Developer CIM Group already has a couple projects in the works in the neighborhood.
The tower has been vacant since 2015.
The city says the metallic structure will be "a positive addition to La Brea Avenue."
That price buys access to a private park and rooftop deck.
Empty for three years, the Hollywood tower holds 299 apartments that Los Angeles desperately needs.
Its permits were revoked a couple of years ago after the developer demolished an Old Spaghetti Factory that it was supposed to partially preserve.
The 43-room hotel would have a ground-floor restaurant with a bar.
The CIM Group project will bring 60 lofts and a rooftop restaurant to the neighborhood.
The 34-story tower will feature a 30,000-square-foot amenity deck and a rooftop terrace
The Jeremy will eventually become an eco-friendly "1" hotel, but right now it’s a hip and minimal hotel with a cool pool.
There are three proposals on the table, including one that would turn the landmarked property into a hotel and community garden.
The project would hold 375 residential units and nearly 265,000 square feet of retail in a seven-story building near Santa Monica and Wilton.
Korman Communities plans to turn the project into a high-end extended-stay inn under the AKA brand. The AKA in Beverly Hills rents from $4,500 a week.
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The hotel was supposed to open May 1 in one of the strip’s big new buildings. But it has pulled out of the project, without explanation.
The car dealership will be razed to make way for the five-story project, which will rise next to another, similarly sized CIM project.
CIM Group wants to construct a seven-story tower next to a taller residential tower it built but was forced to vacate after a judge revoked its permits.
At Wilshire and Rimpau, the Farmers Insurance Building was designed by the same architects who designed the Theatre at the Ace Hotel. CIM bought it in 2014 and filed plans to convert it to offices and condos.
Fred Segal Sunset will feature a cafe by San Francisco’s Tartine, fitness studio, salon, wine shop, florist, and indoor/outdoor restaurant by Los Angeles restaurateur Bill Chait.