(CMR) Frank Schilling has put his prime Los Angeles property, Encinal Canyon Bluff, one of the largest landholdings along the famous Pacific Coast Highway, up for auction.
Reports are that Schilling has decided to sell the property, which is perched above the homes of celebrities, now that his primary residence is in the Cayman Islands.
“My energy and dreams are on the East Coast these days, in Cayman and Europe. My grandmother used to tell me that all fairy tales begin “Once Upon a Time.” Congratulations in advance to the lucky purchaser of this incredible land on their time here,” Schilling wrote on Instagram.
According to Mansion Global, the huge swath of untouched land is in California’s celebrity-filled coastal enclave Malibu. Online bidding on the 130 acres started on March 28 and was expected to end on April 11.
The property was previously on the market for $13.5 million, but according to Concierge Auctions, which is handling the sale in partnership with Bill and Daniel Moss of Coldwell Banker Realty, bidding was expected to start between $2 million and $4 million.
Perched in the mountains with unobstructed views of the Pacific Ocean and surrounding landscape, the plot “is an incredible blank canvas” that offers “endless potential for passionate and creative purchasers to leave their stamp on the Malibu community,” Schilling told Mansion Global.
According to Concierge Auctions, reports and surveys for a roughly 10,000-square-foot home on the land have been completed and designed by Malibu-based Tobias Architects.
“This property represents a crown jewel. The opportunity to create a private fantasy and legacy estate, far removed but close enough to drive for a frappuccino and organic breakfast,” Schilling said.
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