An undeveloped piece of land in the exclusive community of Beverly Park has sold for $28 million — or just under $10 million per acre.
The 2.9-acre property sold last week, according to listing sites, after hitting the market in March at a price tag of $29.5 million. The buyer was unknown.
The listing, from Campbell Wellman Properties agent Todd Stein, called the property “a blank canvas that is a once-in-a-lifetime opportunity to live in what many consider to be the most exclusive guard-gated community in the country.”
Beverly Park, in Beverly Hills Post Office, indeed ranks among the swankiest neighborhoods in Greater L.A. and beyond, with residents who have included Denzel Washington, Samuel L. Jackson, Dwayne “The Rock” Johnson, Wayne Gretzki and Saudi royals.
The neighborhood, which was later divided between South Beverly Park and North Beverly Park, was developed in the late 1970s as a community of privacy-focused, historic-feeling estates.
“It turned back the clock to the way Beverly Hills was in the ‘30s, ‘40s and ‘50s,” Brian Adler, one of the community’s developers, told the Wall Street Journal several years ago.
And while some early plots sold for under $1 million, prices in the neighborhood — which includes a 24/7 security staff and private gates for every home — have ballooned to eight figures. Last fall the sportswear founder Jeff Marine sold one 17,000-square-foot home for $29 million; in March, private equity mogul Alec Gores sold his French Normandy-style estate for $70 million.
The undeveloped property is located at 57 North Beverly Park, a flat piece of land with 450 feet of frontage and canyon and city views that the listing called “the crown jewel lot of North Beverly Park.” The seller was a Singapore-based firm that had purchased it in 2000 for just over $6 million, according to property records.
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