LOS ANGELES-The largest undeveloped parcel of real estate in the exclusive residential community of Bel Air is on the market. The 258-acre property is approximately 5% of the land in the community and is listed at $125 million.
Founded in 1923 by Alphonzo E. Bell, the affluent Bel Air neighborhood forms part of L.A.'s "Platinum Triangle" with the adjacent Beverly Hills and Holmby Hills neighborhoods. The undeveloped site in Bel Air previously was owned by an unidentified family that donated adjacent acreage to the Stephen S. Wise Temple, the Skirball Cultural Center and the Los Angeles Conservancy. The acreage is currently owned by an unidentified private international investor.
The parcel is represented by Aaron Kirman, president of Aaroe Estates. He did not immediately reply to a request for comment.
In a prepared statement, Kirman said that the site represents “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.”
Famous residents of Bel Air have included Ronald and Nancy Reagan, Elizabeth Taylor, Will Smith, entrepreneur Elon Musk, Kim Kardashian, Kanye West and Joni Mitchell.
The community has also been featured in many film and television shows, including most famously the exterior shots for “The Beverly Hillbillies,” filmed at 750 Bel Air Rd.
As previously reported by GlobeSt.com, nearby Holmby Hills also had several pricey celebrity properties on sale in recent years, including the Playboy Bunny Hutch and the Aaron Spelling mansion.
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