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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Please see our blog disclaimer.

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 2316 The Strand BD/BA 6br/7ba SQFT 5475 sqft LOT 3503 PRICE $17,500,000 $PSF $3,196 DOM 2 DOM START $ $17,500,000 START 11/25/20
Address 1144 The Strand B BD/BA 3br/2ba SQFT 2470 sqft LOT 3328 PRICE $4,500,000 $PSF $1,822 DOM 4 DOM START $ $4,500,000 START 11/22/20
Address 2508 The Strand BD/BA 4br/6ba SQFT 4554 sqft LOT 3504 PRICE $12,950,000 $PSF $2,844 DOM 36 DOM START $ $12,950,000 START 10/21/20
Address 4216 The Strand BD/BA 5br/6ba SQFT 3825 sqft LOT 3510 PRICE $6,795,000 $PSF $1,776 DOM 42 DOM START $ $7,249,000 START 10/15/20
Address 3808 The Strand BD/BA 4br/7ba SQFT 4772 sqft LOT 3501 PRICE $13,500,000 $PSF $2,829 DOM 64 DOM START $ $13,500,000 START 09/23/20
Address 4117 The Strand (aka Ocean Dr) Drive BD/BA 5br/3ba SQFT 2804 sqft LOT 3500 PRICE $5,999,000 $PSF $2,139 DOM 69 DOM START $ $5,999,000 START 09/18/20
Address 4114 The Strand BD/BA 4br/6ba SQFT 2250 sqft LOT 3507 PRICE $4,750,000 $PSF $2,111 DOM 97 DOM START $ $5,495,000 START 08/21/20
Address 4230 The Strand BD/BA 3br/3ba SQFT 1606 sqft LOT 3500 PRICE $3,295,000 $PSF $2,052 DOM 121 DOM START $ $3,295,000 START 07/28/20
Address 1516 The Strand BD/BA 4br/4ba SQFT 4953 sqft LOT 3330 PRICE $18,900,000 $PSF $3,816 DOM 129 DOM START $ $18,900,000 START 07/20/20
Address 1920 The Strand BD/BA 5br/7ba SQFT 5574 sqft LOT 3340 PRICE $16,900,000 $PSF $3,032 DOM 188 DOM START $ $16,900,000 START 05/22/20
Address 3400 The Strand BD/BA 5br/6ba SQFT 5478 sqft LOT 3502 PRICE $14,900,000 $PSF $2,720 DOM 261 DOM START $ $15,900,000 START 03/10/20

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