Developer Robert Quigg seeks $11.5M return on site of razed Wallace Neff home in Bel Air

Los Angeles /
Nov.November 23, 2016 05:00 PM

In the age of the spec home, land value often trumps home value.

At least that is what developer Robert Quigg is betting on. The luxury builder listed a vacant lot on Amapola Lane in Bel Air for $25.95 million.

Through an LLC registered in his name, he bought a house on the site from comedian Bob Newhart earlier this year for $14.5 million, records show. Then he promptly razed the 9,000-square-foot estate, designed by Wallace Neff.

Now he is seeking an $11.5 million profit for the East Gate-area plot, which is surrounded by more than an acre of grounds, according to the Los Angeles Times.

Gardens, a lagoon-style pool and outdoor entertaining areas were also removed when the house was torn down.

Michael Sahakian of Coldwell Banker is the listing agent. [LAT] — Hannah Miet


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