At $1 billion, the most expensive piece of land ever to be marketed in Los Angeles offers a luxury development opportunity that will need not only deep pockets, but some serious mathematical acrobatics to make it worthwhile, local experts say.
There are conceivable ways a residential developer could buy "The Mountain," a 157-acre summit in the iconic 90210 ZIP Code in Los Angeles county, and build it up into a community of mega-mansions only billionaires could afford, say several developers and local real estate experts. But the current zoning and city records documenting past efforts to build on the land reveal just how hard it will be to get the math right.
