There are currently 159 blog entries related to this category.
Thursday, April 11th, 2013 at 10:38am. 383 Views, 0 Comments.
There is a lot of construction going on around MB. It's hard to miss.
Most of it is custom work for owner-users. There are some spec builds here and there, typically higher-end, but they're spread out. There's not one big source of financing out there driving a full wave of new construction, as we have seen in past years.
But there is one unabashed set of speculative builds out there, a group of homes that – back in 2011 – actually brought back the idea of spec construction to MB, after about 4 years without new projects breaking ground.
One of those has now posted a deal at a list price that is the highest for the whole crop of spec homes by the same builder. That's 1605 Pine, a 5br/5ba, 3000 sq. ft. home on a smallish, 4250 sq. ft. lot.…
Tuesday, April 9th, 2013 at 11:53am. 417 Views, 0 Comments.
It's been a long time since $5.6M for a 100-block house by the beach seemed like a peak never to be reached again.
The new peak is more like $6.6M, a million-dollar difference in just 5 years. And most of those 5 years weren't "good" years for Manhattan Beach real estate.
That first peak was marked out in March 2008 at 200 19th St. (5br/5ba, 4200 sq. ft.) a spectacular new Cape Cod on one of the great "teen streets" near downtown. (We call it a "100-block" house because it would be 136 19th if the city didn't re-order the addresses to the 200s starting there; with no Manhattan Ave. cutting through the teen streets, a lower 200 is as good as a 100.)
200 19th sold new for $5.6M, and then the world collapsed. (If you'll allow us some dramatic…
Wednesday, March 20th, 2013 at 2:46pm. 508 Views, 0 Comments.
It was a little bit of a surprise, 18 months ago or so ago, to see 112 The Strand get knocked down.
It had been a completely livable, large 1988-built home, and it went for a price you'd think should maybe come with a house: $7.334M (May 2010).
But that turned out to be how someone valued the dirt alone.
They knew what they wanted: A South End lot on The Strand to build on. They took what was available and paid what they needed to pay. And then they got under way. The project has gone on a while, with a vast, deep basement carved out before the current 3-story structure sprouted. It'll be huge.
That $7M+ sale marked out a new high end for South End Strand lot values, but the question was: Would that sort of number be hit again at a time when…
Friday, February 15th, 2013 at 8:44am. 231 Views, 0 Comments.
They're reaching for historic heights with a new listing in the Tree Section.
New construction at 705 26th (5br/4ba, 4875 sq. ft.) is listed at $3.599Mpre-completion.
3.6 in the Trees? North of Valley?
To reach for those heights, first they had to dig down. They dug a basement for this house, as well as the next-door neighbor, also under construction at the same time. (A double lot at the location was purchased last year and split for purposes of the new construction.)
The basements make both new homes unusually large for a fairly standard size lot. On a 5120 sq. ft. plot, you could normally build around 3500 sq. ft., but by digging, they were able to bring the total square footage near 5000 inside.
5000 in the Trees – that's something,…
Friday, October 5th, 2012 at 3:43am. 198 Views, 0 Comments.
One way to tell (part of) the tale is just to look at some of the most recent closed sales:
424 2nd (3br/4ba, 2550 sq. ft.) is nothing snazzy or special or perfect from any angle, just like all the other recent $1.7m-ish sales in the South End of the Sand Section.
$1.7m seems like the "new normal" for something smallish and flawed, totally livable and kinda lovable, but really needing something more... in the hallowed South End.
The poor photos don't do the home much justice. It's a good layout. Huge garage. Comfy place. But it could use a lot. We hope it does not wind up a lot sale. (We've heard conflicting things about the plans for the property.)
- 552 3rd (3br/3ba, 1850 sq. ft., $1.699m),
Thursday, September 13th, 2012 at 2:11pm. 203 Views, 0 Comments.
And in between, there's the boundary. Specifically, Boundary Place, an alley street that separates our towns.
Final price: $1.475m (-$174k/-11% from start).
It's a U-shaped house built around a "grotto" (not many of those!). There are bedrooms here and there, the kitchen's got an odd setup and finishes, and there are several step-up and step-down levels all around – including, memorably, the split-level master with jacuzzi tub in the room. (Here's our review from March.)
But if we sound skeptical, know this: Mrs. MBC always had a soft spot for this house,…
Tuesday, August 28th, 2012 at 4:21pm. 173 Views, 0 Comments.
That's the sense you get from 2 new listings down in the South End, one each on either side of $6m:
|224 6th (rendering)|
They're running with the "plantation" style that's been sweeping town since someone used 3 lots on The Strand to show off the style in maximal fashion. (That's 212 The Strand; see "Big, Beautiful, Too Much?")
Asking price for this new one: $5.5m.
That would put 224 6th on a par with the biggest spec construction sale of the year, at 128 18th (5br/5ba, 4000 sq. ft.) a "tropical contemporary" that…
Tuesday, July 24th, 2012 at 6:05pm. 165 Views, 0 Comments.
|1200 10th - computer sketch|
Asking price, pre-completion: $2.899m.
For East MB, on a standard 7500 sq. ft. lot.
To which you might say, "good luck with that," but for another – simultaneously posted – new East MB listing, which is already in escrow.
That'd be 1626 1st, comparably sized at 5br/5ba, 4950 sq. ft., which the same developer sold pre-construction, with a posted price while in escrow of $2.899m. (There's that number again.) It's also due to be finished in 2013. (There's that number again.)
Folks are betting on the future.
What about the past?
For context, there's just one sale…
Monday, July 23rd, 2012 at 6:58pm. 160 Views, 0 Comments.
128 18th (5br/5ba, 4000 sq. ft.) is a new "tropical contemporary" in one of the best locations in town, period, given that 18th is probably the best of the teen streets west of Highland.
The sale wasn't quick – 5 months on market – and it didn't crack $6m, as had been the original ambition with a $6.1m start price.
The final price: $5.650m.
Most of the recent sales in the 100- and low-200-blocks are right in the same $5.6m-ish range:
- 128 6th at $5.595m (Jan. 2011);
- 209 16th, pre-completion new construction, now in escrow with a list price of $5.6m; and
- 200 19th at $5.6m (March 2008).
Friday, July 20th, 2012 at 3:14pm. 206 Views, 0 Comments.
|1021 33rd St.|
True, no sale ever posted. But public records do show a sale for $1.500m in May.
That's interesting in part because of the price history on this one.
Brand new, when first listed in mid-December 2011, the home was offered at $1.699m. Not bad for new. Then, 8 days later, the price shot up $400k to $2.1m.
So the final sale price was down $200k from the 8-day-long start price, and down $600k (-29%) from last asking.