E
lon Musk's potential bid on The Line hotel in Washington's Adams Morgan neighborhood sparked enough opposition to generate a petition against him. However, he ultimately didn't submit a bid, and no other serious contenders emerged. The hotel was sold at auction to Acore Capital, its lender, for $1 million, which included the value of an $86 million loan on the property.

    Acore had marketed the 220-key hotel through JLL ahead of the auction, held on the steps of a New York City courthouse. The property's history dates back to 2019 when Acore refinanced a $80 million loan from Deutsche Bank. Developers Sydell Group, Foxhall Partners, and Friedman Capital built the hotel on the site of the former First Christ of Scientist Church.

    The Line was known for its trendy restaurants, including a James Beard Award-winning eatery that closed in 2020. Despite its popularity, the hotel struggled during the pandemic, leading to foreclosure by May 2024. Acore took ownership at that time. It's unclear what the company plans to do with the property now.

    A petition on Change.org to stop Elon Musk from buying the hotel remains active, with over 2,100 signatures. Earlier reports suggested Donald Trump's advisor was planning a bid to turn the hotel into a private club, but it appears Acore is the new owner.