Sand Action

Posted by Dave Fratello on Wednesday, August 19th, 2009 at 4:09am.

Considering that it's Summer (for a little bit longer), and people are thinking about the beach, and the fact that the Sand Section has the most SFR listings in MB, we'd like to see a little more action than we're seeing.

But there's a silver lining forming on the marine layer's grey clouds.

Two sales in the last few days:

501 4th (5br/5b, 4100 sq. ft.) is on a South End corner lot along sleepy Ingleside, a newer (2005) build with big bedrooms plus an elevator.

Purchase price in June 2006: $2.750m, before the owners did some additional customization.

Priced continuously at $2.599m (-$151k) for 4 months before going into escrow this week.

There are some quirks to the home, but not big strikes. Someone gets a nice, newer home amid the walkstreets just about in time for school to start.

Oh, and then there's this one other one.

1800 The Strand is changing hands.

This is the home MBC called a reason for "a little civic pride" in MB versus some other LA beach communities. (See "Another Strand Titan" from April.)

It's a 5br/6ba, 5325 sq. ft. contemporary at the junction of 2 of MBC's "Great Streets," The Strand and 18th (see "Great Streets: 18th St. (Sand)"). The listing called it "arguably the best corner lot on the Strand," and we didn't argue.

The start price of $13.5m came down a bit to $12.9m in recent weeks. We don't yet know where the price will wind up, and there is a cloud of secrecy around the deal that may keep a lid on things for quite a while. The listing was even canceled off the MLS rather than announced with fanfare.

1800 The Strand is nonetheless likely to set a new record price for an open-market sale of a single lot or home on the city's prestige oceanfront walk.

Some other recent big-dollar Stand sales:

1212 The Strand (4br/5ba, 4600 sq. ft.) is a modern steel-and-glass home with that sold for $10.7m after less than two weeks on the market in September 2007.

That was the highest-priced sale of that year in MB, and we never found any evidence contradicting the notion that it was the priciest Strand sale ever.

This year, near to 1800 The Strand, a new home at 1712 The Strand (3br, 4500 sq. ft.) recently sold for $9m. (See "The Strand for a Mil, or 10.")

It's not hard to imagine the larger, corner-lot house at 1800 going above $11m. Perhaps we'll get the confirmation later.
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