Both Strand 'Battle' Contestants Have Now Quit

By Dave Fratello | May 4th, 2016

Did you ever order Pay-Per-View of some big fight, lay out a hearty spread of food and drink, gather friends and family around the TV, and then watch the whole thing end in a first-round knockout?

Ooof. "Well, thanks, everyone, for coming..."

Not quite so suddenly as that, we've now seen a battle on the Manhattan Beach Strand develop, then fizzle.

It all began when 1000 The Strand (pictured) launched in June 2015 at $28.900M. That price seemed, shall we say, wishful, even though the lot is nearly 5000 sqft. and obviously in a prime location. (Yes, that's the pier in frame there.)

Here at MBC, we devoted a post to the huge asking price: "$29M? Can We Talk?" We tried to infer possible lot values from other recent Strand sales, but could not quite get there. (Achem.) Here's one quote:

"The argument for a gigantic, stratospheric, moonshot-crazy number for 1000 The Strand is, essentially, scarcity... And yet, scarcity will only take you so far."

Things got more interesting with the entry to market, in October 2015, of 2722 The Strand, midtown just past Bruce's Beach Park.

Measuring in at 6925 sqft., it's a bit larger than the size of two standard 3300 sqft. Strand lots.

Start price: $28.500M.

We announced the "Battle of the Big Strand Lots" in late October 2015, stocked up on popcorn, and settled in to see which of these "Titans" would find a buyer.

You had to figure that any buyer willing to look at one would look at both. Which would you prefer? The 5000 sqft. lot looking at the pier, just steps to downtown? Or the double lot further north?

Would one listing try to undercut the other to be more attractive? 

Well, something happened before it all ended.

1000 The Strand made two price cuts totaling $2.4M, bringing the price down to "only" $26.500M.

But the battle wasn't really joined, and buyers stayed away. Crickets chirped. 

In mid-April, 2722 The Strand quit the market after 6 months. It leased out for $15,000/mo.

This week, 1000 The Strand quit, too.

So it's all over for now. But when and if we see either one come back, here at MBC we'll link back to the history and see where it goes.

Meantime, anyone need a bunch of popcorn for a party?

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Missed those two Strand homes? Have a look at all Active listings:

Manhattan Beach Homes for Sale on The Strand

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 4016 The Strand BD/BA 4br/5ba SQFT 3500 sqft LOT 3465 PRICE $9,300,000 $PSF $2,657 DOM 17 DOM START $ $9,300,000 START 06/20/22
Address 3404 The Strand BD/BA 8br/8ba SQFT 5568 sqft LOT 3507 PRICE $14,250,000 $PSF $2,559 DOM 22 DOM START $ $14,250,000 START 06/15/22
Address 308 The Strand BD/BA 6br/8ba SQFT 6978 sqft LOT 3336 PRICE $36,000,000 $PSF $5,159 DOM 42 DOM START $ $36,000,000 START 05/26/22
Address 3000 The Strand BD/BA 3br/4ba SQFT 3949 sqft LOT 3514 PRICE $17,000,000 $PSF $4,305 DOM 50 DOM START $ $17,000,000 START 05/18/22
Address 2522 The Strand BD/BA 3br/3ba SQFT 2660 sqft LOT 3498 PRICE $8,500,000 $PSF $3,195 DOM 107 DOM START $ $8,500,000 START 03/22/22
Address 3216 The Strand BD/BA 5br/8ba SQFT 7454 sqft LOT 3494 PRICE $30,000,000 $PSF $4,025 DOM 168 DOM START $ $30,000,000 START 01/20/22

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