Sand Loses One, Gains One

Posted by Dave Fratello on Tuesday, June 30th, 2009 at 5:46am.

Not every coming and going among local RE listings deserves a mention, but today, two do.

It's hard to believe, but it was more than 300 days ago that a double-lot on a flat walkstreet was proposed for a mega-new dream home project at 412 8th. (That's an artist's rendering of the possible new home on the right.)

MBC wrote that up in "2 Are Better Than 1," openly wondering whether maybe a "Hill Section home" like this one really belongs in the Hill Section, not on a cozy walkstreet near downtown.

The project has been listed at $8.5m all along, but it canceled Monday. We're not sure why; will report back when we know more.

One high-end loss was met by another high-end gain.

There's another new Strand listing: 2920 The Strand (7br/7ba, 5675 sq. ft.).

It wasn't so long ago that we saw zero listings on the beachfront. Nothing was for sale, or homes were sold off-market. Options keep growing now.

2920 is the biggest (home size and lot size), the oldest (1988 build) and the, achem, cheapest of 3 roughly similar Strand listings, coming out of the gates at $12.5m. Check that decimal point – yes, $12.5m.

The others are a resale at 1800 The Strand ($13.5m) and a new home at 3516 The Strand ($13.999m). (See "Another Week, Another Titan.")

Worth noting: 2920 The Strand was purchased somewhat recently – in July 2006, for $9.0m. Yes, that'd be a 39% markup over the 2006 price. Great deal?
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