Jeff Bezos Pulls Out of Purchasing Paul Allen's Beverly Hills Land

In February, Amazon CEO Jeff Bezos reportedly purchased a sprawling 120-acre lot previously belonging to late Microsoft cofounder Paul Allen. Now, according to the Los Angeles Times, that deal has fallen through.

At the time, the Wall Street Journal reported that Bezos had dropped $90 million for the undeveloped lot of land “as an investment,” according to a source. Presently, an active listing for the property places its value at $110 million. Allen’s property comprises five lots and has quite the pedigreed past: It was previously owned by cowboy actor Fred Thomson and his Oscar-winning screenwriter wife, Frances Marion. Their famous neighbors included Greta Garbo, who nicknamed the hilltop estate “Enchanted Hill.”

According to the listing, the undeveloped property presents an opportunity for a new owner to “develop a single-family compound with multiple guest homes, a state-of-the-art fitness and wellness center, an entertainment complex, a sports arena, world-class equestrian facilities and winery or to subdivide and redevelop as Beverly Hills' greatest modern gated community with the same amenities.”

Allen’s original plan when he purchased the estate for $20 million in 1997 was to develop it as his own personal compound. Prior to his 2018 death, the multibillionaire razed the existing house and built a one-mile private street, as well as adding two guard-gated entrances and installing utilities.

Though Enchanted Hill is still on the market, another property left behind by Allen sold earlier this year: His 21,000-square-foot in Atherton, California went for $35.25 million in February. As for Bezos, though his bid for this property ultimately failed, he did go through with his purchase of David Geffen’s historic Beverly Hills mansion in February for a record-setting $165 million.

Originally Appeared on Architectural Digest