Well, it may not be the most expensive in the world, but it is the most expensive land that has been commercialized in the city of Los Angeles, in the United States. Its price: one-billion dollars!
To buy this land known as “The Mountain” and have the opportunity to build a super luxury development, you have to shell out that impressive amount of money. This area is equivalent to 57 hectares and is located in the exclusive neighborhood of Beverly Hills.
Although the inhabitants of the area have already seen sales at stratospheric prices in past years, such as Hugh Hefner’s Playboy mansion that was sold in 2016 for $100 million dollars, the cost of acquiring this land does not fail to amaze locals and foreigners alike.
In fact, experts evaluate the mathematical acrobatics necessary for a developer to make the price worthwhile. The idea is to build a megamanagement community that only billionaires could afford.
The point is that only 10 hectares would go to the buildings and the rest would be conserved as green areas. In the opinion of real estate agents in the area, the mansions that are built here could exceed a value of $100 million dollars to recover the investment. The developer who takes this challenge would undoubtedly have to build the largest and most incredible houses to recover the cost of the land.
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Some specialists in the area talk about the feasibility of building 17 houses of more than 4,600 m2 with amenities and first line finishes. The funny thing is that the previous owners of “The Mountain” have wanted to make the project a reality, but it has not been able to happen among other things, due to financial and bureaucratic obstacles combined with the refusal of public opinion. The neighbors are against the “mansionalization” of the area and have even made protests about the idea.
The agent in charge of selling this land announces it as the most unique and unlimited development opportunity in the world, in which the buyer can build up to 14 meters higher than the current permitted height. “Never again will we see an opportunity like this: unparalleled views, privacy and flat surface,” he says.