Police worked to remove the crashed convertible from the site.
The boys were driving along Sesnon Boulevard near Mason Boulevard when they lost control and plunged 70 feet over the edge of the construction site.
Family members said that the teen had taken his father's Porsche convertible for an illegal ride, and his 12-year-old cousin was in the passenger seat.
Investigators say that when the teen driver lost control, the car crashed through a fence and went flying over the edge of the deep construction site somehow landing upright with the boys still inside.
Amazingly, they were able to walk out on their own, but authorities did not take any chances. Both boys were airlifted to a hospital to be checked out.
"Miracles still happen, that's the best way I can put it," said Eric Hansen of Los Angeles Police.
"Firemen were saying that they've never seen that deep of a drop without fatalities, and they were able to walk out of it," Hansen added.
Authorities say that charges are not likely, but the families say the boys certainly have much explaining to do, but they're mainly just glad that the two have no serious injuries.