More Strand OptionsPosted on Thursday, February 4th, 2010 at 4:35am.
So The Strand represents a crazy subset of MB real estate, but an increasingly interesting subset to track, as we see more and more activity there.
As we noted in a year-end wrapup (see "Strand Sales of 2009"), for most of MBC's first 2 years (2007-08), few Strand homes changed hands.
Last year, 6 Strand properties sold.
Now there are 5 more on offer. (See this page Sand Section actives from the current MB Market Update for the first 3.) The 2 newest:
1600 The Strand (3br/5ba, 5225 sq. ft.) is a high-style 80s modern. Think steel, glass and leather.
The listing touts the architect's rep and labels the home "Grandieur Embodied." The rooftop pool is one of the rare, not-to-be-duplicated extras.
No doubt this is a unique property, a signature step on The Strand.
The start price, $13.5m, exceeds by nearly $2m the highest price paid for a Strand home last year: 1800 The Strand, which went for $11.65m. Though they have similar square footage and both are on north-side corner lots, 1800 was newer (2000 build) and had more beds & baths (5/7), making it a bit more family- and guest-friendly.
908 The Strand is most likely a lot sale. (The two structures there now are livable but not the main attraction.)
The midblock lot is close to downtown and, well, on The Strand. So what's the dirt worth?
As we noted in "Strand Sales of 2009," there were 2 adjoining lots further south at 204 & 208 The Strand that sold for a combined $12.8m ($6.1m for 204 and $6.7m for 208).
A downtown location like this, versus the deep south, calls for some kind of discount, so 908 The Strand starts well below the "lesser" of those 2 southern lots, at $5.595m.
That may not be far off. Just for reference, we'll point further north, where 3216 The Strand sold for $4.7m last year and 3404 The Strand sold for $5.350m; the latter of those 2 had a structure worth keeping and improving.
It's the first week of February. Think more Strand options will unfurl this year? Yep, us too.
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