Beverly Hills plastic surgeon Daniel Barrett, MD, acquired 501 South Beverly Drive for $21.3 million in mid February, according to property records and real estate reporting.
The board-certified plastic surgeon, owner and founder of Barrett Plastic Surgery, plans to turn the 23,075 square-foot, three-story building into his future surgical center.
Dr. Barrett currently operates out of “The Roar Building” (aka Roxbury Plaza), a towering, 12-story, 115,000 square-foot behemoth at the corner of North Roxbury and Wilshire Blvd, bedecked with floor-to-ceiling windows.
The surgeon built two operating rooms and a recovery center in Roxbury Plaza at a cost of $1.5 million.
And he pays more than $65,000 in rent each month.
That’s according to a series of viral videos by Dr. Barrett, one of the world’s most prolific medical content creators, shared in May 2023.
“This, two operating rooms and a recovery room, cost me about $1.5-million to build,” Barrett said on TikTok last year.
@barrettplasticsurgery Am I ever paying off my student loans at this rate?! #doctorsoftiktok #doctorsoffice #plasticsurgery #studentloans #howmuchispendinaday ♬ original sound – Dr Daniel Barrett
That $1.5M build cost didn’t include the OR’s contents, which included a $50,000 humidifier (used once since install due to weather), $30,000 worth of breast implants on consignment, and $12,000 exam chairs in each of four exam rooms.
In a later episode of his “The Cost of Being a Plastic Surgeon” series, the surgeon says renting multiple locations in The Roar came to $65,000.
Among them, a 9th-floor office, gym and meditation room, for $30,000 a month.
“How about rent? Well, we have multiple locations within the same building, and overall, it’s about $65,000 on a monthly basis.”
Viewers jokingly suggested that with rent like that, Dr. Barrett should just buy the building, something he commented would be “more like $100 million.”
The surgeon’s move to or use of his newly acquired building is likely many months out.
Real estate news outlet The Real Deal says the surgeon paid $921 per square foot, making it “one of the priciest office deals in the last year on a per square foot basis.”
The purchase involved a $13.75 million bank loan to Dr. Barrett, and over $4 million in financing through an SBA loan program.
In an email to The Real Deal, Dr. Barrett confirmed he plans “to build out about half of the building into medical space, fit for a surgery center with operating rooms and a medical spa,” with the remainder of the building being available for lease to tenants.