There's a real estate battle brewing for the most expensive property in the history of Los Angeles, fittingly dubbed "The Mountain," because we've learned the owners of the incredible mountaintop property just laughed off a developer's $400 MILLION offer!!!
Sources familiar with the negotiations tell TMZ ... Malibu real estate developer Scott Gillenrecently submitted a $400 mil bid, but the estate's ownership group scoffed and came back with a $600 million counter!
It's interesting ... "The Mountain" is listed for $1 BILLION, but the counteroffer from ownership group Secure Capital Partners is $400 mil below the 10-figure asking price. Overvalued much?
We're told Gillen has grand plans to build 6 homes on the sprawling 157-acre plot of land in Bev Hills, which sits atop a mountain overlooking all of L.A. ... while the owners envision a single home being built on the 1.5 million square foot property. Regardless, the impasse is all about money.
Scott's no stranger to massive land purchases. Last year, he set a Malibu real estate record when he plunked down $50 mil on a 24-acre plot. Still, we're told "The Mountain" deal is likely going nowhere because Gillen doesn't want to budge.
The good news ... if you're part of the 3 comma club, "The Mountain" could still be yours!