Bill Gross Is Selling His Hole in the Ground for $26.5 Million

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Bill Gross of PIMCO participates in a conference on the future of housing finance at the Treasury Department in Washington, DC.

Two years ago Pimco founder Bill Gross spent $23 million to buy a house in Newport, Calif.'s Harbor Island. The place was 11,000 square feet, with nine bedrooms, 12 baths and a lawn that lead down to the bay.

Then he tore it down.

Now Gross is selling the sandy lot. He's listed it at $26.5 million, according to theOrange Country Business Journal.

Harbor Island is one of the most exclusive bits of real estate in America.

Source: Google Maps

If you're not into construction and you've got a bit of extra cash on hand, you might consider picking up this property nearby, with 10 bedrooms and 12 baths. It's listed at $32.6 million — and it's got twice as much waterfront as Gross's sandlot.

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