Big Strand Listing Finally Sells

By Dave Fratello | December 20th, 2018

108 The Strand Manhattan Beach CAThey have finally sold the huge listing at 108 The Strand.

It's hard to properly count the Days on Market for this listing, but we definitely first saw this one in February 2016, asking $19.985M.

It didn't sell after the first 6 months, and the sellers must have had a version of this thought:

This isn't working. We need to find some kind of celebrity to help us.

Before long, 108 The Strand had switched from a local broker in Manhattan Beach to a TV reality-show broker.

108 The Strand Manhattan Beach CAA reality show. For reals.

That was way back in September 2016.

After that, they waited.

And waited.

Take a moment to think about how the world has changed since September 2016.

108 The Strand Manhattan Beach CAThere have been 6 separate listings of the property by the same reality-show folks in that time. Some were immediately followed by a new listing (bogus re-lists to wipe out DOM) and, a couple times, with a cancellation followed by a few months off market.

The price has dropped oh-so-slowly from a bold, initial $19.995M to $15.999M before they made a deal. That basically $4M in cuts.

And now the sale has closed quite a bit lower, for $15.250M, which is $4.745M below the start price.

It's 24% below the start, in fact.

108 The Strand Manhattan Beach CAThat reality casts light on the initial, televised/dramatized pricing discussion among the agents and broker noted in this longer MBC post:

Tracy: "I think it’s all day 19.995, I think if we keep it under 20 million we’re safe."

108 The Strand Manhattan Beach CAJosh: "I think it’s gotta have an 18 in front of it, just something with an 18. I just don’t want to be on the market in 150 days, or 180 days."

Tracy: "But you have to face the fact that that’s what it takes to sell these houses!"

Broker Steve: "I really want to be sure that we get them the most for this house. So I want to go with the 19.995. It will be the best for the seller, and you guys gotta get that done."

OK, now, present day.

108 The Strand Manhattan Beach CAYou can see why someone was going to want to buy 108 The Strand (5br/8ba, 6900 sqft.). It is a supersized, ultramodern playland with multiple levels in a perfect location in the quietest part of the South End.

And it was on TV!

(Disclosure: Dave was on TV, in 108 The Strand. For 1.5 seconds.)

Strand life may be a fishbowl life, but y'know, maybe some people like to strut.

Some people like to strut, like to have a supersized South End Strand house, and like to save $4.7M for something else.

That was the kind of buyer they finally found for 108 The Strand.


Note: This story was updated to reflect the sold price. The initial post went live when the home was only showing as being in escrow.

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