$22 Million Land Leaves Buyers Wondering

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It would seem like that expansive 138-acre lot next to the Hollywood sign is still on the market. Although back in 2008, when everyone was stilled recovering from sticker shock, listing price was at $22 million, real estate agent Ernie Carswell has said there had been four offers submitted- going on to say that all were well above asking price. And perhaps it has finally been sold, or not. The question remains as to why it is not longer listed in the MLS and what is going on?

Carswell was quoted, “There is a potential purchaser who has negotiated a one year due diligence term, which is more than halfway finished. Meanwhile, for the possibility that the initial purchaser does not follow thru, the sellers are continuing to show the property, although we have not published it in the MLS. If by end of February there is no significant move forward, then the property will return to market, at a lower offering price, and we will begin a full marketing effort.”

I guess it wasn’t an easy flip for the original buyers who had purchased the property back in 2002 for a minuscule $1.675 million. So if you did have your eye on this piece of California landscape don’t fret, come February there could still be a chance to snag it for yourself.

Via: Curbed LA

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