Griffith Park became a little bigger. All that was needed was an agreement that was canceled due to a coronavirus and a community fundraiser that raised $ 500,000.
Last year, a rare real estate opportunity appeared on the outskirts of L.A.’s largest park. Two empty lots, combined for 1.35 hectares located on the southern border of Griffith, came to the market at a combined price of $ 850,000 – a steep discount from the initial asking price of $ 1,144 million.
Some parties began to go round and round, and a developer immediately had an agreement to buy valuable packages at the beginning of the year. The corona virus hit the US soon after, however, and the transaction fell apart in escrow.
That’s when the community intervened. Determined to buy land to preserve it from development, locals Jason Greenwald and his wife, Corey Nickerson, worked with an organization called Friends of Griffith Park and made a contract at the end of April to buy it for a $ 500,000 discount; the only result is that they must approve the shortened 21-day escrow and raise funds on May 8, according to agents Douglas Elliman Heather T. Roy and Learka Bosnak, who represent the buyer.
More than 100 contributions flowed, ranging from a pair of angel donors who contributed six figures to an 8-year-old boy who contributed $ 2. They collected half a million dollars before the deadline, and the deal was closed last weekend, ensuring that a piece of valuable land would still not developing.
“This is a victory for the environment,” Roy said.
Bosnak added that, especially during the pandemic, it was amazing to see people gathering around the causes and donating money for soil conservation.
The land – which is filled with oaks and wildlife – now belongs to the Mountain Conservation and Recreation Authority, a public body that acquires, conserves and protects open space. Besides $ 500,000, a little extra was raised to take care of future maintenance and cleaning bills.
“When this pandemic ends, Los Angeles will have a bigger and better Griffith Park to return to,” City Councilor David Ryu said in a statement. His office promised $ 15,000 for this effort.
The packages are located just south of Bronson Canyon, the famous section of Griffith Park which has been used as a shooting location for various films and TV shows for years. One of Bronson’s famous caves was used to portray Batcave in the 1960s “Batman” series, which Roy said was a factor that contributed to the success of fundraising.
This beautiful area has also starred in the shows “Twin Peaks” and “Star Trek” and the film “The Scorpion King,” “Hail, Caesar!” and “Under the Silver Lake.”