Real estate news is mixed nationally, but one thing stands out as we start to look back at 2011 in MB: There were some ceiling-busting deals.
Let's take a little tour over the next couple days. And here's a hint: We're saving the biggest news for Part II.
Tree Section
If you think Tree Section sales over $4 million…
Real estate news is mixed nationally, but one thing stands out as we start to look back at 2011 in MB: There were some ceiling-busting deals.
Let's take a little tour over the next couple days. And here's a hint: We're saving the biggest news for Part II.
Tree Section
If you think Tree Section sales over $4 million are at all routine, check yourself. There have been a few, at the lower end of the 4s – mainly new construction in 2008, to be specific.
But this year...
533 15th (6br/6ba, 5300 sq. ft.) sold for $4.7m.
Is this home worthy of being the priciest-ever sale in the MB Trees? Well, one man's opinion is: Yes. (And this guy is reputed to be a bear.)
We've offered lots of superlatives on this home, calling it "simply one of the greatest homes in MB," suggesting that it "could give a pulse to a dead man [or] bring songs to the lips of a cynic."
We have further called it "a monster, must-have house." (See "A Saturday Treat" from April.)
Martyrs hill, a big lot (7700 sq. ft.), a crisp, classic Cape Cod with ocean views and tons of common space... The home absolutely sings.
Sure, there was plenty of tut-tutting among agents (confidentially, of course) that it's a crazy price, but this is what happens with must-have properties, isn't it?
The sellers hold out, the buyers start to think, "What if we don't get it? We must!" And after that...
For more on some other $4m+ sales, see: "$4+ in MB" from October.
East MB
Only once before has a sale in East MB eclipsed the recent sale at 116 Terraza Place. The home's got 7br/9ba, 10,000 sq. ft. of living space and a half acre of land, including the driveway.
The recent closed sale price of $4.9m was notable in one sense for the dramatic contrast with the spec build's start price in the $10m-$11m range. (See "11 – No, Wait, $5m – or Less.")
But it was also simply one of the very highest-priced transactions ever east of the highway.
The only MLS-reported sale we can find that came in higher was at 1240 5th St., a comparably sized (6br/8ba, 10,000 sq. ft. on 1/4 acre) home built in 2003 along one of East MB's best streets – a private drive that ends in a cul-de-sac a few doors away.
The "French Villa" (per the old listing) was offered for lease at $25k/mo. or for sale at about $6m starting in June 2005 – bubbly times. It wound up selling for $5.860m in May 2006.
So while Terraza was built to beat that record, it fell about $1m short.
Tomorrow, we'll look at the Sand and Hill Sections, and we'll bring out that big news we alluded to earlier.
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Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 18th, 2024 at 9:15pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.