Victorino Noval and the Mountain of Beverly Hills (Credit: Getty Images and Redfin) On Thursday, the enormous plot of land known as The Mountain of Beverly Hills was expected to sell to the highest bidder at an auction in in Pomona. But just as the initial $1 billion listing for the 157-acre property fizzled, the […]
From bankruptcy to bidding war? 157-acre Mountain of Beverly Hills to be sold at auction
1652 Tower Grove Drive or “The Mountain” (Credit: Realtor and iStock) It has been a little over a year since the Mountain of Beverly hit the market for $1 billion, but despite a dramatic price cut earlier this year, there still hasn’t been a buyer. But that could soon change. The 157-acre plot of land […]
From billion to bankrupt: Owner of The Mountain of Beverly Hills files Chapter 11
Victorino Noval and the Mountain of Beverly Hills (Credit: Getty Images and Redfin) The owner of The Mountain of Beverly Hills mega-listing has filed for bankruptcy protection, The Real Deal has learned. The Chapter 11 proceeding marks the giant bubble bursting on the 157-acre spread of undeveloped land, listed last July for a record-breaking $1 […]
The Mountain of Beverly Hills just got a $350M price chop
1652 Tower Grove Drive (Credit: Realtor) UPDATED on Feb. 21, at 1:30 p.m.: When the so-called “Mountain of Beverly Hills” hit the market seeking a record-breaking $1 billion last summer, it drew snickers from real estate industry experts who balked at the price tag of the undeveloped land. Now, less than seven months later, its […]
The Mountain of Beverly Hills — once marketed at $1B — risks foreclosure by end of month
Tower Park Properties’ Victorino Noval and the Mountain of Beverly Hills (Credit: Getty Images) The long and complicated road to sell The Mountain of Beverly Hills has taken another sharp turn. After a splashy entrance last summer, when the massive property was marketed for a whopping $1 billion, it was chopped down to $650 million earlier […]