MAGIC CASTLE BUYER NAMED

Message from Bill Bowers: " I’m pleased to report that detailed discussions for a new lease for the Academy on the Magic Castle have now begun in earnest. While the sale of the entire 10 1/2 acre Glover Family property is still in escrow, and we cannot predict with certainty when the transaction will be finally completed, the prospective buyers are in negotiations with us concerning the Magic Castle lease. The group purchasing the property is lead by Sean MacPherson, a very successful, highly regarded, and well-known owner and operator of hotels and restaurants in both New York and Los Angeles. In New York, Sean owns and operates The Waverly Inn, The Maritime Hotel, The Bowery Hotel, The Jane Hotel, Lafayette House, The Park Restaurant, and others. For those of you who would like to see, firsthand, some of Sean MacPherson’s local projects, you can visit Jones or Swingers in Hollywood and El Carmen or Bar Lubitsch in Los Angeles. I expect to have more news to pass along as our negotiations progress and be certain that we will keep the membership updated on developments as they become available for release."