n Bel-Air, a Patch of Dirt Asks $60 Million
Los Angeles developer Eri Kroh said he spent over a decade lining up permits and plans to build an estate on the 30-acre property.
In the posh Bel-Air district of Los Angeles, a 30-acre parcel is listing for $60 million. Photo: The Agency 10 Comments By Katherine Clarke March 12, 2019 10:52 a.m. ET
In Los Angeles, a well-positioned patch of dirt is asking $60 million.
Located in Bel-Air on a private road near Sunset Boulevard, the 30-acre property shares a hillside with a neighboring vineyard. The seller, Eri Kroh of Sandstone Properties, said he spent more than a decade lining up permits and plans to build an estate that will include a long driveway leading to a roughly 40,000-square-foot mansion, full-size basketball and tennis courts, a bowling alley, indoor and outdoor pools, a ballroom, a subterranean garage for 11 cars, a movie theater, a wine cellar and staff quarters. The property could also have its own vineyard, should a new owner decide to plant vines on its portion of the hillside.
Mr. Kroh said he’s already begun construction, but wants to bring in buyers who can customize the property to their specifications. “The heavy lifting is completely done. The fun part is what’s left,” he said. “I think any buyer would like to use their own creativity and finishes.”