Slice of land from Jerry Perenchio portfolio hits market for $15M; mansion plans included

The 1.4-acre lot is part of the late media mogul’s portfolio of homes and property on the market, and includes designs for a 16K sf mansion

TRD LOS ANGELES /
Aug.August 21, 2019 03:00 PM
From left: Jerry Perenchio, architect William Hefner and renderings of the property (Credit: Getty Images, Redfin)
From left: Jerry Perenchio, architect William Hefner and renderings of the property (Credit: Getty Images, Redfin)

A land-only listing in Bel Air belonging to the estate of the late billionaire Jerry Perenchio has hit the market.

For $15 million, the buyer gets the 1.41-acre lot, along with plans to build a 16,000-square-foot mansion. The property is across Bel Air Road from Perenchio’s crown jewel, the massive Chartwell Estate. It remains on the market for a staggering $195 million.

Mansion plans for the vacant lot were created by architect William Hefner. Drew Gitlin with Berkshire Hathaway and Jeffrey Hyland with Hilton & Hyland have the listing.

The property includes a vineyard that Perenchio used on the eastern side of the winding road from his massive home. Perenchio, who was chairman and CEO of Univision, died in May 2018.

Perenchio purchased the Chartwell Estate from the family of Arnold Kirkeby, a hotelier and investor.

The two Bel Air properties are part of Perenchio’s sprawling portfolio in Southern California. Last year, his family listed another Bel Air mansion on a 1.3-acre property, which also features a vineyard. In Malibu, the Perenchios are also selling a 3,700-square-foot home, as well as about 40 acres of undeveloped land after the city purchased 30 acres from the portfolio in April 2018.

The market for land-only listings, along with luxury homes, has not been strong in Los Angeles lately. Most recently, the 157-acre Mountain of Beverly Hills, which went on the market last summer for $1 billion and failed to sell after a $350 million price chop, sold at foreclosure auction this week for $100,000.


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