Bill Gross Wants You to Pay $26.5 Million for His Empty Lot
Bond guru Bill Gross, perhaps in preparation for his move into Jennifer Aniston’s mansion, has put his Newport Beach empty lot for sale for $26.5 million, according to the Orange County Register.
Mr. Gross, who already owns several homes, recently paid maybe $37 million for Ms. Aniston’s former abode, according to the Real Estalker blog. Selling this big old empty lot will certainly help cover that cost.
Jeff Collins writes:
Billionaire bond guru Bill Gross has done an about-face on plans to build a mansion on Newport Bays exclusive Harbor Island, offering the land for sale after demolishing the existing mansion there.
Gross, founder of bond-fund manager Pimco,paid $23 million two years ago for the property, which had an 11,000-square-foot Georgian Colonial home on it at the time.
The propertywent on the market last month for $26.5 million. Photos show that the mansion was demolished, leaving a bare, ready-to-build lot.
The listing describes the property as a once-in-a-lifetime opportunity to build a legacy estate on one of the most valuable and prestigious pieces of land on the West Coast.
…
The Orange County Assessors Office listed the value of the lot at $21.3 million at the time the Grosses bought it, giving the home and other structures a total value of $1.7 million. The Grosses apparently believe the value of the lot appreciated by about $5.2 million after going to the expense of tearing down the existing home.
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