Massive Bel Air development site lists for $60 million
April 02, 2019 - Bel Air
A sprawling piece of land in the heart of Los Angeles' most sought after neighborhood boasting views of an idyllic vineyard and rolling Californian hills has been listed for $60 million.
The 30-acre estate, located on a private road near Sunset Boulevard in the wealthy suburb of Bel-Air, comes with planning permits to build a lavish 40,000-square-foot mansion along with an extended driveway.
The seller, Eri Kroh of Sandstone Properties, claims to have worked for more than ten years lining up permits and planning permissions to allow one wealthy buyer the chance to build their own bespoke estate from scratch.
While the basic construction has already begun, wealthy buyers are invited to design the estate themselves including putting the finishing touches to their own tennis courts, basketball courts, indoor and outdoor pools, ballroom and subterranean garage capable of housing more than ten vehicles.
The property could also have its own vineyard, should a new owner decide to plant vines on its portion of the hillside.
Kroh told the WSJ that he wants buyers to customize the property to their own unique tastes.
The realtor bought the site for $6 million in 2005, boasting a potential profit exceeding $50 million in less than 15 years.
Other mega-lot listings currently on the market include a 10.6-acre, $150 million plot also in Bel-Air as well as a 157-acre mountaintop parcel in nearby Beverly Hills asking $650 million.
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