Bill Gross Is Selling His Empty Plot of Land for Only $26.5 Million

Two years ago Pimco founder Bill Gross bought himself a $23 million, 11,000-square-foot Georgian-style mansion on California’s Newport Beach’s secluded Harbor Island.

Then he leveled it.

Now, Gross, who runs the world’s largest bond fund at PIMCO and whose fortune is estimated by Forbes magazine at $2 billion, is selling the vacant lot for $26.5 million, according to the Orange Country Business Journal [OCBJ]. The lot has 112 feet of Newport Harborfront property and was previously owned by philathropist Elizabeth Colyear Vincent.

The property is a rare listing for Harbor Island, notes OCBJ, that could get nabbed quickly, despite a constant downturn in California’s high-end real estate market.

Harbor Island, accessed by a single bridge, is among the county’s most expensive neighborhoods.