Battle of the Big Strand Lots Begins

By Dave Fratello | October 20th, 2015

Who doesn't love a battle of the titans?

The two priciest properties in Manhattan Beach now are both listed over $28 million. And both are (meant to be) priced at land value.

1000 The Strand Manhattan Beach CAOne, 1000 The Strand, is about a 5000 sqft. corner lot right near the pier. In its 5th month on market, the list price remains the same as on Day 1: $28.900M. (See "$29M? Can We Talk?")

For all this time, 1000 The Strand has occupied the field alone. If you want a prime, oversized waterfront lot, this has been your only choice.

Enter the challenger.

2722 The Strand Manhattan Beach CA2722 The Strand is a true double lot.

Measuring in at 6925 sqft., it's actually a trifle more than the size of two 3300 sqft. Strand lots.

The mid-town location is just past Bruce's Beach Park.

Start price: $28.500M.

Oh, you can just hear the contenders snarling at each other.

"I've got more land for less money!"

"Well I can see the pier from here!"

"No traffic, no tourists where I'm at."

"Maybe, but where do you go when you're hungry or thirsty?"

And on it goes.

The truth is, no one knows if either one is priced right, or what a buyer will do.

There are a lot of very wealthy buyers for Manhattan Beach real estate, to be sure, but the number willing to plunk down almost $30M for dirt remains small.

And now those buyers – assuming there's more than one – have two choices.

How do either of these Strand lots stack up, pricewise, against anything comparable?

We kind of already detailed that out in our first post about 1000 The Strand, so we're going to bounce you over to that post for more.

The short answer is: There's no precedent. But in 2015 in Manhattan Beach, does that fact matter to anyone?

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