Bel-Air Canyon Land Hits the Market for $125 Million

12:14 PM PST 07/17/2013 by Austin Siegemund-Broka

The property, a 258-plus acre spread, is Los Angeles' most expensive public listing.

A Bel-Air property has just been listed for $125 million -- and it doesn’t even include a house.

The parcel is a whopping 258-plus acres of open land. Listed Monday at 0 Bel Air Canyon, the property stretches between Linda Flora Drive and Sepulveda. Curbed LA reports that it represents more than 6 percent of the total land in the Bel-Air neighborhood.

It’s also the priciest property publicly listed in Los Angeles (surpassing a residence known as the Beverly House, listed at $115 million). A smattering of Los Angeles properties are floating asking prices above $100 million, such as the Fleur de Lys mansion up for $125 million and the historic Owlwood Estate, said to be going for $150 million.

The Bel-Air land offers "ultimate and limitless development opportunity," reads the listing. Some observers think that could mean building a massive housing compound, which could bring controversy to the area, as Saudi Prince Abdulaziz ibn Abdullah ibn Abdulaziz al Saud has planned in Benedict Canyon, drawing the ire of CAA co-founder Michael Ovitz and others. The buyer also will join a new neighbor — Rupert Murdoch purchased the nearby Moraga Vineyards Estate in May.

The listing is held by Aaron Kirman of John Aaroe Group.

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