The land above Beverly Hills is sold for $ 1 billion

The plot of land located over Beverly Hills is recognized as the most expensive real estate object in the history of Los Angeles

The site covers an area of ​​157 acres and is located at the highest point of Beverly Hills. His sale is engaged in the famous American realtor Aaron Kirman. He said that now the search for a potential buyer is being actively pursued. According to him, the new owner of the site can become one of about 100 billionaires, included in the preliminary list of interested parties in the transaction.

The previous owners of the site at the top of Beverly Hills could not get along with it. At one time, Princess Chance Pahlavi, the eldest sister of the last Shah of Iran, wanted to build her palace there. Then this land was bought by media tycoon Merv Griffin, who dreamed of an Italian-style house, lakes and a helipad. However, due to financial problems, he failed to translate his dreams, and in 1997 the site was sold to the founder of Herbalife Mark Reynolds Hughes, who died three years after the deal and did not even begin work on the development of this site.

At the moment, Secured Capital Partners is developing the site. For this year there were roads, electricity, drainage system. The company even split all 157 acres of property into 17 plots to make it easier to sell, but Kirman hopes that the plot will be sold in its entirety.

forbes.com