The land once held a storied Old Hollywood mansion
Microsoft co-founder Paul Allen is selling one of the nation’s most valuable parcels of land in mansion-filled Beverly Crest.
The 120-acre property sits on top of a ridge in the 90210 zip code and is being advertised with a $150 million price tag. It’s not even the most expensive listing on the Los Angeles market. There’s a $250 million price tag attached to a similarly sprawling hillside parcel nearby, though that property comes with plans for an enormous 75,000 mansion.
Per the Los Angeles Times, Allen purchased the huge tract of land in 1997, when it still contained a Wallace Neff-designed mansion built for silent film star Fred Thomson and writer Francis Marion. Allen later tore down the house and installed a private street, but never developed the property further.
The land does appear to have been neatly staged for listing photos though; the ridge line is topped by large, level lawns of bright green grass and looks like a very challenging golf course.
The property is one of several listed in LA with nine-digit asking prices. It’s not inconceivable that they’ll sell for that much. Earlier this year, a beachfront mansion in Malibu became the first house in LA County to sell for over $100 million.
Allen’s land is somewhat unique because the lot is large enough that a buyer could easily develop several lavish mansions on the property—or hold on to all that acreage as a kind of private resort.
- 1441 Angelo Drive [Hilton & Hyland]