$1 Billion Los Angeles ‘Mountain’ Gets $350 Million Discount
February 28, 2019 - Beverly Hills
A 157-acre flat hilltop sitting high above Beverly Hills has had $350 million slashed from its billion dollar asking price.
The undeveloped property is the most expensive listing in the history of Los Angeles with views stretching from the Pacific Ocean, Catalina Island and downtown LA.
The Mountain of Beverly Hills first went on sale last summer for $1 billion but there were no credible offers. It’s now being offered at $650 million.
The price cut follows news that a local developer offered $400 million for the property and the seller countered with $600 million, TMZ reported last month.
The Mountain is divided into 17 parcels, six of which are zoned for residential development. The plots could hypothetically hold a hyper-exclusive enclave of high-end homes, but listing agent Aaron Kirman previously told The Los Angeles Times that he envisions a single buyer looking to erect a private kingdom.
blog, Estate of the Day