A $175 million megalisting in Benedict Canyon has surfaced, previously tied to a Bulgari hotel project that fell through amid financial and community controversies. The property, now listed for sale, encompasses 15 parcels including notable addresses and is in pre-foreclosure due to a significant unpaid loan. Developer Gary Safady initially proposed an expansive hotel project that drew local opposition due to its scale. Now, the future of this property remains uncertain as it is presented without commentary from its representatives amidst ongoing financial issues.
This sprawling property, once intended for a Bulgari-branded hotel, is now listed for $175 million amidst a backdrop of pre-foreclosure and real estate disputes.
The planned mega-project, known as The Retreat at Benedict Canyon, aimed to create a luxurious hotel plus additional residences, but faced backlash from community members concerned about its scale.
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