Someone will by it and build a mansion on the lot.

because of location location location scarcity affluent area $1,250,000.00? The taxes would be lower than most other homes in the area.

You could house 4-6 tech engineers there!

I have not looked at price.

location.

There is SO MUCH friggin' money floating around that the asking price amounts to pocket change.

A few years ago, there was a decent-size lot with a teardown still standing on it in the Point Grey area of Vancouver. It had spectacular views, of course. It had to have SOMETHING that justified the asking price of $22.000,000. Concurrently, there were 9 jaw-dropping chateaux in France for the same price, more or less.

Around that same time, there was a penthouse for sale in downtown Vancouver that had ongoing expenses - strata fee and property taxes - that came to $10,000 a month. Asking price - $26,000,000

That paired with the lot size, this makes sense for the area. Love it or hate it, but it is the reality here in CA.