Ground Down to $6.5m

Posted by Dave Fratello on Friday, November 6th, 2009 at 7:22pm.

One of the truly special properties to hit the market this year has now closed for more than one-third off its start price.

And what a start price it was at 218 Anderson: essentially $10m ($9.988m).

Closed price yesterday: $6.525m.

With a discount from start of $3.463m (-35%), we're pretty confident that will be a record dollar chop for some time to come.

The nearly $3.5m price reduction blows away every other multi-million-dollar price cut discussed in "Some of the Biggest We've Seen" back in July.

MBC said of this home in "Lucky 7's" in late September, when Anderson first posted a deal:
The huge (8br/9ba, 8500 sq. ft.) home on an ocean-view double lot offers all kinds of extras, like 2 masters and almost 2 kitchens (one a "caterer's cooking station") plus a gym and lap pool.

Maybe this is run-of-the-mill in Malibu, the Hollywood Hills or such places, but it's a landmark-type home for MB.

Yes, it's a landmark home, and now, so is the story of the pricing. To their great credit, of course, the sellers didn't hold out too long for too much – they took what was offered. The last list price was near $7m, so they had taken their own ambitions down step by step before this buyer came in.

You may have noted above the live link to Redfin for this closed sale. This seems to be a new feature on Redfin's site, which previously showed only basic info on closed sales and no photos. Now the whole prior listing is accessible – a nice improvement.  For more on 218 Anderson, you can also see the listing agents' site for this chattily narrated virtual tour. (One click shuts off the game-show-host voice.)

There's just one listing in MB right now that might possibly beat a $3.5m reduction if it sells, but we're not really expecting quick or drastic action at 2920 The Strand right now.
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