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A San Francisco art dealer is offering a waterfront spec house—currently an undeveloped parcel with plans—for $35 million.

Located in Tiburon, Calif., a bedroom community about 16 miles from downtown San Francisco, the 7.4-acre site includes views of the San Francisco Bay as well as the Richmond-San Rafael Bridge. The sellers have approval to develop the land, and the plans for the home are under review by the Marin County planning…