5 Percent of Bel Air For Sale: Only $125 Million
A more than 258-acre parcel in tony Bel Air has been put up for sale. It's being billed in a statement sent to the Weekly and other outlets as the "largest undeveloped parcel in fabled Bel Air" and as ...
" ... the most expensive property currently listed for public sale in the Los Angeles area."
We'd have to imagine it's one of the most expensive residential-zone listings in the United States.
A safe investment? Bel Air property only appears to go north in value. And, unlike Malibu, it will not likely be swallowed by the Pacific someday.
The parcel looks to us to include a canyon or ravine northwest of the Stone Canyon Reservoir. John Aaroe Group, whose Aaroe Estates has the listings, says in a statement that it represents a whopping 5 percent of Bel Air.
Want an 18-hole golf course in your backyard? You could do it here. Aaron Kirman, president of Aaroe Estates:
This site is one of the best remaining development opportunities in Bel-Air. It's a rare opportunity to develop something truly amazing-- one significant estate or perhaps multiple estate homes, with a golf course. The sky's the limit.
Check out more photos here.