the former chief executive of Google, has paid $65 million for Enchanted Hill, a prized piece of undeveloped land in Beverly Hills that was owned by late
according to people familiar with the situation.
The deal, which closed in December, marks the end of a more than three-year push to sell the roughly 120-acre property, which came on the market asking $150 million in 2018.
Real-estate agents say the property is one of the largest undeveloped parcels left in Beverly Hills, with views of the ocean and the Los Angeles Basin. It could be developed into a large compound totaling as much as 80,000 square feet.
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Reached by phone, Mr. Schmidt’s spokesman declined to comment on the specifics of the deal, saying only that Mr. Schmidt is a fan of real estate and architectural history.
The site was previously home to a…