A mansion will rise: Massive Bel Air development site lists for $60M
Developer Eri Kroh is selling his 30-acre spread, fully entitled for a behemoth of a home
A massive piece of land in Bel Air that is entitled for a mansion up to 40,000 square feet is now for sale. The price, $60 million.
Eric Kroh, founder of Sandstone Properties, is selling his 30-acre spread, the latest in a series of pricey land-only listings to come up for sale in Los Angeles.
This one took Kroh over a decade to secure the permits, listing brokerage the Agency announced in a release. The Wall Street Journal reported the story first.
An LLC tied to Kroh paid $6 million for the property in 2005, records show. Kroh told the Journal he’s already begun construction on the home, but wants to leave the final finishes to the future buyer. Kroh’s firm, meanwhile, specializes in multifamily projects. In June, Westwood-based Sandstone proposed building two residential towers — one 25 stories the other 27 stories — and a total of 610 units in Warner Center.
Once completed, the Bel Air mansion could feature elaborate amenities such as a bowling alley, indoor and outdoor pools, security gates and regulation basketball and tennis courts. A private vineyard could also be built on site.
Renderings portray a two-story residence with lush landscaping, a semicircle-shaped infinity pool with two hot tubs, and a lengthy driveway with several water features.
Mauricio Umansky and Lynn Teschner of the Agency have the listing.
Less than two months ago, another empty plot of land in Bel Air hit the market for $150 million. The 10.6-acre spread comes equipped with permits allowing a 60,000-square-foot estate.
Still, both listings pale in comparison to the so-called “Mountain of Beverly Hills.” The Beverly Hills Post Office property spans 157 acres of land and is on the market for $650 million, recently reduced from a record $1 billion.