Los Angeles Business Journal

Luxury Real Estate Market Redefines Extravagant

Wednesday, February 27, 2013

A Beverly Hills estate now is being offered for lease at $600,000 a month, dwarfing the $150,000 asked for summer months at Malibu’s finest properties or the $100,000 paid by singing legend Michael Jackson for his last residence in Holmby Hills. The Los Angeles Times reports that this may be the most expensive lease in the country and part of a growing trend.