Cheap Dirt, Pricey Walkstreet House

Posted by Dave Fratello on Thursday, May 19th, 2011 at 3:41am.

It wasn't so very long ago that we saw a particular flat, South End walkstreet lot sell for a number that seemed a low point for the area for dirt in a good location.

The lot was then called 441 6th Place, at the corner of 7th/Ingleside. It hosted a little home and garage with a noteworthy cactus garden between. The dirt sold in Jan. 2010 for $1.5m.

Soon, an ambitious custom build was under way. The design was inspired by the "British Colonial" style that may be emerging as an alternative to "Cape Cod" and the various -erraneans.

The grandest execution of "British Colonial" – 212 The Strand, the first and last triple-lot on MB's beachfront. (See "Big, Beautiful, Too Much?")

At 441 6th, after all the searching for a perfect lot, and all the work building a custom, fully detailed-out house, the owners had a change in plans. They offered their product up to someone else who might love it.

It's been an open secret for months that the new home, newly rechristened 440 7th, could be had. Now the sale has closed at $3.660m.

The home's almost as big as they come on these standard size, 2700 sq. ft. lots: 4br/5ba, 4000 sq. ft. You expect high-end everything from this builder.

The sale's a significant jump from a new home sale last year, one short block away along Ingleside.

Last July, 440 6th, a somewhat bigger new Cape Cod (6br/6ba, 4200 sq. ft.) sold for $3.275m.

The bump for 440 7th is +$385k/+12% for a custom home, better location, and a sale done quietly off-market rather than after a public, rocky year on-market with more than $1.2m in cuts. (See "Close the Books on 440 6th.")

It may be time for a bigger look at the South End walkstreets. About a year ago we looked at the sales activity in the area somewhat comprehensively in "Flat Walkstreet Action." We'll put an update on the list.
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