Big East MB Deal Falls Out, Now 'Cheapest'

By Dave Fratello | February 27th, 2015

1321 Voorhees Avenue Manhattan Beach CAIt was 4 weeks ago when we advised MBC readers to go take a look at 1321 Voorhees (6br/5ba, 3600 sq. ft.). It would be your only chance, it seemed, because the home was in escrow already.

In escrow... and at a big number, $2.795M, quite a feat for a home on a smaller-than-standard East MB lot (5200+ in this case).

Our opinions about this custom "plantation" home haven't changed, but that first buyer is gone, the escrow is canceled, and 1321 Voorhees is back on the market, looking for a new buyer. (You?)

[ UPDATE: Saturday, 1321 Voorhees went back into escrow. The rest of this post continues as originally run. ]

While it's out there for a second run, suddenly, it's notably the least-pricey East MB new construction option on the open market.

Right next to it, in terms of lot size and home specs, is the new-construction listing at 1304 Lynngrove (5br/6ba, 3750 sq. ft., 5400 sq. ft. lot). That  "gorgeous custom contemporary" home is offered at $3.199M to begin. (See "Pushing $3M in Liberty Village?")

Despite that convincing architectural rendering, the home itself doesn't exist yet. It's still being built. Projected finish is Sept. 2015.

Whereas, you can walk through and move into 1321 Voorhees right now for $400K less.

Then there are 2 other new construction projects that listed recently, both on full-size (7500 sq. ft.) East MB lots, and pushing the ceiling so high, you can't quite see it through the clouds.

1131 6th (5br/5ba, 5025 sq. ft.) was first, coming out with a $4.499M start price.

It's being called a "Plantation Contemporary." They're also adding some new, must-have features, including security system and home automation.

Location is just a few doors east of Sepulveda. Intriguingly, the listing makes this note: "One block from the Manhattan Beach Hill Section."

Following shortly thereafter was 1321 21st, more in a Mediterranean style.

That 5br/5ba, 5060 sq. ft. home cut-and-pasted the start price for 1131 6th: $4.499M.

Same builder, so it's not a huge surprise that both have been priced the same. Will the market will come to them?

Here's a rundown of the most recent new construction sales in East MB:

  • 1416 3rd (5br/5ba, 4765 sq. ft., 6650 sqft. lot) at $3.199M in Dec. 2014
  • 1420 3rd (5br/5ba, 4765 sq. ft., 6650 sqft. lot) at $2.899M in Nov. 2014

Lot size is one of the big factors to consider in comparing these.

Back again to 1321 Voorhees. It was a month ago that heads were spinning over their big number.

Now it's the lowest-priced option. Time does funny things, doesn't it?

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