Bel Air’s 260-acre Senderos Canyon property to be auctioned – The Hollywood Reporter

It’s hard to imagine that a whopping 260 acres of undeveloped real estate could still exist in Los Angeles, but just such lots are currently up for auction. The private Senderos Canyon Spread is located in Bel Air and accounts for his 6% of total land volume in his super-expensive LA neighborhood.

“It’s about three times the size of Disneyland,” says Scott Tamkin, co-listing agent for Compass’s Tamkin Real Estate Group. (Note: The Disneyland theme park itself is about 85 acres, but the entire Disneyland Resort, including the hotel and California Adventure, is about 500 acres.)

An unidentified seller set a $39 million minimum bid on the Crown Jewels estate, which last hit the market for $60 million in March. appeared on the market. Senderos Canyon is being auctioned by Paramount Realty USA, and bids for his 260-acre Bel Air property are open until March 15th. Misha Haghani, founder of Paramount Realty, added: There aren’t many comps for properties like this. When this mission first crossed our desks, we were shocked to learn that Bel Air has 260 acres of undeveloped land. ”

One of the challenges in selling real estate is finding a wealthy buyer willing to buy such a large plot of land on their own or willing to go through the complex process of development. Tamkin said the untitled land is zoned for housing and horses. “Ideally it would be used for housing and wellness centers. Added when needed.

Attempts to rezoning properties and developing them for commercial use, such as shopping centers and hotels, will be much more difficult to succeed. facing resistance.

Senderos Canyon real estate seller. real is a limited liability company called Giro Properties, offering a $2 million discount to buyers who close the deal by April 1st. Affordable housing, comes into force. For property sales over $10 million, the new tax adds 5.5% to the transaction. “Basically, sellers submit acceptable bids and pass these savings on to buyers who close by the end of March,” he said.

It’s not unheard of for multi-million dollar real estate auctions in LA’s most expensive neighborhoods. In 2021, the Hearst estate was sold at auction to billionaire Nicholas Bergruen for $63.1 million, but last year, Fashion Nova owner Richard Sagian sold developer Nile Niami’s mansion, The One ( (originally listed at $295 million) sold for $141 million.

One of the largest private land deals in recent times in Los Angeles was the sale of the late Paul Allen’s Enchanted Hill estate in Beverly Hills. In December 2021 he sold his 120-acre estate for $65 million.

Imagine owners building their own private golf courses or planting vineyards, says Senderos Canyon’s Hagani. “This could really be the ultimate playground for the wealthy.” said. “Having sold his 33-acre property in Pennsylvania to his NHL hockey owner, he set up his ATV trail on his 33 acres. please look.”