Inna Ivchenko, Realtor® • Green • GRI • HAFA • PSC Calabasas CA (Barcode Properties)

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Rainmaker
695,897
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Will it be close to a " Dollar Store"?

Aug 31, 2018 02:55 PM
Rainer
203,632
Caroline Gerardo
Eagle Home Mortgage, LENNAR HOMES Home Loans - Newport Beach, CA
C. G. Barbeau the Loan Lady

Amazing views of LA, six "buildable" lots BUT there are obstacles that Merv Griffin and Tom Cruise found stopped them- California has water shortage and permits to build need access, and because this is a hilltop also fire prevention plans. Is there another Shah or member of Royal Family who only cares about the 90210 zip code for status and likes the idea of building a compound on the hill top? By they time they are done they may need 2 billion. Okay who has this cash - Sergey Brin, Larry Page or Jack Ma - I think the market is soft so I doubt any of those would take the risk. This is a prestige property for bragging rights.  I don't think it makes sense to fence and build six  60 million dollar houses.  What are others thoughts ? Is Aron Kirman on Active Rain- let's ask him to chime in. What a feather in his cap if he closes this deal!

Aug 31, 2018 01:47 PM
Ambassador
2,896,458
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I think Endre Barath, Jr. has toured that property. It's definitely high profile, Inna!

Aug 31, 2018 05:12 PM
Rainmaker
3,046,327
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hello Inna - an asking price remains just a price. We shall see. 

Aug 31, 2018 12:48 PM
Rainmaker
1,156,076
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I think I saw somewhere that this has been listed for quite some time now.  Personally for me, the traffic to get there is a bit intense and my helicopter is in the shop at the moment, so I won't be placing an offer on it.

Aug 31, 2018 04:35 PM
Rainmaker
2,697,267
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Lifestyles of the rich and famous. How the less than 1% live. 

Aug 31, 2018 02:53 PM
Rainer
89,482
Jon K. Judd
Keller Williams Realty - Central Delaware - Dover, DE
GRI, e-PRO, SFR, Delaware Homes

Guess if I had a spare Billion dollars in my account, I'd give it consideration... Perfect place to put up a few chicken coops and maybe raise some pigs or sheep... though since all that isn't likely... it would be nice to send a referral buyer... :)

Aug 31, 2018 11:46 AM
Rainmaker
1,423,950
Bob "RealMan" Timm
Tivoli Custom Homes - Minot, ND
Bob Timm, Project Coordinator for Tivoli Homes

I've got my checkbook out Inna Ivchenko , do I make that out to you personally?

Aug 31, 2018 12:43 PM
Rainmaker
1,297,693
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

When I first glanced at your question, I thought it was a MILLION dollars, and I was thinking, OH MY! WHAT A STEAL! And then I saw a "B". I can't make any judgments on the price but wow, what a piece of property.

Aug 31, 2018 11:43 AM
Rainmaker
1,339,984
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

How much commission? :)

 

Aug 31, 2018 05:41 PM
Rainmaker
4,048,686
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

InnA,

There are 2208 billionaires in the world IN 2018 according to Knight Frank wealth report..  Those are the one who could afford it, or there could be a partnership between them.  That being said a great number of billionaires have made their money in finance and in real estate.  This means they are number savvy, and if the numbers pencil out and the city helps...it may be. I would have to see the numbers...A

Aug 31, 2018 04:12 PM
Rainmaker
729,313
Diana Zaccaro
Tropical Realty Beachside brokered by eXp - Cocoa Beach, FL
Your Brevard County, Florida coastal connection!

Everything is negotiable and there is a property for every buyer and a buyer for every property.

But this is a great question for "The Land Man".

Endre Barath, Jr. 

Aug 31, 2018 03:54 PM
Rainer
137,259
Don Baker
Lane Realty - Eatonton, GA

I don't really have thoughts on properties that are out of my market beyond of course the "just wow" at the price tag.

Aug 31, 2018 03:12 PM
Rainmaker
4,962,991
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I hope you represent the purchaser.

Aug 31, 2018 02:51 PM
Rainmaker
918,970
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Donald T thinks he can afford 2.8 parcels.

Costoso. Amiga

Aug 31, 2018 02:48 PM
Rainmaker
790,134
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

It's is California after all - pretty much says it all :)

Aug 31, 2018 02:30 PM
Rainmaker
1,259,383
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

The seller would probably quadruple his or her earnings if they subdivided into several more approachable properties.

Aug 31, 2018 12:01 PM
Rainmaker
929,022
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Inna, isn't that a nice round number. I can see a single buyer at a much reduced price only because it'll be very hard for six billionaires to play a friendly game of King of the Mountain in such an exclusive environment.

Aug 31, 2018 11:59 AM
Rainmaker
2,677,822
Richard Weeks
Dallas, TX
REALTOR®, Broker

I would think the buyer pool is not that deep.

Aug 31, 2018 11:51 AM
Rainmaker
347,566
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I will be curious to see if anyone jumps at that price.

Aug 31, 2018 11:51 AM
Rainmaker
751,832
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

My thoughts, Inna?

It is slightly out of my price range.  ^_~

Hopefully, it will sit on the market and then they will call you to list it, Inna!

Hope you have a great holiday weekend with your family!

Aug 31, 2018 11:45 AM
Rainmaker
2,721,350
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I can't begin to opine because I just don't deal in those kinds of numbers or markets that see them. But if I sold it, I wouldn't mind the commission.

Aug 31, 2018 11:37 AM
Rainmaker
921,239
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

Amazing. $$$$$$$$$$$$$$$

I wish I had a buyer or this listing. :)

Sep 01, 2018 06:38 AM
Rainmaker
523,762
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Does it include mineral rights?

Aug 31, 2018 05:09 PM
Rainmaker
1,449,635
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Nice party area that looks like it has a golf course on it. I just read something today by Gwen Banta that LA prices are dropping. Yeah, seems like it.

Aug 31, 2018 04:41 PM
Rainmaker
2,355,099
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

worth every penny assuming it can be developed so as to give a return on investment. There is no more/new land being added to this zip code. Consider Real Estate surrounding Disneyland Anaheim. IF it was ever was to become available (fat & rare chance), it would be for an outrageous price take-it or leave-it. There are many billionaires that would take it as a holding or even a write-off knowing that it will never decrease in value. Such is the case with this Beverly Hills shangra-la

Aug 31, 2018 02:40 PM
Rainmaker
4,604,242
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

one can't give an opinion unless one knows the zoning....size of lots...how many lots to be designed in that tract.... the end product to be built and the fair market value of the end product of the home to be built.... then I'll give you an opinion!!!! until then, no one can do that....

the view is worth a bundle!!!  the homes will be of the largest magnitude of the area..... they'll demand the highest sale price in the area.... sounds like it may not be such an outrageous asking price for the tract of land.... 

Aug 31, 2018 11:45 AM
Rainmaker
576,502
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

Someone will buy this property. The purchase price is yet to be determined. 

2500 a SQFT to 3500 a SQFT Price Range on land WOW!

AS my Mother would say Thats Really Something!

Endre Barath, Jr.  We need to read your post!!! 

Sep 01, 2018 01:43 AM
Rainmaker
672,586
Signature Homes & Estates
Signature Homes & Estates - Gilroy, CA
"Our Performance Will Move You!"

Nice land bank!  I wonder if it was subdivided into 10 parcels could it cumulatively fetch more money?

Aug 31, 2018 08:43 PM
Rainmaker
803,735
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Beautiful piece of property. 

Aug 31, 2018 08:41 PM
Ambassador
2,287,830
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   There's not enough length to land my personal Boeing 757, so I'll pass.

Aug 31, 2018 06:41 PM
Rainmaker
2,544,478
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Inna Ivchenko the land should be split to build a few homes on it. 

Aug 31, 2018 05:38 PM
Ambassador
3,977,414
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Location, location, location How many multi-million dollars estates can be built there is the question?

Aug 31, 2018 04:01 PM
Ambassador
3,727,963
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Sounds like a nice listing.

Aug 31, 2018 02:26 PM
Rainmaker
2,935,192
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

It's LA! What does my agent Endre Barath, Jr. think?

Sep 01, 2018 06:10 AM
Rainmaker
2,823,909
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It sure takes a lot of 200-300k  sales here in NH to add up to that

Sep 01, 2018 05:38 AM
Rainmaker
330,230
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Personally, I wish them the best and hope they find a buyer.  Given there are obstacles but one never knows who might want this unique parcel of land. 

Aug 31, 2018 08:17 PM
Rainmaker
2,962,877
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Inna, I am very familiar with this lot, since my listing was just below it on Clearview Drive that I listed at $22+million and sold it last year... with that said I might disagree with your comment to Michael Jacobs  I know more about this land than you want to know:) BTW I wrote a  watered down blog post about it, feel free to check it out, Endre

Sep 01, 2018 11:51 PM
Rainmaker
699,845
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

I'm not biting.

Sep 01, 2018 12:10 AM
Ambassador
4,293,726
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Well, a company becomes a trillion dollar company so, Inna Ivchenko - this can happen.

Aug 31, 2018 11:41 PM
Rainmaker
875,316
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

This is old news: I already commented on it several weeks ago

Aug 31, 2018 09:55 PM
Rainmaker
732,140
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Wow. That's quite the price tag. With 6 premium building, lots and 157 acres total, perhaps a wealthy investor will buy it to build a home on and sell off the other 5 parcels. -K

Aug 31, 2018 08:18 PM
Rainmaker
4,634,490
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't have any thoughts about this. It's not something I can understand.

Sep 01, 2018 06:27 AM
Ambassador
1,514,065
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Makes me glad to be in Oklahoma.

Sep 01, 2018 05:22 AM
Rainmaker
3,832,766
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Wow, and that price tag is ONLY for land?   

Sep 05, 2018 05:32 PM
Rainmaker
700,266
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Over the top... of the hill?

Sep 02, 2018 06:46 PM
Rainmaker
2,850,007
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow, hope you get that commission.

Sep 02, 2018 03:17 PM
Rainmaker
613,238
Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

My first thoughts were, "it's just an extra zero or two."

When I was working with investors and hedge fund managers during the economic downturn a decade ago I saw a very large amount of money chasing too few properties. These were the days when more than 2,000 homes were going to foreclosure auction each day. When one fund manager came into the Phoenix area with $2 billion to invest, there were days in which his group could have purchased every home that had potential equity. But they didn't. Each property had to stand on its own financial merit.

The fact that one billion is hard to wrap our minds around might be because the number is so large. In a place where the property would be unaffordable for most of us mortals, it doesn't mean that its unaffordable to the super-rich. It's probable that the price tag is not without sound financial merit; it's just wider than average. 

I do think it's overpriced for today's dollar. It may be the actual value though, in the not too distant future.

Sep 02, 2018 07:18 AM
Rainer
195,976
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

Looks very nice. A bit out of my comfort zone, but if I had the means, I may be interested.

Sep 01, 2018 07:15 PM
Rainmaker
1,014,789
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Hmmm...trying to calculate the referral fee if I sent you the buyer...

Sep 01, 2018 03:17 PM
Rainer
105,639
Anthony Kirlew
Keller Williams Realty East Valley - Gilbert, AZ
Helping You Make Fiscally Sound Choices

At first glance, $1B sounds like a lot of money, but not knowing that market, I can't say whether it's priced right, too high, or too low. 

 

I am curious to know what local market experts say about the price.

Sep 01, 2018 02:37 PM
Rainmaker
4,315,135
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I hope i can send you a buyer referral

Sep 01, 2018 02:29 PM
Rainmaker
1,778,487
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Big Time 

Sep 01, 2018 12:11 PM
Rainmaker
659,652
Richard Bazinet /MBA, CRS, ABR
Realty ONE Group - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

What the market can bear. Lets see if it sells.

Sep 01, 2018 11:06 AM
Rainmaker
975,333
Joyce Marsh, Daytona Beach Florida Real Estate
JOYCE MARSH REAL ESTATE LLC - Daytona Beach, FL
Daytona Beach Area Coastal Homes and Lifestyles

They’re not making any more land and we all know about location location location. Interesting to see what happens. 

Sep 01, 2018 10:02 AM
Ambassador
3,786,171
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

It's certainly an impressive property with a storied history.  But it's just the asking price...time will tell. I'll check my database.

Sep 01, 2018 07:39 AM