• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

Vacant lot in neighborhood of mansions lists for $24M

Hilton & Hyland's David Kramer, Vista 4 LLC's Todd De Mann and 74 S. Beverly Park in Beverly Hills (Zillow, David Kramer Group)
Hilton & Hyland’s David Kramer, Vista 4 LLC’s Todd De Mann and 74 S. Beverly Park in Beverly Hills (Zillow, David Kramer Group)

A month after an undeveloped piece of land sold for $28 million in Beverly Hills, an empty, flat piece of land located a short distance down the street has gone on the market in the same price range.

The new listing, 74 Beverly Park Lane, listed for nearly $24 million on Oct. 6. The vacant lot comprises just under 2 acres. Listing agent David Kramer of Hilton & Hyland wrote that it is one of the few undeveloped parcels in an enclave where celebrities such as Adele recently bought Sylvester Stallone’s $58 million mansion. Billionaire Alec Gores built a custom home in the neighborhood, which he sold for $70 million this year, Kramer added.

“There have been custom homes built. But there has been no new spec home in Beverly Park for years,” he said.

Timing will be everything for the success of a sale for 74 Beverly Park Lane, said Stephen Shapiro, co-founder of Westside Estate Agency, a prominent boutique real estate agency that specializes in higher-end and ultra-luxe listings. He is familiar with the area, but not involved with this particular property.

“If you say, ‘Here’s a lot with a brand new house on it,’ this may be a problematic market,” Shapiro said of the slowing economy. “If you’re buying this lot and have to go through architectural, permitting and then construction, then it’s going to be three years until the house is completed. So you can be encouraged that the market will come back in a few years. It always comes back and it comes back higher than before,” Shapiro said.

The listing’s owner is a group named Vista 4 LLC. A grant deed signed in August 2022 listed Todd De Mann as the managing partner and development director. De Mann is chief executive of Paradigm Developers, which has worked on other projects in Beverly Park.

Kramer said that De Mann’s Paradigm Developers is working on 74 Beverly Park Lane, as well as nearby 73 Beverly Park Lane. The lots were formerly connected to what is now 76 Beverly Park Lane, which sold for about $17 million in 2011.

The three lots were owned by a member of the Saudi royal family. The former owner used the lots as a vacation home. Kramer said that 73 Beverly Park Lane is scheduled to come on the market in 2023.

Last Month, the vacant lot at 57 North Beverly in Beverly Hills sold for $28 million to an undisclosed buyer.

Read more
  • Billionaire Alec Gores sells 31K SF estate in Beverly Park
  • Vacant lot in Beverly Park trades for $28M
  • Villa Firenze cuts price by $41M

The post Vacant lot in neighborhood of mansions lists for $24M appeared first on The Real Deal Los Angeles.

Powered by WPeMatico

  • 11 October 2022
  • The Real Deal
  • Uncategorized
  •  Like
“Highest availability ever reported” for LA office space →← Another big apartment complex planned for Van Nuys
  • Recent Posts

    • Hoteliers sound the alarm on looming distress  May 24, 2025
    • Growth markets see retail boom even with tariff uncertainty May 24, 2025
    • Westchester resi project gets city OK after union drops objection May 23, 2025
    • WATCH: ‘Father of CMBS’ Ethan Penner to run for governor of California May 23, 2025
    • Fashion Island office fetches $756 psf May 23, 2025
  • Recent Comments

    • Archives

      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM