Cision PR Newswire
Auction Set for 260-Acre Senderos Canyon, Known as Greater Los Angeles' Largest and Last Private, Undeveloped Parcel, Encompassing 6% of Bel Air's Land
News provided byParamount Realty USA
Jan 24, 2023, 2:00 PM ET
Bidding Begins Today for the $125 Million Trophy Parcel, Represented by Melinda & Scott Tamkin of The Tamkin Real Estate Group at Compass and Auction House Paramount Realty USA
LOS ANGELES, Jan. 24, 2023 /PRNewswire/ -- Senderos Canyon, the single most monumental land opportunity in Los Angeles comprising approximately 260 sweeping, pristine acres in the heart of Bel Air, is now listed for sale by auction via Paramount Realty USA, a prominent national auction firm. Bidding is set to begin today, January 24, 2023 at 12pm PT, through the auction deadline of 4pm PT, March 15, 2023. Represented by Melinda and Scott Tamkin of The Tamkin Real Estate Group at Compass, Senderos Canyon is situated across three contiguous undeveloped parcels representing an astounding six percent of Bel Air's total land area. This rare, untouched canyon is also known as the last available parcel of land of this size in the Greater Los Angeles area. Such staggering scale in an unrivaled position nestled in Los Angeles' most prestigious residential enclave presents the unique opportunity to craft the legacy and landscape of Bel Air.
The minimum auction bid is $39 million, nearly 70 percent below its original $125 million asking price. For any purchaser who closes on or before March 31, 2023, a $2 million credit will be awarded. Property is subject to prior sale allowing the seller to potentially accept a compelling bid received in advance of the bid deadline.
"Land is king," said co-listing agent Scott Tamkin of Compass. "With the opportunity to establish a legacy for generations to come, the acquisition of Senderos Canyon presents a once-in-a-lifetime chance to own an unrivaled crown jewel portfolio asset in coveted Bel Air. In the immediate vicinity, there are currently eight homes for sale ranging from $50 million to $150 million, with the largest parcel being only five acres. At over 260 acres, Senderos Canyon will be offered at an astonishing minimum bid with vast possibilities for the amazing property."
"We are thrilled to bring this trophy land to auction," said Misha Haghani, owner of auction house Paramount Realty USA. "This exceptional property, like art, is truly unique and irreplaceable. It is quite fitting that an offering of such magnitude is being made available on the centennial anniversary of Bel Air."
This tremendous offering of unprecedented acreage in Bel Air presents a boundless scope for development and re-imagination. A truly versatile landmark parcel, Senderos Canyon offers a diverse set of residential, commercial or hospitality development opportunities. Its lush grounds offer a blank canvas for a luxury residential enclave, hotel or a range of concepts such as a golf course, equestrian center, wellness center, sports campus/facility and more.
Located at the Santa Monica Trailhead and bordered by Mulholland on the north, Moraga Drive on the south, Bel Air Crest on the west, and Linda Flora Drive on the east, Senderos Canyon is centrally located minutes from Beverly Hills and proximate to several shopping, dining and entertainment districts.
Senderos Canyon is available for preview by appointment only and upon demonstration of sufficient proof of funds. To submit a written bid, schedule a tour or to learn more information, please visit Paramount Realty USA's Senderos Canyon auction page, call 212-867-3333, or email firstname.lastname@example.org. For general auction information, please visit www.prusa.com.
The Tamkin Group at Compass specialize in real estate services acting on behalf of clients in the buying and selling of homes and income properties in the greater Los Angeles area. As lifelong Los Angeles residents, their deep understanding of real estate in the area, along with their combined real estate experience make them the best choice buying or selling property in Southern California. DRE# 01336758/01336759
Paramount Realty USA is a prominent national real estate auction firm. The team has marketed, sold or advised on over $2 billion of real estate and mezzanine interests throughout North America by auction. The firm has auctioned luxury, residential and commercial property for high-net-worth individuals, private equity firms, developers, family offices, lenders, government agencies, and other owners of real estate. Visit www.prusa.com for more information.
Senderos Canyon | Over 260-Acres in Bel Air | Credit: Sibylle Allgaier Heliphoto
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SOURCE Paramount Realty USA