Billionaire Jerry Perenchio’s Vineyard, Located Across From $245M Chartwell Estate, Hits the Market at $20M

Published: November 6, 2018 | By: American Luxury Staff

Chartwell’s vineyard has come up for sale. The property—situated across Bel Air Road from the famous estate of late producer Jerry Perenchio—would add another 1.4 acres to Chartwell for the right buyer, and a potential private viniculture label to boot. It would also add $20 million to the purchase price of the estate; despite a recent price reduction, Chartwell’s ask is still deep into nine figures, and currently sits at $245 million.

An additional 20% to buy a Bel Air vineyard across the street might sweeten the deal and help sell Chartwell, though. The home hit the market a few months after Perenchio’s death and made headlines at $350 million. The recent price cut was $105 million, almost a third off the original ask.

Even at $245 million, Chartwell could be a tough sell; the current real estate market doesn’t favor the Olympian properties that have been offered for sale over the past few years, sometimes selling at less than half of their inflated asking prices. But an unexploited 1.4-acre lot overlooking some of the best views in greater L.A. will certainly stimulate the salivary glands of many a real estate developer.

A forward-thinking personage with deep pockets might snap up both, as the historical importance of each property is significant. Chartwell is widely known as a shooting location for ‘The Beverly Hillbillies’, and musician Sly Stone lived in a home that once occupied the vineyard lot.

3753 November 6, 2018 Real Estate November 6, 2018