L.A.'s first-ever 10-figure asking price for real estate: $1 billion

[dalton99a]

http://www.latimes.com/business/realestate/hot-property/la-fi-hotprop-1-billion-beverly-crest-20180728-story.html

Billion with a 'b': Prized Beverly Crest acreage aims for $1,000,000,000
By Jack Flemming
Jul 28, 2018 | 6:05 AM


At Beverly Hills' highest point, a 157-acre land parcel with a storied history is hitting the market with the highest price tag L.A. has ever seen: $1 billion. (Beth Coller)

On a summit above Beverly Hills, a sweeping 157-acre property touted as the city’s finest undeveloped parcel is hitting the market with L.A.’s first-ever 10-figure asking price: $1 billion.

It’s being branded as “The Mountain,” and fittingly so. The undeveloped acreage sits at the highest point in the 90210 ZIP Code, and it’s — by a mile — the most expensive listing in the history of Los Angeles.

For reference, a 120-acre plot owned by Microsoft Corp. co-founder Paul Allen is on the market in the same Beverly Hills Post Office area for $150 million. Last year, handbag tycoon Bruce Makowsky made waves when he listed his four-story mega-mansion in Bel-Air for $250 million.

Aaron Kirman, the listing agent, calls it “the crown jewel of Beverly Hills,” noting that the potential is unparalleled. Views stretch from downtown Los Angeles to Catalina Island, and the closest neighbor is half a mile away. Disneyland, at roughly 85 acres, is a little more than half the size of the property.

....

[fierywoman]

1. Having lived in LA for 14 years, it looks like prime landslide acreage to me.

[madaboutharry]

7. I had the same thought.

And brush fires!

[TheBlackAdder]

9. That must be a haven for lightening strikes.

[NBachers]

2. Nice location for an array of broadcast towers.

[More_Cowbell]

3. Sometimes I wonder

What gives people the right to own big parcels of land to keep others out. Doesn't the land belong to all of us?

[Javaman]

10. this land is your land...

(I have always thought this should have been our National Anthem)

This land is your land, this land is my land
From the California to the New York island
From the Redwood Forest, to the gulf stream waters
This land was made for you and me
As I went walking that ribbon of highway
I saw above me that endless skyway
And saw below me that golden valley
This land was made for you and me

I roamed and rambled and I followed my footsteps
To the sparkling sands of her diamond deserts
And all around me , a voice was sounding
This land was made for you and me

When the sun comes shining, then I was strolling
In the wheat fields waving and dust clouds rolling
The voice was chanting as the fog was lifting
This land was made for you and me

This land is your land and this land is my land
From the California to the New York island
From the Redwood Forest, to the gulf stream waters
This land was made for you and me

When the sun comes shining, then I was strolling
In wheat fields waving and dust clouds rolling
The voice come chanting as the fog was lifting
This land was made for you and me

[NCTraveler]

12. It's the cornerstone of the foundation of our country.

It's also a requirement for a peaceful civilization.

"Doesn't the land belong to all of us?"

No. This is soundly rooted in law.

[VOX]

4. At that price, a buyer would have to pay nearly $12 million in property tax ANNUALLY.

But what’s $12 million a year to someone who has a $1 billion-dollar home?

[rainin]

5. Russia, if you're listening......?

[Vinca]

6. It doesn't do it for me . . . looks like a golf course.

Give me 157 inexpensive acres in Vermont any day.

[superpatriotman]

8. Wildfire danger

Otherwise I'll offer $500 million. Let me know.

[blugbox]

11. One positive I took from this...

Look at how much stinkin cleaner LA air quality has gotten over the years! How is that not obvious to older repugs? They want to undo that??