$7-Million Tear-Down

"Like a giant termite gone mad, the bulldozer first took out the three-car garage, then headed for the rest of the house Tuesday, brandishing its scooper at anything that got close until it ate its way almost to Newport Bay. Tear-downs are a way of life on Harbor Island--almost expected in a 31-house colony that counts among its residents soon-to-be-ambassador George Argyros, where Irvine Co. chief Donald Bren is preparing to break ground on a new abode and where each house has a dock."

"You may not be able to find vacant land along the Southern California coast, but if you're rich enough, what difference does it make? The Harbor Island tear-down will be replaced by a 5,465-square-foot house with an attached 874-square-foot garage and a one-vehicle carport. Architectural style yet to be determined."

"Harbor Island is the most exclusive property in Orange County, bar none. The original house, a 4,688-square-foot monument to '70s modern architecture with its sharp angles and bone-colored stucco, couldn't be built until its predecessor came tumbling down. But that had been just an unpretentious two-story beach cottage, less than 2,000 square feet, that was built in the '30s or '40s."

A 27-ton track loader demolished a 4,688-square-foot home on Harbor Island in Newport Beach to make room for a larger 5,465-square-foot residence. The original house, a modest two-story beach cottage built in the 1930s or 1940s, sold for approximately $7 million. Tear-downs are commonplace on Harbor Island, an exclusive 31-house community where each property includes a dock and residents include prominent figures like soon-to-be-ambassador George Argyros and Irvine Company chief Donald Bren. The new owners, Todd and Debra Johnson from Colorado, purchased the property last June and already own a vacation home on Balboa Island. Harbor Island represents the most exclusive real estate in Orange County, where wealthy buyers prioritize location over existing structures.

Read at Los Angeles Times