New Condos: Half Gone

Posted by Dave Fratello on Tuesday, July 10th, 2012 at 3:50am.

1773 and 1775 Mathews are part of this 4-unit complex
We made just one quick reference to a new set of condos up in the high 1700s of Mathews in our Sunday Opens post.

We made a quick reference.

They made quick deals.

These units are so far east in MB that they're actually across Aviation in what you'd consider North Redondoland, but no – still the 90266.

They're also so far south along Aviation you might consider them to be Redondo, but, again, no. They're still on "our" side of Artesia.

Turns out, 2 of the 4 units offered to the public are in escrow already, with 9 and 11 DOM respectively.

The other 2 of the 4: not yet on the MLS. We'll find out more on those.

Interior of one of the condos
The deals are for 1773 and 1775 Mathews, each 3br/3ba, 1800 sq. ft. units decked out in a pleasing, wide-open modern style by a local architecture firm.

The balance of the units share the same specs.

Both 1773 and 1775 Mathews were offered at $755k

There's also a "450 square foot commercial studio space" in the project, per the listing. 

For comps this year, you'd mainly look to 2 units that sold in the Tennyson condos, 1208 Tennyson #8 ($665k) and 1202 Tennyson #2 ($650k). Those units are of comparable size (1750 sq. ft.) and were built in 2006, and – depending on the unit within the complex – have location issues of their own. (Some units abut the McDonald's drive-thru, as an example.)

Thinking about these new Mathews condos, you might also look to a similar set of condos that are also east of Aviation, but still within MB.

Notably further north along Aviation you see a set of units on Aviation Place near 2nd St. The most recent sale there: 307 Aviation Place (3br/3ba, 1750 sq. ft.) at $648k in May 2011. The Aviation Place complex sports a 2002 build date – yes, a full decade ago. Still... comparable sizes, a bigger complex with something of a city/neighborhood vibe – $100k less.

You have to say bravo for these surprising new condos. Who can imagine the bet these developers put down however long ago on the market that we find ourselves in today? Bullish. We'll let you know when we know more about the rest of these 4 units.
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