Burbed has visited this high-priced peninsula before, but we’ve never reported on a teardown at Hillsborough-with-Baywater. Thanks very much to Burbed reader Pkamp3 for the find.
By ALAN FARNHAM | ABC News – Fri, Jun 29, 2012
In Marin County, California, where people tend to have money, people in Belvedere tend to have more. Even so, a recent decision by Clark and Sharon Winslow of 337 Belvedere Avenue to buy the home next to theirs for $4.2 million — and then tear it down — might seem extraordinary.
It’s not, say locals and real estate professionals.
“There are houses being torn down all the time,” says Bill Smith, realtor and ex-mayor of Belvedere. In neighboring Tiburon, he says, a buyer not long ago paid $20 million for the home of tennis star Andre Agassi and wife Steffi Graf, then announced his plan to raze it.
While the article specifically mentions the house that isn’t being torn down, we’re left to guess which property is getting the extreme makeover. And we think it’s this one.
Update 9:30 AM: And we are completely wrong. Burbed reader gallileo provided the evidence that it’s the house on the OTHER side. Correct info added to end of article, because we hate to waste a good housing rant.
341 Belvedere Ave
Belvedere Tiburon, CA 94920
Sold on 01/14/2000 for $2,100,000
Source: Public Records
FINISHED SQFT: 2,831
UNFINISHED SQFT: –
TOTAL SQFT: 2,831
LOT SIZE: 8,400
STYLE: Single Family Residential
YEAR BUILT: 1964
YEAR RENOVATED: 1975
COUNTY: Marin County
LAST UPDATED: August 24, 2011
The interesting thing about buying and tearing down a perfectly good house isn’t that someone with way too much cash went ahead and did it. It’s how much the house was worth in the first place. Zillow says… ZEstimate of $1,876,100. Which means the new “owners” spent more than twice what this house may be worth just to make more land.
Yes, the purchasers live in that 9524 square foot housing tumor on the left. Let’s see what they got for $4.2 million!
Oh yeah. Perhaps they’ll be tearing down this place next, since it’s blocking their Bay access. (See #42. Only 1017 days on Redfin!)
Update: Here is the correct house. gallileo provides a link to SocketSite with the story, and there’s a further link to a piece in the Marin Independent Journal. So, without further adieu, the actual house that was purchased for $4.2 million only to be torn down. That and more, after the break.