
The 14,433-square-foot property includes 28 guestrooms and a more than 1,200-square-foot owner’s apartment that could potentially be converted into two additional guestrooms. According to Calabassas, Calif.-based Marcus & Millichap, the buyer plans to introduce branding initiatives and add a food-and-beverage component while maintaining the hotel’s boutique positioning.
Eddy Nevarez—managing director, investments, Marcus & Millichap, based in the company’s Encino office—represented both the sellers, Jagubhai V. Patel and Nilaben R. Patel, co-trustees of the family trust, and the buyer in the transaction.
“This transaction was especially meaningful because the property had been owned and operated by the same family for more than 50 years before being completely redeveloped into a newly constructed luxury boutique hotel,” Nevarez said in a statement. “The Metric Hotel stood apart because of the extraordinary vision behind the property, its exceptional design, operational efficiency and the unique guest experience created by ownership.”