Contact Us
News

The Last Stand: 6 Real Estate Holdouts That Drove Developers Mad

The Chinese have a special name for real estate holdouts. A nail house refers to a property within an area where developers want to build a new project, but owners refuse to sell, like a nail stuck in wood. Love them or hate them, here are some of the most iconic real estate holdouts in recent history. 

Gate Tower Building in Osaka

Placeholder
Gate Tower Building in Osaka

This 16-story building is easily recognizable by the Hanshin Expressway on-ramp within (yes, within) the tower. In the early 1980s, redevelopment of the property was approved by the city but building permits stalled because the highway was in planning. Property rights holders negotiated with the developers of the Hanshin Expressway for five years before agreeing to jointly develop the Gate Tower Building and the highway. 

Austin Spriggs House in Washington, DC

Placeholder
Austin Spriggs House in Washington, DC

In 2003, architect Austin Spriggs refused developers who offered him $3M for his row house to turn the site into offices. Eventually the developers decided to build around the structure. In 2011, the property sold to DC-based Zusin Development and New York-based Sivan Properties for $800K and became a restaurant. In 2016, the partnership sold the property to a New York investor for nearly $4M. 

Wu Ping House in Chongqing

Placeholder
Wu Ping House in Chongqing

Wu Ping became a Chinese celebrity in 2004 after refusing to sell her Chongqing home to a shopping mall developer. Close to 300 families in the area also refused to sell, but Ping would not vacate her home even after the state told her to do so. In 2007, Ping’s home was demolished and her family received 1 million yuan and a new apartment in a settlement. 

Hess Triangle in New York City

Placeholder
Hess Triangle in New York City

When local government tried to acquire David Hess’ Voorhis apartment estate in the 1910s through eminent domain, Hess refused to sell. He was unswayed by New York’s initiative to demolish 300 properties to expand subway services, but by 1914 the city acquired his property. Years later, Hess’ heirs discovered that the incomplete survey missed a small corner of land that was never acquired. A mosaic installed on the site in 1922 provides the ultimate defiance and reads, “Property Of The Hess Estate Which Has Never Been Dedicated For Public Purposes.” Though the land was bought by Village Cigars in 1938 for $1K, the plaque remains.

St. Joseph Catholic Church in San Antonio

Placeholder
St. Joseph Catholic Church in San Antonio

In Downtown San Antonio, you can worship at a Roman Catholic parish and shop in adjacent properties. In 1944, department store Joske’s offered to buy the church grounds with the intent to develop retail shops that would later become the Shops at Rivercenter. Churchgoers unanimously refused to sell, forcing Joske’s to develop around three sides of the Gothic Revival church. The unofficial nickname of the parish became St. Joske’s.

Edith Macefield House in Seattle 

Placeholder
Edith Macefield House in Seattle

In 2006, developers tried to buy Edith Macefield’s Seattle home for a handsome sum to build a five-story development. Macefield rose to national prominence when she would not sell, causing the development to be built around her home. Macefield died in 2008 after rejecting about $1M to buy her 1,050 SF home. Now, the home sits next to an LA Fitness and whether the home will be demolished or preserved is unknown. Macefield called the home Whitewood Cottage, but most of the world knows it as the inspiration for the Disney Pixar film "Up," though screenwriting for the film began two years before she refused to sell. 

Related Topics: nail house, real estate holdout