The land was at the center of a battle over access rights to four hiking trails.
A stunning swath of Bay Area land on the southeastern tip of the Tiburon Peninsula has received a whopping $32 million price cut a year after a feud over access to trails on the property.
The 110 acres of meadows, native plants and lush forests stretching across a ridgeline rising 590 feet above sea level and offering panoramic views of the Golden Gate Bridge and San Francisco skyline is now listed at $63 million by Golden Gate Sotheby's International Realty.The land was recently at the center of a battle over access rights to four hiking trails on the ridge.
TRUST's suit did not argue that the entire property should be dedicated to the public, just the trails. The group provided aerial photography and presented 28 witnesses who testified that they used the trails openly and regularly without objection during the time in question.The San Francisco court said that it takes a high standard of proof to"take away a party's land in favor of a public dedication," and concluded that TRUST's proof did not meet that high standard.
At the time, the land was listed for $95 million by Sotheby's, but after 18 months and no sale, the big price cut this week is looking again to entice buyers. That came after an initial price point of $110 million, meaning the list price is now $47 million lower than originally offered.
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