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 2304 The Strand BD/BA 3br/3ba SQFT 2360 sqft LOT 3497 PRICE $9,950,000 $PSF $4,216 DOM 2 DOM START $ $9,950,000 START 01/18/19
Address 2522 The Strand BD/BA 3br/3ba SQFT 2660 sqft LOT 3498 PRICE $5,900,000 $PSF $2,218 DOM 122 DOM START $ $6,900,000 START 09/21/18
Address 3400 The Strand BD/BA 5br/6ba SQFT 5468 sqft LOT 3502 PRICE $18,300,000 $PSF $3,347 DOM 192 DOM START $ $19,300,000 START 07/12/18
Address 3416 The Strand BD/BA 5br/5ba SQFT 3934 sqft LOT 3494 PRICE $11,995,000 $PSF $3,049 DOM 283 DOM START $ $12,395,000 START 04/12/18

Please see our blog disclaimer.

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