David Cooley is a man who knows when a party is over.
For three decades, he was the face of West Hollywood nightlife. He built The Abbey from a tiny coffee shop into a global juggernaut. But recently, the hospitality titan has been quietly offloading his most prized assets. First, it was the business itself. Then, it was the sanctuary he called home for over 20 years.
When David Cooley sells house and business in the same breath, people start wondering what’s actually going on. Is it a retirement? A relocation? Or just a savvy businessman reading the room before the music stops? Honestly, it feels like the end of an era for a specific kind of Hollywood glamour that doesn't really exist anymore.
The Rossmore House: More Than Just a Real Estate Flip
You’ve got to understand that the house Cooley sold wasn't some cookie-cutter mansion in a gated community. It’s the "Rossmore House" in Hancock Park. This place is basically a living museum of Hollywood history.
Built in 1923 by architect Henry F. Withey, the English Country-style estate has seen some things. It was originally built for silent film star Katherine MacDonald, known back then as the "American Beauty." Later on, in the 1950s, Vivian Vance—yeah, Ethel Mertz from I Love Lucy—lived there while filming the show.
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Cooley picked it up in 2001 for roughly $1.9 million. By the time he decided to move on, he had transformed it into a 5,500-square-foot masterpiece. When the dust settled on the deal in mid-2023, the home sold for **$6,786,400**.
Sure, that’s a bit under his original $7.7 million asking price, but let's be real: a $5 million profit over 20 years isn't exactly a loss.
Inside the "Tequila Turret" and Speakeasy
The reason this sale made such waves in the L.A. real estate world wasn't just the price tag. It was the vibe. Cooley worked with designer Chad Waterhouse to turn a "dark, heavy" English house into something he called "Hollywood Regency."
He kept the stained glass and the archways, but he added some legendary party features:
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- The Tequila Room: Tucked into a turret of the detached guesthouse.
- The Private Speakeasy: A lower-level lounge with a wet bar for serious cocktail hours.
- The Courtyard: A romantic spot where he famously hosted fundraisers for people like Hilary Clinton and Kamala Harris.
It was a "lifestyle" house. It was built for a guy who ran the most famous gay bar in the world and wanted to bring that same hospitality home.
Why David Cooley Sells House and The Abbey Together
If you follow the West Hollywood scene, you know that the house sale was just the first domino. Shortly after, news broke that Cooley was selling The Abbey and its sister bar, The Chapel, to tech entrepreneur Tristan Schukraft.
The total deal for the business and the real estate on Robertson Boulevard was reportedly around $45 million.
Why now? Honestly, Cooley is in his 60s. He’s spent 33 years dealing with the chaos of the bar industry. He survived the 1990s AIDS crisis, the 2008 recession, and the absolute nightmare of the COVID-19 lockdowns. In interviews, he’s mentioned that the pandemic year was the hardest of his life.
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When a guy sells his legendary business and his historic family home within a few months of each other, he isn't just "downsizing." He’s exiting the stage.
What This Means for Hancock Park and WeHo
Hancock Park is one of those neighborhoods where the neighbors actually care about who moves in. It’s an HPOZ (Historic Preservation Overlay Zone), meaning you can’t just tear down a 1920s brick mansion to build a modern glass box.
The fact that the Rossmore House found a buyer at nearly $7 million proves that there is still a massive appetite for "old-world charm" in Los Angeles. People are tired of the "flippers" who strip the soul out of houses.
As for Cooley, he’s basically a free agent now. He’s left a legacy that changed the face of Santa Monica Boulevard forever.
Actionable Insights for Luxury Sellers
If you're looking at the David Cooley sale as a blueprint for your own real estate moves, here is what actually worked for him:
- Preserve the Pedigree: He didn't gut the 1923 details. He highlighted them. If your home has a history, sell the story, not just the square footage.
- Specific Amenities Matter: The "Tequila Turret" might sound niche, but in the luxury market, "unique" beats "standard" every time.
- Timing the Exit: He didn't wait for the market to crash. He sold when his brand was at its peak.
- Privacy is Currency: He invested heavily in verdant privacy hedges and gated security. In L.A., you’re paying for the ability to not be seen.
The era of David Cooley in Hancock Park is officially over. Whether he stays in L.A. or heads for a quieter life in Montreal or Europe remains to be seen, but he certainly left with his pockets full and his reputation intact.