In high-end real estate, it’s all about the address.
Which is why a huge sandpit in the salubrious Los Angeles’ neighbourhood of Bel Air, connected to a Colombian billionaire, is commanding $US45 million ($66.8 million).
The vendor, a Florida-based firm controlled by one of the world’s richest men, has been looking for a buyer since May last year, when the dust bowl was launched on the market for $US34 million ($48.7 million).
Although no ink has been scribbled on a sale contract, the price last month was bullishly lifted by another $US11 million ($15 million), according to The Real Deal.
The half-hectare site at 805 Nimes Place, high on a hill, captures views from the downtown LA CBD to the ocean.
Agents have positioned an outdoor lounge chair and coffee table on a slab in the photos, to lend a bit of life and colour, but it is doubtful deep-pocket buyers will need that spark their imagination.
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The site, with retaining walls, will be sold with plans for two homes, for prestige buyers to take their pick from.
One is a 2500-square-metre stone and travertine mansion designed by architects Woods + Dangaran, who are behind breathtaking builds from Palm Springs to Encino and Las Vegas, and are prolific across Los Angeles.
Another is a 4080-square-metre trophy estate by BULLI Architecture + Development.
Bel Air is the postcode of choice for some…
