I don't know why the article intentionally hides the address of this place. Annoying. It's 1027 Waverly. Here's the trulia listing, if anyone is curious (like I was):
http://www.trulia.com/property/3236376439-1027-Waverley-St-P...
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It's a shitty title anyway, it's suggesting the tear-down is somehow relevant to the price. Additionally, $5.5 million is the asking price, and luxury real estate is notoriously over priced in listings - the real price is usually tremendously lower.
What, so only $2.5M for that wreck?:)
$2.5 million for a huge plot of in land in a very popular city, in the most desirable state in the country, in one of the most desirable countries in the world. It seems pretty reasonable to me.