Saturday, July 28, 2018

"On a summit above Beverly Hills, a sweeping 157-acre property touted as the city’s finest undeveloped parcel is hitting the market with [a $1 billion] asking price"

LAT:

The mountaintop was once owned by a sister of the late shah of Iran, the Princess Shams Pahlavi, who had planned to build a lavish palace there.

The property was later acquired by talk show host-turned-TV-producer Merv Griffin, who commissioned prominent designer Waldo Fernandez to create a marble-and-limestone mansion. It was never built.

...

After falling into financial trouble, Griffin sold the mountaintop for more than $8 million in 1997 to Mark Hughes, the late founder of Herbalife