What's Moving These Past 2 WeeksPosted on Monday, January 10th, 2011 at 10:29pm.
At MBC, we've been busy looking back at 2010, and haven't yet delivered an update on current sales activity. So let's now look at several late-2010, early-2011 deals that have just been posted.
Double Lots: Both of the double-lot Tree Section homes we mentioned 6 weeks ago in "Double the Fun?" are in escrow.
|Back Yard at 2912 Pacific|
Priced at $1.599m, the home was arguably being offered near lot value, though clearly above. It took about 3 weeks to put the home in escrow. (Status still says "backup offers" are welcome.)
The other is 2600 Pine (4br/2ba, 1550 sq. ft.), priced at $1.749m and running 3 months before finding a buyer. It's got the same lot size but a house needing a total rehab job. It may work out that the lot gets split in 2 for at least one spec home, but spec development has been mostly absent recently, and that's a big bet, especially if the land cost works out near that start price. One to watch.
2808 Manhattan Ave. (4br/4ba, 3300 sq. ft.) is spectacular new construction that launched in the Summer at $3.299m and never took a price cut. Big views, a voluptuous, modern build, plus a fairly quiet, out-of-the-way location are all nice assets.
Meantime, 473 31st (4br/5ba, 4000 sq. ft.) up on the plateau is a sharp, custom modern that was new in late 2007. Having sold back then for $2.8m, it launched this past summer for a tad more ($2.925m), but took a battery of cuts, all the way down to $2.499m before inking a deal right after Christmas.
473 29th, a comparably sized, more conventional home that quit in early December at the same price, if 29th comes back to market in 2011.
2913 Pacific after it launched at $1.1m in early December. As we said in the story teeing up the poll, the one-story 60s structure (3br/2ba, 1900 sq. ft.) "is no teardown, it's just a bore." (Admittedly we saw it before some staging jazzed it up.)
The buyers weren't the least deterred; within 3 weeks, there was a signature on the dotted line. We'll compare the 2913 Pacific poll results (which we kept but hadn't yet published) with the actual sales figure when the sale closes.
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