The late Paul Allen’s 120-acre plot of land in Beverly Hills gets a massive price chop. Sound familiar?

The undeveloped land hit the market last year for $150M, just weeks before the 158-acre "Mountain of Beverly Hills" listed for $1B

Los Angeles /
Oct.October 03, 2019 03:47 PM
Late Microsoft cofounder Paul G. Allen and the property (Credit: Redfin and Getty Images)
The late Paul G. Allen — Microsoft co-founder — and the property (Credit: Redfin and Getty Images)

A massive undeveloped plot of land that had been owned by late Microsoft co-founder Paul Allen just got a 27 percent price chop.

The 120-acre “Enchanted Hill” in Beverly Hills is on the market for $110 million, according to Redfin.

The property originally listed for $150 million in July 2018. Jesse Lally and Zach Goldsmith of Hilton and Hyland hold the listing. Allen died in October 2018 at 65.

The original listing came just two weeks before the now infamous Mountain of Beverly Hills hit the market. That 158-acre plot of dirt was offered at $1 billion. It took a $350 million haircut months later. It ultimately sold for just $100,000 at a foreclosure auction in August because the owner had accrued massive debt on the property.

Allen bought his sprawling property at 1441 Angelo Drive in 1997 for $20 million. His goal was to build a residence on the grounds, which comprise five flat lots. He demolished a Wallace Neff-designed, 20-bedroom mansion and installed a one mile-long private street but never developed the property.

It does include separate gated entrances and 360-degree views stretching from downtown to the ocean.

The listing is being billed as “the last of its kind,” offering buyers the chance to create their own estate with room for a fitness and wellness center, several guesthouses, equestrian facilities, winery or a sports arena. Allen was the owner of the NBA’s Portland Trail Blazers and NFL’s Seattle Seahawks.

He was estimated to have had a net worth of $20.1 billion at the time of his death, according to Forbes.


Related Articles

arrow_forward_ios
Megan Fox and Machine Gun Kelly (Getty)
Megan Fox, Machine Gun Kelly take $30K a month rental
Megan Fox, Machine Gun Kelly take $30K a month rental
Renderings of One Beverly Hills and Beny Alagem. (One Beverly Hills, Getty)
Beny Alagem’s $2B Beverly Hills project gets go-ahead
Beny Alagem’s $2B Beverly Hills project gets go-ahead
Sumner Redstone (Getty) with 31 Beverly Park Terrace (Redfin)
Sumner Redstone’s Beverly Park estate flies off market for $27M
Sumner Redstone’s Beverly Park estate flies off market for $27M
Michael Nourmand (Facebook via Nourmand & Associates)
Compass tries to recruit brokerage owner Michael Nourmand
Compass tries to recruit brokerage owner Michael Nourmand
Braemar Hotels & Resorts Chairman Monty Bennett with Mr. C Beverly Hills. (Ashford, Mr. C)
Mr. C Beverly Hills sells to Monty Bennett’s Braemar Hotels
Mr. C Beverly Hills sells to Monty Bennett’s Braemar Hotels
Tony Gonzalez and 807 Cinthia Street (Getty, Redfin)
NFL great Tony Gonzalez scores $21M mansion sale
NFL great Tony Gonzalez scores $21M mansion sale
Corcoran Global Living CEO Michael Mahon and the Beverly Hills location. (Corcoran, JLL)
Corcoran sets up shop in Beverly Hills
Corcoran sets up shop in Beverly Hills
Rendering's of Byron Allen's future mansion. (Getty, Landry Design Group)
Media mogul Byron Allen is building a Beverly Hills megamansion
Media mogul Byron Allen is building a Beverly Hills megamansion
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...