In 2011, a California hotel owner refused to sell for $6 million; the final deal reportedly reached $16.25 million
- For years, Ray Patel’s Golden Key Hotel stood on a busy stretch of Colorado Street in Glendale, California, surrounded by a city that was changing quickly.
- According to the Los Angeles Times, then came the Americana at Brand, a roughly $400 million mixed-use development that brought shops, restaurants and homes to the area.
- Patel’s 55-room hotel occupied an awkward piece of land beside the new project, eventually becoming almost enclosed by it.
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- For years, Ray Patel’s Golden Key Hotel stood on a busy stretch of Colorado Street in Glendale, California, surrounded by a city that was changing quickly.
- According to the Los Angeles Times, then came the Americana at Brand, a roughly $400 million mixed-use development that brought shops, restaurants and homes to the area.
- Patel’s 55-room hotel occupied an awkward piece of land beside the new project, eventually becoming almost enclosed by it.
Sources: Times of India