East MB Options GrowingPosted on Tuesday, September 11th, 2012 at 5:52pm.
Not everyone is selling immediately in East MB in the $2m range. Not at this time of year anyway.
We count 14 sales of livable, 3500+ sq. ft. homes between $1.7m-$2.150m so far this year, plus one at $2.6m (see "East MB Sale Crosses $2.5m").
Let's review what's on offer now.
This is a newer (2001) build, really big, and while familiar in most respects, it's got some pluses. (We reviewed it 2 weeks ago.) It's a full-size lot with a gorgeous, huge maple tree in back. Location near Manhattan Heights park may be viewed as a negative, on balance.
This one launched at $2.150m, notable given the extra square footage.
Its location is definitely better than 11th, and the lot is somewhat above average size at 7900 sq. ft. – the 55 ft. width helps the layout feel just a little smidge airier.
The 1999 build shows well, a slightly different take on the common Mediterranean. You get a flat, sunny, south-facing back yard.
It's a good combination, but we're now into the 4th week on market here.
Style and custom details abound. They call the design "traditional," lacking another label, but it's anything but the usual for what you'd see in East MB.
Location along Voorhees is on a quiet block that could not be closer to Pennekamp elementary (nice).
1331 Voorhees sold new (and comparably blank inside) in July 2006 for $2.025m, began in mid-August at $2.150m and is now down to $2.075m with 27 DOM.
This one's officially lingering already at 95 DOM and counting.
No huge surprise, because the $2.650m list price is just the starting point for a buyer. The early-90s Spanish needs a lot of updating, and in 5000+ square feet, it gets hard to calculate all that work.
This is one where you want to ask: What's it worth when modernized?
Numbers that make you say huh?!? The listing shows the lot at 8,500 sq. ft. in the official details, but the writeup says it's 10,500. Wouldn't it be good to resolve this ~25% discrepancy?
Still, this one is, hands-down, THE class entry among East MB offerings right now, so it's no wonder they're pushing for extra.
The 2001 home is utterly recognizable as part of the last wave of Mediterranean spec homes in East MB, in terms of basic layout and exterior look. Its last 2 sales were in 2004 ($2.160m) and March 2011 (!) at $2.070m.
But the newest owner went to work and really tricked out the place over the past year-plus. The kitchen is super-sharp (if formal), new black-stained wood flooring upstairs gives the house a look of pure glamor, and the back yard has been outfitted like a 5-star resort, with great pool and spa plus outdoor living space. It's a startling update for this home, which is on a pretty great, flat block.
Why do all this updating and put it back out to the public? Only to get that huge number? We're not clear on the motivation or the market for this high-level remodel, but it's one to watch.
They posted a deal last week but it didn't stick. 1836 6th is back on market at $1.899m.
1836 6th sold back in 2005, pre-completion, for $2.175m.
That's it among the actives for now, 6 in total against the 14 sales, but it's also worth mentioning one more.
That near-$2.3m final price was meant to reflect the quality and plus-plus size. It had sold previously in 2006 for $2.603m.
This one didn't hit the $2.3m number, though. It leased out instead.
We'll catch up again on these later in the Fall.
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