ocean views

There are currently 30 blog entries related to this category.

Call it 6 months ago.

Someone holding a newer ocean-view townhome in MB thought something like this: "Market's hot. Wonder how much I could get for this house?"

And so, the 2009-built El Porto townhome at 312 44th (4br/3ba, 2675 sq. ft.) was listed, as a FSBO, at $2.700M.

That would have been an absolutely extraordinary price, if they could even come close.

We noted in "Double Your Money?" that the same TH had sold new for $1.269M in Jan. 2011. (That post includes more of a deep dive into the original, ambitious, late-bubble project in which this TH was built.)

In February this year, they were looking to more than double their purchase price in 3 years.

Alas, they did not.

The FSBO string played out. Various agents made their pitches to the would-be…

It took a few months, but they've now sold 828 Highview, a favorable, large corner lot with potential views from the second floor of a new home. (Lot size: 8900 sq. ft. and change.)

The price for the lot: $5.400M.

And from there, you have to start spending to create a home to take full advantage.

The sale price here is quite a drop (-15%) from the start price of $6.350M, which everyone was told was "firm." Until it wasn't, apparently.

One of the comps for this lot would be 724 10th, a slightly bigger lot (10,500 sq. ft.) just a couple blocks north. That one had been a frequent traveler on the MLS in 2011-2013, with asking prices from $5.690M down to $4.895M. It finally sold off-market in March this year for $5.630M. (Looks like that 2011 start price

A little pocket of the MB Tree Section near downtown does not feel like the suburbs at all – it feels like the beach.

Smaller lots and dense development rules put the homes close together. Some get an ocean view, and downtown is close by for all. This area, basically 12th and 13th Streets from Ardmore east to Laurel, is informally the South Martyrs Hill, given that it's south of the American Martyrs Church.

There have been 4 sales in the area this year already on the public market – each seemingly pricier than the last. (An off-market lot sale is pending.)

Blowing away all records for the area is the most recent sale: 632 12th St. (3br/3ba, 3000 sq. ft.), an 80s build with mostly cosmetic updates, up near the top of the hill with some views.

They came…

Until last year, there was never such a thing as a $2.8M townhome east of Highland.

Now, it's happened 4 times.

The newest sale is on new construction at 408 32nd (4br/4ba, 2650 sq. ft.) an ultra-modern TH on the back half of the lot, where you might expect a Vista address.

List price: $2.800M. Sale price: $2.810M.

The home is very nicely executed, with a spa-like feel to the baths and a warm sophistication across the board. We thought it helped a lot that a simple, modern home like this was so tastefully decorated for presentation to would-be buyer – it's a very good argument for proper staging.

Views are nice, if not permanent, complemented by the classy old-Manhattan Spanish duplex across the street. (Click thru the listing pics to see the second…