One of the largest parcels of developable land in the ritzy Los Angeles enclave of Bel Air hit the market Tuesday for $60 million.Just imagine what the house might cost.
Known as Estate One in the super-exclusive 11-acre Park Bel Air subdivision, the sprawling 4.6-acre site offers incredible privacy and unsurpassed city, canyon and ocean views.
Bel Air is being known as one of the world's most prestigeous neighborhoods.
Matthew Momberger"It’s pretty much one of the most exclusive lot opportunities in the country," said Aaron Kirman of the John Aaroe Group, who has the listing with Drew Fenton of Hilton & Hyland. "It’s interesting because it’s so rare to get this kind of lot square footage and privacy in such a renowned location."
Mr. Kirman hosted an open house for brokers Tuesday, and "we’re getting a lot of traffic on it already," he said. "Three billionaires have reached out to me with calls."
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Estate One sits directly across the street from the famed Hotel Bel-Air and Bel-Air Country Club, with a private secured entry drive right near Bel Air’s East Gate.
"You go through the gate and you’re on one of the most interesting promontories around," Mr. Kirman said. "It’s like being in a park."
Estate One was grandfathered in before city officials cracked down on building large-scale homes in Bel Air in late 2016, he said. So expect to see a quite over-the-top mansion going up on the site.
In fact, the buyer is allowed to build a home measuring up to 66,000 square feet, Mr. Kirman said. (Just for comparison, the White House has 55,000 square feet of living space and the Taj Mahalhas 34,596.)
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Founded in 1923, the well-heeled, prestigious neighborhood of Bel Air (also known as Bel-Air or Bel Air Estates) sits in the foothills of the Santa Monica Mountains in the Westside a-rea of L.A. that Judy Garland, Elizabeth Taylor and Alfred Hitchcock called home.
Bel Air is home to the storied Billionaire’s Row where homes can command eight-figure prices. Elon Musk, Founder of Tesla and SpaceX, owns five homes in Bel Air, and superstars Jay-Z and Beyoncé recently dropped $88 million on a 30,000- square-foot residence in the area.
Earlier this year, a $250 million spec home was listed for sale in Bel Air. And in August, The Chartwell Estate, owned by late TV executive and Univision headJerry Perenchio, hit the market with an astronomical $350 million asking price, making it the most expensive home ever listed for sale in the United States.
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Estate One is being offered with completed plans and permits," but we’re not marketing it that aggressively because the people who would buy this want to create their own vision," Mr. Kirman said. "With what’s existing out there, some people just can’t find what they want."
Estate One is one of three hilltop estates in The Park Bel Air subdivision. It is part of the so-called Platinum Triangle, the intersection of Bel Air, Beverly Hills and Holmby Hills.
"We’re focusing on this one first, then we’ll deal with the other two estates," Mr. Kirman said.
Park Bel Air was previously the site of eight separate homes, all of which were razed and cleared to make way for the new estates.
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