258-acre tract of undeveloped land in the swanky Bel Air area of Los Angeles has come up for sale with a sky high $125 million price tag, as was first reported this week by the kids at Curbed.
As best as Your Mama can tell from our brief and entirely unscientific research, the vast tract comprises two large parcels owned by the Beverly Hills-based Giro Properties who picked up both properties in at the same time late 2006 for and unknown amount of dough. Curbed calculated the two parcels represent a staggering 6% of the total of land in all of Bel Air and, according to the Los Angeles County Tax Man, the two parcels have a combined assessed value of $25,562,621with property taxes that rang up to more than $325,000 for 2012.
Both of parcels are mostly made up of steep and difficult to access chaparral covered hillside that could make development difficult. Plus, any houses (or whatever) that gets built on the property will most likely be in full view of the homes along the ridge lines that flank the rugged canyon property. Indeed, in case anyone cares, the property is overlooked by the $9 million mock-Med macmansion in the guard-gated Bel Air Crest community that new mommy Kimmie Kardashian bought in January (2013).
listing photo: John Aaroe Group