The First $1 Billion ‘Residential’ Parcel Listing in Beverly Hills

A 157-acre parcel of land is Los Angeles’ first $1 billion listing.

The property is being called “The Mountain” because it sits on an expansive plateau overlooking Beverly Hills, and is situated at the highest point on the fabled 90210 zip code, the Los Angeles Times reported.

The property has a long and tangled history, and was once owned by Shams Pahlavi, sister of the Shah of Iran. Later, television magnate Merv Griffin bought the plot with plans to develop an extravagant home, complete with a helipad. Griffin never followed through with that scheme, and the land remains undeveloped.

Property records show it now belongs to a limited liability company associated with Victor Noval, son of Victorino Noval, a businessman and philanthropist convicted of mail fraud and tax evasion in 2003.