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$1 Billion Listing Sells at $100K

At the top on Tower Grove in Beverly Hills sits a large plot of undeveloped land with massive panoramic views. Once listed for $1 Billion, the 157- Acre property called “the Mountain” sold last week for $100K at a foreclosure auction. Purchased in 2004 for $8.4M by a trust. The trust was founded to manage the estate of Herbalife CEO Mark Hughes. Chapter 11 bankruptcy was declared last month leading the Hughes estate to force a foreclosure auction to either sell the property in hopes of recouping its losses or buy it back, likely losing the $200 million they were owed in the process.

 

 

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