Earlier this year, a Canadian developer paid $14.4 million for Bob Newhart’s home in Los Angeles’ posh Bel Air neighborhood, $1 million less than the 87-year-old comedian and actor was asking for his long-time home.
But instead of renovating the house on Amapola Lane, luxury developer Robert Quigg simply knocked it down, got rid of the gardens and lagoon-style swimming pool and has put the 59,500-square-foot lot back on the market for just shy of $26 million, according to the Los Angeles Times.
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It’s being marketed by Michael Sahakian of Coldwell Banker Residential Brokerage, who did not immediately respond to requests for comment.
Mr. Newhart is known for his sitcoms "The Bob Newhart Show" and "Newhart," and movies like the 1970 classic "Catch-22," and more recently, the 2003 holiday staple, "Elf."
According to the L.A. Times, speculative developers knocking down old houses in the area to make way for modern mansions is not a new trend as "location and acreage often exact higher prices than a structure itself."
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Last year, for example, private equity firm founder Alex Soltani paid $32 million for Dr. Dre’s 9,696-square-foot house in Hollywood Hills West, with plans to raze the property and erect a new home on the site, which boasts city, mountain and ocean views.