There are currently 43 blog entries related to this category.
Tuesday, August 20th, 2013 at 5:13pm. 373 Views, 0 Comments.
The Manhattan Beach real estate market is beginning to get its share of spec construction projects here and there. Two ocean-view beach homes that are emblematic of this new wave have now sold above $5 million.
This new run of construction is nothing like the wave of bank-funded speculative projects built in the early late-90s or early 2000s. Generally you see just one at a time, or a couple/few at a time, by each investor (or group), boasting quality names for the architecture and building. Investors are working on a small scale but building for top-dollar return.
And, like the twin projects we'll discuss here, the style of the new builds speaks to what today's high-end buyers want.
Here's a hint: It ain't Caliterranean.
224 6th (5br/5ba, 4100 sq.…
Wednesday, May 1st, 2013 at 8:14am. 3,339 Views, 0 Comments.
We've already got the 2 big (current) college football coaches in Manhattan Beach.
Now the Lakers' (current) coach, Mike D'Antoni, has come to town.
In a recent post on "New 100-Block Heights" we mentioned this home:
[This is] a bigger-than normal home thanks to subterranean space, with 5br/5ba and 5000 sq. ft.
Location? Nearly at The Strand, with a walkstreet on one side, the corner at Ocean Ave. (no neighbor to west, in other words) and a fully built Strand house across the way that seems "low" and affords even better views from the top level of 116 25th.
And oh, what a top level that is – very high ceilings, tons of
Tuesday, April 9th, 2013 at 11:53am. 746 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 license.)…
Friday, February 8th, 2013 at 2:46pm. 690 Views, 0 Comments.
Tight inventory will do that. It's as if you can't fail to sell these days. Even properties that are not on the market.
Two odd houses that have sold recently come to mind.
505 7th (3br/4ba, 2750 sq. ft.) has sold off market.
This is a home that ran 5 months on market in 2011 without success.
Here at MBC, in July 2011, we called it "a curiosity in terms of design and layout," noting "echoes of the home's 70s vintage supplemented by newer updates."
This was a fairly gentle way of saying the home was peculiar and needed work. We toured it with clients who'd have loved to be down on the flat walkstreets, but people just…
Tuesday, September 25th, 2012 at 1:59pm. 484 Views, 0 Comments.
We'll take a look at several listings that have quit this year.
Some clearly did not suit the market, some were overpriced, and some just got yanked due to the sellers' own change of circumstances – like not finding anything worth trading up or down to in a low-inventory market. (The math on that would be: No inventory = No sale.)
No doubt we'll see some again next year.
217 9th (3br/3ba, 1725 sq. ft.) didn't surprise us this time.
We've noted before that this modern/green SFR surprised us with its $3.0m sale when new in 2007. We were prepared to be shocked again if it traded this year, but didn't really expect it.
Tuesday, August 16th, 2011 at 6:05pm. 858 Views, 0 Comments.
|View down winding 18th St.|
Drink in the ocean views, hear the waves lapping at the shore, brace yourself against the cool summertime breezes.
All around you, find a mix of homes trying to maximize space and views, with a few very, very original cottages – early 1900s originals – barely hanging on, reminding you that Manhattan Beach was once a difficult beach frontier, before those $100 speculative plots ballooned in value to $2m, $3m or more.
These are the few prime walkstreets north of downtown, 16th-20th St., a little pocket with some of MB's choicest beach-close properties. (Note to sticklers: We'll count 20th St. in the "teens" for purposes of this…
Thursday, May 19th, 2011 at 3:41am. 1,068 Views, 0 Comments.
The lot was then called 441 6th Place, at the corner of 7th/Ingleside. It hosted a little home and garage with a noteworthy cactus garden between. The dirt sold in Jan. 2010 for $1.5m.
The grandest execution of "British Colonial" – 212 The Strand, the first and last triple-lot on MB's beachfront. (See "Big, Beautiful, Too Much?")
At 441 6th, after all the searching for a perfect lot, and all the work building a…
Wednesday, April 27th, 2011 at 6:23pm. 389 Views, 0 Comments.
Neighboring 316 8th – a corner lot of the same unusually large size – had sold for $2.150m in Sept. 2009.
324 8th did make a quick deal, but for much less than asking, and about 5% more than the neighbor had sold for during a trough for the local market.
324 8th's sale price: $2.255m (-$345k/-13% off start). That's equivalent to exactly $1.5m for a standard-size lot.
And here come the 'dozers.
Tuesday, March 29th, 2011 at 10:45pm. 335 Views, 0 Comments.
This week there's one
We took note of the listing when it was new because it's a 2006 (peak-year) purchase looking for a 2011 resale for slightly more than was paid 5 years ago. (See "Not Rewinding on 34th.") If they were to pull that off, it'd be some kind of news, with most resales these days closer to 2004 prices.
Here's the recent history:
- Aug. 2006 sale price (public records): $2.925m
- Sept. 2006 sale price (MLS): $3.000m (inflated for reporting purposes because buyer's agent did not take a
Monday, March 28th, 2011 at 9:10pm. 412 Views, 0 Comments.
In "Flat But Up," we noted that the next-door lot at 316 8th – same unusually large size – had sold for $2.150m in Sept. 2009. It's now a construction site. When they finish the home there, it could be worth $4m or more.
So here came 324 8th, set in off Crest by one (and a half) lot(s), asking for 21% more than the neighboring lot had gone for, with a start at $2.6m.
A deal posted last week at 324. From what we're hearing, the sellers got a bump over the corner-lot neighbor's price, but not quite the huge bite they were looking for.
Though we haven't got the actual deal price, we'll expect something nearer to…