A Big 260-Acre Unfold of Personal, Undeveloped Land in Bel-Air Is up for Public sale
A bit of California’s most profitable actual property is heading to public sale.
Paramount Realty USA simply put 260 acres of personal, undeveloped land positioned within the coronary heart of Bel-Air up for public sale. Senderos Canyon is the largest parcel at the moment in the marketplace within the county, based on the Los Angeles Times, with second place belonging to a considerably smaller 53-acre unfold in Granada Hills asking $1.2 million.
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Because the final frontier of the better Los Angeles space, the property will permit builders, buyers and even you to place down roots in considered one of California’s most unique enclaves. Situated round different rich epicenters like Beverly Hills and the Santa Monica Trailhead, the clean canvas might accommodate a lavish mansion, a ritzy lodge and even a shopping mall.
“With the chance to determine a legacy for generations to return, the acquisition of Senderos Canyon presents a once-in-a-lifetime probability to personal an unmatched crown jewel portfolio asset in coveted Bel-Air,” itemizing agent Scott Tamkin of Compass mentioned in an announcement. “Within the instant neighborhood, there are at the moment eight homes for sale starting from $50 million to $150 million, with the most important parcel being solely 5 acres.”
Curiously, this isn’t the primary time the Canyon has appeared in the marketplace. The parcel was listed for $125 million in 2013, however didn’t draw any patrons. The asking value was slashed to $75 million in 2019, then once more to $60 million. Crickets. Now, it’s being auctioned with bids beginning at $39 million, marking a reduction of practically 70 p.c.
Bidding is open now by March 15. To hurry issues alongside, the vendor is providing a $2 million credit score to any purchaser who can shut earlier than April.
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