Former Google CEO billionaire Eric Schmidt is the new King on top of California’s enchanted hill – one of the most prominent properties in Los Angeles.
An opportunity to own one of the most unrivalled properties ever available, just above the heart of Beverly Hills, has now officially closed. Yes, it is the Enchanted Hill Estate.
Why do you ask?
The onetime site of a famed Wallace Neff home built for Oscar-winning screenwriter Frances Marion and silent film cowboy Fred Thomson — has just sold for $65 million.
Enchanted hill — located in Beverly Hills at 2001 Benedict Canyon Drive, offers 120 acres of land and is just a few minutes from The Beverly Hills Hotel and Rodeo Drive.
It is ideal for a millionaire or billionaire who seeks the ultimate in privacy and security or to create a family compound with five building sites.
Even though it initially looks like a vast golf course, the extent to how big this property is – is truly eye-opening.
The former Google CEO Eric Schmidt snapped up the last significant piece of undeveloped Beverly Hills real estate. But he didn’t go down without a fight.
This grand property has belonged to several well-known figures in the Los Angeles community before now, and its previous owner had big plans for the space before things turned for the worst.
Some 25 years ago, Microsoft co-founder Paul Allen doled out $20 million for a somewhat legendary Wallace Neff-designed house perched along a prominent ridge in the mountains high above Beverly Hills.
The tech billionaire subsequently — and controversially — razed the entire estate to build an extravagant compound of his design.
For whatever reason, those plans never came to fruition, and the estate remains vacant to this day.
In 2019, it returned to the market with a new price tag of $110 million. The following year, The Wall Street Journal reported that Amazon’s Jeff Bezos had purchased Enchanted Hill for $90 million, but ultimately the deal fell through.
It then dropped to $95 million, and according to The Wall Street Journal, the former Google CEO and prolific real estate investor paid the discounted, but still huge, a sum of $65 million.
What a bargain!
Some Architects are already designing some very futuristic and sustainable concepts. For example, Architect Alex Nerovnya has designed some ideas that look pretty out of this world.
One thing for sure is that I am looking forward to seeing what will become of the green island perched on the hill.
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