The $ 1B Collection "This May Be the End of Real Estate"
The undeveloped 157-acre property is located on the highest point in Beverly Hills
The Mountain of Beverly Hills is a property of superlatives: the highest point in the postcode 90210, the most expensive entry in the history of Los Angeles and perhaps the most overpriced price.
With its $ 1 billion price tag, the question is whether it will actually sell at a price even in the ballpark of what its seller asks.
"It will set the world on fire when it sells for a billion," Tim Murphy of Hall & Hall, a specialist in large ranch and farm properties, told the Los Angeles Times. "That could be the end of real estate."
Listing agent Aaron Kirman of Pacific Union Real Estate recognizes the challenge – "Being impressed with dirt is tough," as he told the New York Times – but he hits his head – with color-coded tables of billionaires he Although the property is divided into 17 packages that can be sold individually or theoretically built, Kirman targets and becomes a very wealthy buyer Sold individually by a developer.
"There are 2800 billionaires in the world," he told the LA Times. "We have found that there are 100 of those who could and want to buy the property."
So far, Kirman has been in contact with five billionaires and plans to travel to London, Qatar, Russia and China to meet others
Meanwhile, on the mountain, he plans to build a glass cube in which he can accommodate potential buyers, and he looks for ways to allow interested billionaires to stay on the property for a night or two. 19659005] The property, formerly known as Beverly Hills winery, has changed owners many times without realizing the grand plans of its former owners. The current owner is Secured Capital Property, an LLC managed by the son of philanthropist Victorino Noval, Victor Franco Noval. [LAT]