Billion-Dollar Mountaintop Property in Beverly Hills Gets $350 Million Price Cut, Is Still Empty
The 157-acre mass of land sitting atop a mountain in L.A.'s Beverly Hills neighborhood originally hit the market for a staggering $1 billion
If you were eyeing the billion-dollar mountain for sale in Beverly Hills, now’s your chance to buy it for 35 percent less than its original asking price.
The 157-acre stretch of land, sitting atop a mountain with spectacular views across the city, originally hit the market for a staggering $1 billion, but now, the property can be yours for $650 million.
The 35 percent slash follows a reported back-and-forth negotiation over the property that happened last month, in which developer Scott Gillen offered $400 million and the seller, Secure Capital Partners, countered with $600 million.
The deal, which was first reported by TMZ, did not go through, and sources told the outlet that it was likely never serious to begin with.
The compound, which is the highest point in the 90210 zip code, is so large, it could fit Disneyland inside its borders and still have 57 acres left over.
Dubbed “The Mountain”, the listing describes visiting the giant piece of land as a “god-like experience”
It boasts views of Downtown LA, Catalina Island, and Santa Monica but promises that its future owner can be at the Beverly Hills Hotel and or shopping Rodeo Drive within 5 minutes.
The property is divided into 17 parcels of land, with six ready-to-build lots. The very lucky buyer will be able to build three 500,000-square-foot buildings and never have to worry about neighbors.
This means it will not hold a big housing development but rather just a few large compounds — with the listing even suggesting the new owner builds their own soccer field, amphitheater, helipad, or a polo field, depending on their tastes.
“This is the only opportunity to own your own mountain that looks down at all of Los Angeles,” Aaron Kirman, President of Pacific Union Real Estate said in a statement. “Our likely buyer for this property is an individual who wants to build his or her own compound.”
“To be able to claim ownership of the largest property at the highest point in all of Los Angeles, will make the buyer the most prestigious billionaire overnight,” Kirman added.
Previous owners include Princess Shams Pahlavia and talk show host Merv Griffin, according to the Los Angeles Times.
The property previously came up for sale in a fraught off-market negotiation that deteriorated into legal battles and infighting and eventually fell through.