The Mountain, a 157-acre property in Beverly Hills, was originally listed for $1 billion. It just sold at auction for a measly $100,000.
"The Mountain," a 157-acre property at the highest peak in Beverly Hills, has finally sold at foreclosure auction — to the lender for $100,000, The Wall Street Journal reports. The lenders had roughly $200 million in debt on the property, which any other buyer would have had to pay off, according to The Journal. The listing received a massive $350 million price chop in February, bringing its asking price down from $1 billion to $650 million.
"The Mountain," a 157-acre property at the highest peak in Beverly Hills, has finally sold at foreclosure auction — to the lender for $100,000, The Wall Street Journal reports. The lenders had roughly $200 million in debt on the property, which any other buyer would have had to pay off, according to The Journal. The listing received a massive $350 million price chop in February, bringing its asking price down from $1 billion to $650 million.
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