Several people have written me about this so I guess there's sufficient interest to warrant this posting. A large hunk of land in Hollywood is for sale and it's the parcel that includes the Magic Castle as well as a famous Japanese restaurant called Yamashiro. The ten acres of choice ground have been owned forever by a family called the Glovers. There's also a motel there as well as a lot of undeveloped land which someone may be able to put to profitable use. All eyes though are focused on an old mansion, the former Rollin B. Lane estate, which was built in 1908 and which was later, with many add-ons and modifications, turned into the Magic Castle. I'm a longtime member of the Castle and no, if I don't know you, don't bother writing me and asking if I'll give you a guest pass because I won't.
The Magic Castle, in case you live in a hole, is a private club for magicians or anyone who wants to pay the membership fee. It's an old house full of exhibits and wonderful furnishings and architecture, and there are showrooms in which some very talented people perform the Linking Rings and occasionally other tricks. There's also a restaurant which used to be kinda so-so and mediocre but which has been upgraded to the point where some folks think it's pretty good. You get dressed up (jackets and ties for men at night) and go up there and see great magic and eat and wander around and look at things and no, like I said, I won't give you a guest pass if I don't know you. It's enormous fun.
The articles about the possible sale (like this one) are a little vague on the relationship but here's all you need to know: The Castle is operated by a group called The Academy of Magical Arts and for years, it has leased the structure from the Glovers. Not long ago, there was a crisis period during which it looked like the future of the Castle, at least in that precious building, was threatened. That all got settled and a lot of members rejoiced in the news that the continued presence of the Magic Castle seemed assured. I would imagine they're not happy to have this new uncertainty arise, especially so soon after.
As far as I can tell, no one knows if there'll be a buyer and if so, what that party might want to do about the Magic Castle. The buyer(s) may even be the Magic Castle folks, themselves. This is all a little new and fuzzy.
If you want to make an offer — no price has yet been mentioned — here's a link to the realtor's listing, which includes lots of photos and history. If the photos of the Castle make you yearn to visit, just remember what I said about guest passes.