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Paul Allen's Enchanted Hill Sells for $65M
4 Oct
Summary
- Allen's 120-acre Beverly Crest property sold for $65 million.
- The land, named Enchanted Hill, was once listed for $150 million.
- The property remains largely undeveloped despite prime location.
Microsoft co-founder Paul Allen's expansive 120-acre estate in Beverly Crest, once listed for $150 million, has been sold for $65 million. The property, known as "Enchanted Hill," was acquired by Allen in 1997 for approximately $20 million with visions of an elaborate private estate.
Following Allen's passing in 2018, the undeveloped ridge-top land entered the market. Despite its prime location offering panoramic city and ocean views, and preparations like a private driveway and utility infrastructure, the grand mansion envisioned by Allen was never built.
The property's initial $150 million asking price was later reduced. Notably, Jeff Bezos reportedly attempted to purchase it for $90 million in early 2020, though that deal ultimately fell through before the final sale.
Enchanted Hill's unique history dates back to the 1920s, with Hollywood figures Greta Garbo, Frances Marion, and Fred Thomson associated with the land. It represents a significant piece of Allen's real estate legacy, highlighting the enduring allure and value of large, undeveloped parcels in desirable Los Angeles locations.
