After $50 Million Price Cut, a Vast Bel Air Property May Still Struggle

Senderos Canyon, a roughly 258-acre tract land on the edge of Los Angeles’s Bel Air neighborhood, came on the market in 2013 with an asking price of $125 million. Three years later, without any takers, the owner delisted the property. “As far as I know, there were no offers, and nothing was serious enough to make it go anywhere,” says Scott Tamkin, a broker at Compass.

On Monday, the property came back on the market with a heavily reduced, $75 million price tag, which comes to about $291,000 per acre. “If you’re looking at a map of the area and zoom out, you can see this raw parcel of land with everything built up around it,” says Tamkin, who is representing the listing with his wife Melinda Tamkin. “It’s really exceptional.”