512 Pacific Gets $5.5M; Now, Neighbor?

Tuesday, February 9th, 2016

It's like yesterday... just 2 weeks ago.

The Hill Section lot sale at 512 Pacific came to market determined not to waste one minute. And there was no time wasted.

The starting price for this 11,400 sqft. plot was $4.599M, a "come hither" price if there ever was one. (In our blog post, we called the number "a clarion call that echoed across the Manhattan Beach landscape.")

Multiple offers came immediately, the price shot up, and the sale has now closed. My, that was all quick.

Closed price: $5.500M on Tuesday.

Now, what does that say about the neighbor, 500 Pacific, now in its 5th month on the market, priced 14% higher today at $6.280M?

As we said in that prior post, "the lots are the same. Both 11,400 sqft. Couldn't be more comparable unless…

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Based on information from California Regional Multiple Listing Service, Inc. as of February 10th, 2016 at 4:30pm PST. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.