Will it be close to a " Dollar Store"?

Amazing views of LA, six "buildable" lots BUT there are obstacles that Merv Griffin and Tom Cruise found stopped them- California has water shortage and permits to build need access, and because this is a hilltop also fire prevention plans. Is there another Shah or member of Royal Family who only cares about the 90210 zip code for status and likes the idea of building a compound on the hill top? By they time they are done they may need 2 billion. Okay who has this cash - Sergey Brin, Larry Page or Jack Ma - I think the market is soft so I doubt any of those would take the risk. This is a prestige property for bragging rights.  I don't think it makes sense to fence and build six  60 million dollar houses.  What are others thoughts ? Is Aron Kirman on Active Rain- let's ask him to chime in. What a feather in his cap if he closes this deal!

I think Endre Barath, Jr. has toured that property. It's definitely high profile, Inna!

Hello Inna - an asking price remains just a price. We shall see. 

I think I saw somewhere that this has been listed for quite some time now.  Personally for me, the traffic to get there is a bit intense and my helicopter is in the shop at the moment, so I won't be placing an offer on it.

Lifestyles of the rich and famous. How the less than 1% live. 

Guess if I had a spare Billion dollars in my account, I'd give it consideration... Perfect place to put up a few chicken coops and maybe raise some pigs or sheep... though since all that isn't likely... it would be nice to send a referral buyer... :)

I've got my checkbook out Inna Ivchenko , do I make that out to you personally?

When I first glanced at your question, I thought it was a MILLION dollars, and I was thinking, OH MY! WHAT A STEAL! And then I saw a "B". I can't make any judgments on the price but wow, what a piece of property.

How much commission? :)

InnA,

There are 2208 billionaires in the world IN 2018 according to Knight Frank wealth report..  Those are the one who could afford it, or there could be a partnership between them.  That being said a great number of billionaires have made their money in finance and in real estate.  This means they are number savvy, and if the numbers pencil out and the city helps...it may be. I would have to see the numbers...A

Everything is negotiable and there is a property for every buyer and a buyer for every property.

But this is a great question for "The Land Man".

Endre Barath, Jr. 

I don't really have thoughts on properties that are out of my market beyond of course the "just wow" at the price tag.

I hope you represent the purchaser.

Donald T thinks he can afford 2.8 parcels.

Costoso. Amiga

It's is California after all - pretty much says it all :)

The seller would probably quadruple his or her earnings if they subdivided into several more approachable properties.

Inna, isn't that a nice round number. I can see a single buyer at a much reduced price only because it'll be very hard for six billionaires to play a friendly game of King of the Mountain in such an exclusive environment.

I would think the buyer pool is not that deep.

I will be curious to see if anyone jumps at that price.

My thoughts, Inna?

It is slightly out of my price range.  ^_~

Hopefully, it will sit on the market and then they will call you to list it, Inna!

Hope you have a great holiday weekend with your family!

I can't begin to opine because I just don't deal in those kinds of numbers or markets that see them. But if I sold it, I wouldn't mind the commission.

Amazing. $$$$$$$$$$$$$$$

I wish I had a buyer or this listing. :)

Does it include mineral rights?

Nice party area that looks like it has a golf course on it. I just read something today by Gwen Banta that LA prices are dropping. Yeah, seems like it.

worth every penny assuming it can be developed so as to give a return on investment. There is no more/new land being added to this zip code. Consider Real Estate surrounding Disneyland Anaheim. IF it was ever was to become available (fat & rare chance), it would be for an outrageous price take-it or leave-it. There are many billionaires that would take it as a holding or even a write-off knowing that it will never decrease in value. Such is the case with this Beverly Hills shangra-la

one can't give an opinion unless one knows the zoning....size of lots...how many lots to be designed in that tract.... the end product to be built and the fair market value of the end product of the home to be built.... then I'll give you an opinion!!!! until then, no one can do that....

the view is worth a bundle!!!  the homes will be of the largest magnitude of the area..... they'll demand the highest sale price in the area.... sounds like it may not be such an outrageous asking price for the tract of land.... 

Someone will buy this property. The purchase price is yet to be determined. 

2500 a SQFT to 3500 a SQFT Price Range on land WOW!

AS my Mother would say Thats Really Something!

Endre Barath, Jr.  We need to read your post!!! 

Nice land bank!  I wonder if it was subdivided into 10 parcels could it cumulatively fetch more money?

Beautiful piece of property. 

   There's not enough length to land my personal Boeing 757, so I'll pass.

Inna Ivchenko the land should be split to build a few homes on it. 

Location, location, location How many multi-million dollars estates can be built there is the question?

Sounds like a nice listing.

It's LA! What does my agent Endre Barath, Jr. think?

It sure takes a lot of 200-300k  sales here in NH to add up to that

Personally, I wish them the best and hope they find a buyer.  Given there are obstacles but one never knows who might want this unique parcel of land. 

Inna, I am very familiar with this lot, since my listing was just below it on Clearview Drive that I listed at $22+million and sold it last year... with that said I might disagree with your comment to Michael Jacobs  I know more about this land than you want to know:) BTW I wrote a  watered down blog post about it, feel free to check it out, Endre

I'm not biting.

Well, a company becomes a trillion dollar company so, Inna Ivchenko - this can happen.

This is old news: I already commented on it several weeks ago

Wow. That's quite the price tag. With 6 premium building, lots and 157 acres total, perhaps a wealthy investor will buy it to build a home on and sell off the other 5 parcels. -K

I don't have any thoughts about this. It's not something I can understand.

Makes me glad to be in Oklahoma.

Wow, and that price tag is ONLY for land?   

Over the top... of the hill?

Wow, hope you get that commission.

My first thoughts were, "it's just an extra zero or two."

When I was working with investors and hedge fund managers during the economic downturn a decade ago I saw a very large amount of money chasing too few properties. These were the days when more than 2,000 homes were going to foreclosure auction each day. When one fund manager came into the Phoenix area with $2 billion to invest, there were days in which his group could have purchased every home that had potential equity. But they didn't. Each property had to stand on its own financial merit.

The fact that one billion is hard to wrap our minds around might be because the number is so large. In a place where the property would be unaffordable for most of us mortals, it doesn't mean that its unaffordable to the super-rich. It's probable that the price tag is not without sound financial merit; it's just wider than average. 

I do think it's overpriced for today's dollar. It may be the actual value though, in the not too distant future.

Looks very nice. A bit out of my comfort zone, but if I had the means, I may be interested.

Hmmm...trying to calculate the referral fee if I sent you the buyer...

At first glance, $1B sounds like a lot of money, but not knowing that market, I can't say whether it's priced right, too high, or too low. 

I am curious to know what local market experts say about the price.

I hope i can send you a buyer referral

Big Time 

What the market can bear. Lets see if it sells.

They’re not making any more land and we all know about location location location. Interesting to see what happens. 

It's certainly an impressive property with a storied history.  But it's just the asking price...time will tell. I'll check my database.