Paliscolo5 6 0 - 6 2 0 N . M A R Q U E T T E S T R E E T P A C I F I C P A L I S A D E S

1.5-acre coastal vineyard estateEntitled for eight ocean-view custom homes

All Bids Due June 25th, 2020

Introduction Kennedy Wilson Real Estate Sales & Marketing, as exclusive sales agent, is pleased to

present this generational opportunity to acquire a 1.5-acre private vineyard estate with

a storied past and a boundless future that is literally 100 years in the making. Nestled

atop the Las Pulgas Canyon, just south of Sunset Blvd in Pacific Palisades and about

½ mile as the crow flies to the ocean, this extraordinary property is now entitled for

development of up to eight stunning new ocean-view homes or it can be reimagined as

a private family compound and vineyard set behind majestic gates. Offered for the first

time since 1926 with 8 legal, buildable lots, 560 to 620 Marquette Street will appeal to a

broad range of custom home builders, land investors and owner/users alike.

Property DetailsAddress/Location: 560,566,572,578,600,608,614,620 North Marquette Street, Pacific Palisades, California 90272

Size: +/- 64,500 square feet / 1.50 acres; 8 residential lots ranging in size from approximately 5,500 sq. ft. up to 9,500 sq. ft.

Zoning: R-1 Residential, Baseline Hillside Ordinance Zone (BHO), Coastal Zone (CDP Coastal Development Permit)

Current Use: 560 N. Marquette – Single Family Home, one story + guest house built in 1940’s (remodeled); and 620 N. Marquette – Single Family Home, one story built in 1950’s (vacant)

Offering Terms:Please refer to the Bid Form found in the Due Diligence Vault for pricing guidance and all other terms of sale.

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Rendering of 8 new custom homes

A Storied Past Back in May 1926, Civil Engineer Irving C. Hess created 8 contiguous lots perched on a crest overlooking the

canyon and ocean at the end of Marquette Street, just south of what was then known as Beverly Blvd in the

City of Los Angeles. The entire property was purchased in bulk from the City by one owner who built the first

homes in 1945. Over the years, the property has traded just a few times, achieved fame as a private family

vineyard estate and today, the entire assemblage is available for purchase and redevelopment.

Tract Map 9300 recorded establishing 8 legal lots on Marquette Street at the end of a cul du sac overlooking the Las Pulgas Canyon

1926 1934 1945

All 8 lots purchased by one individual

Owner files for a permit to build the main ranch house and cottage that are still there today

Ranch House then

1955 1999 2006

Original owner carves out a lot at the end of the street with a home and sells to an employee

Architect/Artist/Vitner Cosimo Pizzulli purchases the main property spanning 54,800 sq. ft. with ranch house and cottage. He is only the 3rd property owner dating all the way back to 1926

Pizzulli acquires the remaining portion of the 8 original lots, totaling 9,700 sq. ft. thus reuniting the original 1.5 acre site

Ranch House now

A Private Sanctuary by the SeaBy far one of the largest developable residential lots South of Sunset Blvd in the Palisades, the main parcel

has been transformed over the years but still retains its original rustic charm, character and privacy. Both

the owner and the vineyard have been the recipient of numerous feature stories, awards and articles over the

years in the print media.

The Property• Just under 1.5 acres; mostly flat and set behind impressive custom gates and surrounded by lush mature landscaping.

• Ideally situated at the end of a cul du sac with dramatic canyon and ocean views

• Restored mid-century ranch house, charming guest cottage and adjacent mid century modern post and beam single family home (vacant)

• Gorgeous stone salt water pool and spa with waterfall feature, koi ponds with running creek

• Fully equipped professional outdoor kitchen with imported pizza oven and impressive stone fireplace with custom metalwork features

• Wine making portico, magnificent above-ground custom wine cellar and tasting room

• Retaining wall at the foot of the property stretching 400’ across and 12’ high

The Location• Equidistant between downtown Palisades and Sunset

Beach and surrounded by over 10 highly acclaimed public and private schools; all just a moment’s drive away.

• Short stroll via a canyon path to the ocean and minutes away from several hiking trails, bike paths and 1.5 miles to Palisades Village.

The Vineyard First planted in 2003, “Paliscolo Sangiovese” is an award-winning private label wine that is grown, harvested,

aged and bottled on site and stored in a magnificent above-ground custom built wine cellar and tasting room.

Between the years 2004-2018, this hand-crafted and organic Sangiovese grape has produced 431 gallons;

178.5 cases; and 2,278 bottles of wine.

In addition to the vineyard, the magnificent grounds feature a fruit orchard with persimmon, orange, lemon,

lime, tangerine, fig, plum and olive trees. There’s also a raised hillside vegetable garden next to the vineyards

ready to plant the next harvest and a whimsical sculpture park.

4.5” 2.5”

3.5”

PIZZULLI PALISCOLO

1 0 0 % O r g a n i c

Produced & Bottled byC O S I M O P I Z Z U L L I

Pacific Palisades, California

750 ML Contains No Sulfates ALC 13.6%

02-11-16

Final Colors / Final Artwork

PMS 136Front

Outer B/G

35% KFrontBoy

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PMS 4535BackB/G

COSIMO PIZZULLI • Pacific Palisades, CA COSIMO PIZZULLI • Pacific Palisades, CA

2006 Paliscolo - Front Label 2006 Paliscolo - Back Label

A hillside romp in the sun,by the sea... this Paliscolo,or “little Palisades boy”takes you there. Light andfull of bright berry flavors,this year’s vintage from ouroceanside vineyard promisesgreat things to come.

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3.5”PaliscoloS A N G I O V E S E

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Back To The Future RedevelopmentIn 2016, the owner/architect filed with the City and Coastal Commission to seek entitlements to build up to 8

single family residences on the property. Four challenging and very expensive years later, entitlements were

granted by the City of Los Angeles Planning Commission, taking the property all the way back to May 1926 and

paving the way for a myriad of future redevelopment possibilities.

Prior to the issuance of all 8 separate APN’s by the County Assessor, a new owner will need to demolish

the existing improvements and structures because they currently cross more than one lot line. Once

separate APN’s have been issued, a full set of plans for each home and lot can be submitted to the Planning

Department for review and approval. The approved plans are then submitted to the Building Department to

check and issue permits (“RTI”).

“The new homes were designed to feel like a Norman Rockwell painting of the quintessential American home, with a front porch, rear yards, decks and a view of the Palisades landscape.” - Cosimo Pizzulli

The Facts and Figures• Approvals for up to 8 new single family residences with City Planning Commission entitlements.

• Preliminary plans for all 8 homes; actual hard and soft costs exceeded $1.5M over a 4-year process.

• Average Lot Size – 8060 sq. ft.; Average Home Size (including basements) – 6,861 sq. ft.; Average Total Floor Space per Home (including garages, porches, decks) 8,415 sq. ft.

• Renderings for a private family compound with 16,000 sq. ft. estate home, guest house, tennis court and garage.

• Approvals allow for maximum flexibility. Keep the best of what’s there, build a new estate home on 4 or more lots and sell off the rest.

• A review of 15 recent new home sales in the subject market show an average sale price of $5,800,000 for an avg 5,528 sq. ft. home, or $1,067 per sq. ft. (see “CMA” in due diligence vault).

• A review of 14 recent sales of “teardown” homes show an average size lot of 8,082 sq. ft. selling for approximately $2,468,000, or $305 per sq. ft. (see “CMA” in due diligence vault).

Development Team• Property Owner: Mr. and Mrs. Cosimo Pizzulli• Legal/Land Use: Jeffer, Mangels, Butler, Mitchell, LLP• Geotechnical/Engineering: Byer Geotechnical• Survey: Land & Air Surveying• Civil Engineering/Grading: Ahsirt Engineering Inc.• MND/Class 32 Categorical Exemptions: SWCA Environmental Consultants• Architect: Pizzulli Associates, Inc.

Due Diligence Vault• City Entitlement Documents• Architectural Drawings• Geology Reports• Lot Surveys• Grading Plans• Marquette MND (now a “CE32”)• Architectural Permit Sets of 8 Housing Plans• Photography (Current & Historical)• Seller’s Original Offering Memorandum/Market Data• Project Renderings (8 new homes; 1 new Residential tennis estate)• Sewer Permit Plans and Geotechnical issued by the City (BOE/GEO)• Slope Band Analysis –for 8 Lots• Virtual Videos Animations (8 homes)• Competitive Market Analysis – New Homes & “Tear Down” lots• Bid Form and Draft Purchase and Sale Agreement

Bid Deadline Registration and Process• Go to www.560Marquettestreet.com to access virtual tour, property info and confidentiality agreement• Register and execute the Confidentiality Agreement• Upon completing, you will be provided direct access to the online data vault containing property documents, bid form and draft PSA• Prior to Bid Deadline, review all property documents and research• For a Private Tour, please contact Andrew Levant at 310 559 1000 or email at alevant@kennedywilson.com or Rhett Winchell at 818 371 0000 or email rwinchell@kennedywilson.com• Utilize seller provided bid form to submit offer on or before the Bid deadline of June 25th, 2020.

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LOT 8APN 4414-019-008

9,461 SQ.FT.

605611

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LOT 1LOT 2LOT 3APN 4414-019-003 APN 4414-019-002 APN 4414-019-001

LOT 4LOT 5APN 4414-019-005 APN 4414-019-004APN 4414-019-007APN 4414-019-007

LOT 7APN 4414-019-007

LOT 6APN 4414-019-006

5,464 SQ.FT.6,291 SQ.FT.7,945 SQ.FT.8,756 SQ.FT.9,083 SQ.FT.8,557 SQ.FT. 8,926 SQ.FT.

20'-0"

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SITE PLANAugust 29, 2019

620 - 560 Marquette Street - 8 Entitled Homesites Address Lot # Lot Sq. Ft. Home Sq. Ft.* Garage Porch Decks Total Floor Space 620 1 5,464 4,918 400 185 448 5,951

614 2 6,291 5,201 400 248 725 6,574

608 3 7,945 7,300 400 104 1,388 9,192

600 4 8,756 7,281 400 128 1,317 9,126

578 5 9,083 7,293 400 144 973 8,810

572 6 8,926 7,785 400 212 876 9,273

566 7 8,557 7,354 400 211 710 8,675

560 8 9,461 7,756 400 209 1,357 9,722

TOTALS: 64,483 54,888 3,200 1,441 7,794 67,323

AVG/HOME: 8,060 6,861 8,415 * 2-Story Homes + Basements

VIEWING INFORMATION: Virtual Tours on line at www.560MarquetteStreet.com

Private tours by appointment only. Broker Co-Op offered.

DISCLAIMER: Neither Seller, Kennedy Wilson Sales and Marketing Group (Listing Broker) nor any of their respective directors, officers, agents, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of the Promotional and Due Diligence Materials including sizes, characterizations, configurations, views, zoning, property condition, allowable land use, approvals, governmental regulations construction costs or potential development from this purchase opportunity. All published lot and future home sizes in the Promotional Materials are approximations based on the best information available from a variety of sources including the Seller, Architect, Surveyors and City Officials; all of which are subject to change. All existing structures are being sold in their As-Is and Where-Is condition and Seller and Broker did not measure the spaces. Buyer must independently satisfy themselves as to existing useable/saleable sq. ft. of all areas and future development potential and costs. Prospective buyers are encouraged to do their own due diligence and feasibility studies prior to submitting an offer to purchase the property.

Rhett WinchellDRE 00867471Tel: 818-371-0000 rwinchell@kennedywilson.com

Andrew Levant DRE 01011576310-559-1000alevant@kennedywilson.com