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Posted
47 minutes ago, Bijan said:

It's a question of what the lot/land is worth.

As @Kitchen said anyone with enough money to buy such a house wants to build it to their exact wants and needs and not buy someone else's idea of a dream home.

Exactly. As I said, on paper it's a great deal. The problem is the house is a monstrosity. I'm surprised the city approved it. The price alone limits marketability and seeing as it's someone else's vision it limits it even more. I doubt the neighborhood would be better for it and the likelihood the city/county gets its taxes from it diminishes. This house has vacant for years/in perpetual foreclosure written all over it. 

The city should either have limited the size or not allowed the combining of the lots particularly if it wasn't being developed by the future resident. 

Anyone who thought this would sell for anything close to $500 million deserves to lose their money. 

 

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