Published Jul 30, 2018 at 1:38 PM | Updated at 12:24 PM PST on Feb 25, 2019
A 157-acre plot of land known as "The Mountain" is touted as the finest undeveloped plot of land in Los Angeles. It offers stunning 360-degree views of Southern California, including the distant Santa Catalina Island and well beyond downtown Los Angeles.
It hit the market in the summer of 2018 with a staggering list price of $1 billion. In February 2019, the sprawling patch of land at 1652 Tower Grove is listed at $650 million. The land has been owned by trusts, entities and celebrities, including talk show host and game show producer Merv Griffin, since the 1970s, according to Forbes. It was purchased in the 1970s by the sister of the shah of Iran before being sold to Griffin, according to CNBC. The property was never developed until recently, when Secured Capital Partners provided the needed infrastructure. It's expected to attract a buyer seeking to build a sprawling private compound.