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'Million Dollar' development in Beverly Hills

"Development opportunity," "selling for land value" and "as is" are phrases used in real estate listings to describe tear-downs, those homes probably destined for a total overhaul or the wrecking ball. In this occasional feature, we'll highlight tear-downs of note.


The Beverly Hills estate where late television and Broadway producer Michael Filerman long made his home is poised for a makeover worthy of reality television.

Found at the end of a cul-de-sac on the star-lined Heather Road, the 1.33-acre property came on the market in January for $5.5 million and sold Wednesday for $4.8 million after commissions and closing...