Paul Allen’s prime undeveloped residential property in Beverly Hills is back with a significant price chop. The hilltop spot in Beverly Crest known as Enchanted Hill is priced at $110 million, down from its $150 million ask of about fifteen months ago.

Enchanted Hill was, at one time, the home of western movie actor Fred Thomson and his screenwriter wife, Frances Marion. The property extends to 120 acres; until the early 2000s, it was crowned by Thomson and Marion’s Wallace Neff-designed Spanish colonial revival, a 10,000 square foot house that was a fundamental representative of the history of the area.

Allen had the original house demolished. In the marketing materials of last year, the property was shown only as it is, a swath of groomed green on an exceedingly private pinnacle offering panoramic views of the Los Angeles area. The new marketing materials are intended to stimulate the creative instincts of potential buyers, offering a series of concepts for contemporary estates that might fit the landscape well.

The five lots that comprise the property could also support a family compound with multiple residences, and this sort of selling point will likely stimulate a purchase. Allen constructed a one-mile private drive during his ownership, as well as a pair of secure, gated entrances for each access point.

Allen co-founded Microsoft in 1975. When he died in 2018, his net worth was close to $22 billion.