Vacant lot close to San Francisco sells for $25 million

An empty lot within the Bay Space simply offered for $25 million.

The two.5-acre lot of land is on essentially the most coveted avenue in Atherton, California, the nation’s most costly city, about 30 miles south of San Francisco.

The lot at 75 Isabella Ave. is close to situated close to Menlo Faculty within the prosperous suburb and had been listed at $26.6 million since April 2022, The Real Deal reported.

Realtor Michael Repka, who brokered the sale, can be behind the sale of a similar 2.5-acre property in Atherton that went for $25 million in January — however got here with six-bedroom, five-bath home that the client deliberate to tear down.

Repka stated the brand new purchaser has large plans however received’t sub-divide the land.

“It’s my understanding that the purchaser intends to construct one very grand property house on the property,” Repka told SFGate. 

75 Isabella sits near Menlo Park, Stanford College and Menlo Circus Membership, a pricey and unique nation membership situated just a few streets down from the lot.

The neighborhood has a median house sale worth of $7.9 million, based on a yearly PropertyShark report, although Redfin reveals that close by houses situated on comparable lot sizes usually promote for greater than $20 million.