18 Miles Of California Coast For Sale
"If you never realized how much the Hearsts hold, you're excused... Thwarted for years in their efforts to develop housing or a resort on parts of the ranch, the Hearsts now want to sell most of these 18 coastal miles some 1,121 ocean-adjacent acres to a conservancy that would then pass the land to the state... The proposed sale price is $80 million plus $15 million in tax credits, which the Hearsts expect a pending appraisal to show is far below the land's value on the open market."
Thanks to Chris Steins