Posted: Monday, July 30, 2018 – 9:49 AM
A sweeping 157-acre property on a summit above Beverly Hills is hitting the market with the L.A. area’s first-ever 10-figure asking price: $1 billion, it was reported Monday.
The undeveloped acreage, which is being branded as “The Mountain,” sits at the highest point in the 90210, and it’s the most expensive listing in the history of Los Angeles.
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, refers to “The Mountain” as “the crown jewel of Beverly Hills.” 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, according to the Los Angeles Times.
The mountaintop was once owned by a sister of the late shah of Iran, the Princess Shams Pahlavi, who had planned to build a lavish palace there, The Tiumes reported. The property was later acquired by talk show host-turned-TV- producer Merv Griffin, who commissioned prominent designer Waldo Fernandez to create a marble-and-limestone mansion. It was never built.