One of East MB's newest listings is seeking beach-adjacent type numbers.
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1200 10th - computer sketch
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That's
1200 10th, slated to be a new 5br/6ba, 4600 sq. ft. Cape Cod at some point in, roughly, 2013.
Asking price, pre-completion:
$2.899m.
For East MB, on a standard 7500 sq. ft. lot.
To which you might say, "good…
One of East MB's newest listings is seeking beach-adjacent type numbers.
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1200 10th - computer sketch |
That's
1200 10th, slated to be a new 5br/6ba, 4600 sq. ft. Cape Cod at some point in, roughly, 2013.
Asking price, pre-completion:
$2.899m.
For East MB, on a standard 7500 sq. ft. lot.
To which you might say, "good luck with that," but for another – simultaneously posted – new East MB listing, which is already in escrow.
That'd be
1626 1st, comparably sized at 5br/5ba, 4950 sq. ft., which the same developer sold pre-construction, with a posted price while in escrow of
$2.899m. (There's that number again.) It's also due to be finished in 2013. (There's that number again.)
Folks are betting on the future.
What about the past?
For context, there's
just one sale of a comparably sized house on a comparably sized lot
ever in East MB to eclipse either of these new offerings.
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1622 Gates - $3.1m in June 2007 |
The eclipser:
1622 Gates (5br/6ba, 4850 sq. ft.), which sold new in June 2007 for
$3.1m.
Well, someone has to mark out the peak.
There's little competition anywhere near $3m, but right about the same time as that $3.1m sale there was another at
$2.830m (
1602 6th), while late in 2006 there was another at
$2.800m (
1603 5th). Both of those $2.8-ish houses had 8600 sq. ft. corner lots.
So, if you were to say, today, "these $2.9m houses now in East Manhattan make me think of 2006," you'd be in the right territory. THAT was a crazy bubble year. And 2012?
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1544 Voorhees |
Previously,
1544 Voorhees scraped out a surprising height this year by hitting
$2.6m for a larger (6br/6ba, 5135 sq. ft.) home on, again, a standard-sized East MB lot (7500 sq. ft.)
Why, just a month ago
we said here at MBC:
[L]ast week's sale at Voorhees has just raised the bar, lifted the boats, bumped up the comps – however you want to say it.
It could be a bullish sign for East MB after a few years without sales in the mid-to-high 2's.
We did not believe, then, that new construction pushing $3m was right around the corner, but this has been a year of surprises, hasn't it?
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of May 5th, 2024 at 7:50pm PDT. 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.