People love to love the flat walkstreets in Manhattan Beach's South End.
Spec builders and folks who want to build for themselves keep paying more for the land.
The latest eye-opening land trade is a lot that went to a spec builder at 504 8th St. for $2.000M. The sale posted recently in the tax records.
The buyer is the development LLC that recently built and sold 340 6th St. (5br/5ba, 3600 sq. ft.), a modern Plantation style home.
The builder paid $1.825M for the dirt there on 6th back in July 2012. The completed home sold for $4.235M in December 2013, hitting a new high on a PPSF basis for the flat family walkstreets.
However, that sale fell slightly short of the off-market sale price on a new home at 337 7th (4br/4200 sq. ft.) at $4.500M. (See "…