Kim Kardashian's Skims HQ Building Sold For $105M

HOLLYWOOD, CA — An eight-story Hollywood office tower home to Kim Kardashian's shapewear company Skims has been sold for $105 million.

The 115,589-square-foot building at 1601 Vine St., between Hollywood and Sunset boulevards, was purchased by Kingsbarn Realty Capital from seller Snyder Vine LLC, according to real estate firm Newmark Group Inc., which handled the sale. In announcing the sale, Kingbarn called the building a "trophy" property.

Built in 2017 by JH Snyder Company, the property had been plagued by widespread vacancy since October 2022 when WeWork, which had leased the building through 2030, departed ahead of its bankruptcy protection filing, according to the Real Deal.

It was extensively renovated in 2024 and features high-volume ceilings, a limestone lobby with terrazzo flooring, floor-to-ceiling windows offering panoramic views of Hollywood, and on-site photography studios. Kardashian's company Skims became the building's anchor tenant later that year, making the move from its prior Culver City headquarters.

Newmark Vice Chairwoman Laura Stumm said 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. Their 15-year lease signals a strong belief in the long- term value of a physical workspace to foster creativity, culture and innovation."

Kevin Shannon, co-head of U.S. Capital Markets for Newmark, said there's "renewed conviction" for office building investments.

"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," he said.

Kingsbarn was set to purchase the property in 2023, "but the collapse of Silicon Valley Bank and Signature Bank of New York shook the capital markets and thwarted the company’s attempts to secure financing," the company said in a release.

“This purchase, along with our ability to secure financing for the building, is further evidence that the office market is recovering, a trend we expect to continue and to even accelerate. As state and federal workers continue to return to the office, we have also seen a great majority of private companies demand that their workers return to the office as well. Notably, the region's office construction activity has moderated, with new developments representing less than 1% of existing space. We expect this trend to continue to enhance the health and the overall occupancy within the sector," Kingsbarn CEO Jeff Pori said.