The Grand Central Market has been a cultural landmark in Los Angeles for the past one century, and it celebrated its 100th-anniversary last week. The property was recently sold to a Beverly Hills-based real estate investor who has promised to maintain all its historic features. The tycoon also purchased the Million Dollar Theater, which is a 12-story building that is next to the market. Grand Central Market is a bustling place, and it is often visited by locals and tourists who wish to buy the food, spices, and many other commodities. The market is open every day, and it attracts approximately 2 million people per annum. It has gates on Broadway and Hill Street.
The owner of the property is Adam Daneshgar, who serves as the president of Langdon Street Capital. He believes that the market will be safe and nothing will be changed. Deneshgar has not informed the public the amount of money that his company paid to acquire the two buildings that have been owned by Yellin Co. since the 1980s. The Million Dollar Theater and Grand Central Market were established by the late Ira Yellin who was among the first downtown investors.
According to Daneshgar, millions of dollars will be invested to maintain the market. The funds will be used to repaint the walls and renovating lights. He also said that the company plans to add a few more stalls to the existing 40. The people who have currently rented the place reflect is its history of being a place where resident buy inexpensive foods. Eateries that have been established at the Grand Central Market include the China Café, which has been open since the 1950s. It is also home to the Sari-Sari Store, which is the renowned for selling Filipino food that is prepared by a nominee of the James Beard Award.