$76 Million Estate Goes On The Market In San Diego County
The real estate market overall may be struggling but that hasn't seemed to stop the flood of mega-estates rushing to market. The latest is an enviable chunk of oceanfront land in Del Mar, California that is listed at an astronomical $76 million. The 5.7 acre estate includes a 10,000-square-foot mansion and a guest house. Sounds good right? Well, the main house, Tippett Hall, a 1937 Colonial-style mansion has been gutted. The owners, venture capitalist Bill Stensrud and his wife, Carol, bought the home for $25 million in 2000. In March 2001, they requested a permit to demolish but the house was never torn down. The value here is the land of course but the price is exorbitant even if you factor in the fact that the estate is three pieces of land (3.5 acres, 1.9 acres, and .2 acres) that could hold three separate homes. A current assessed valuation on the property is $27.3 million and the property taxes for last year were $271,269. You can check out some pics of the home in its glory days at the San Diego Luxury Homes website.
[Thanks, Lana]
