East MB New Construx Record Coming?

By Dave Fratello | September 25th, 2018

High-quality new construction built on spec in East Manhattan Beach is something of a recent innovation.

Builders have been cleaning up in the last couple of years as $3M+ sales of new construction have become routine.

Indeed, the proliferation of $3M+ sales east of PCH Sepulveda last year fueled the rise in the citywide median home price.

Now one new home aims to leap over recent sales of new construction and establish a new high point.

1446 18th Street Manhattan Beach CA1446 18th (5br/6ba, 4710 sqft.) is near the crest of a hill near Begg Field and Polliwog Park, looking north to capture city and mountain views.

As has become standard, the home features a bright and very open floorplan, designer details, top-tier construction and a covered "outdoor room" with fireplace along with a large yard.

In other words, it's a fine home with the right sorts of features to put it in the running to grab the first-place ribbon.

So sure of themselves were the builders that they began far above any comparable sale with a start price of $4.075M.

No, in case you're wondering, no one has hit $4M or more for a conventionally sized home on a typical 50' x 150' (7500 sqft.) lot in East Manhattan Beach.

After 10 weeks (mostly Summer, which tends to be slower), they made one cut of $176K to $3.899M, and then got an offer. Now it's in escrow.

1350 23rd Street Manhattan Beach CAThe competition for top billing is 1350 23rd (5br/5ba, 4800 sqft.), a corner-lot home with a detached from "casita" (guest suite/office) and roughly similar style and features.

Somehow, that home qualified as exciting.

That's what we thought, but also what the market thought.

1350 23rd only registered 2 days on market and sold $51K over asking at $3.700M. That was in June this year.

Nearby neighbor 1400 23rd (6br/6ba, 4800 sqft.) also got $3.700M, back in October 2016. At the time, it may have seemed like an outlier, but that level keeps getting reached ever since.

Not at all incidentally, the same builders that made that splash with the first $3.700M sale at 1400 23rd are now the ones behind 1446 18th. You can't tell them what can't be done.

(Disclosure: Dave's had a friendly relationship with the builders after a client purchased one of their properties in the Tree Section.)

So if they sought $4M+ and cut to "only" $3.9M, can they close above $3.700M? Don't say they can't.

Below is a list of all recent sales of new or newer construction east of Sepulveda on conventionally sized lots, highest prices first. (Email subscribers will need to view this post in a browser to see the listings.)

New Construction Sales in East Manhattan Beach, 2016-18 (Highest Prices First)

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 1721 8th BD/BA 6br/6ba SQFT 4480 sqft LOT 8750 PRICE $3,950,000 $PSF $882 DOM 0 DOM SOLD SOLD 10/10/18 START $ $3,999,000 START 10/10/18
Address 1446 18th Street BD/BA 5br/6ba SQFT 4712 sqft LOT 7022 PRICE $3,850,000 $PSF $817 DOM 79 DOM SOLD SOLD 10/24/18 START $ $4,075,000 START 10/24/18
Address 1400 23rd Street BD/BA 6br/6ba SQFT 4800 sqft LOT 7445 PRICE $3,700,000 $PSF $771 DOM 21 DOM SOLD SOLD 10/26/16 START $ $3,775,000 START 10/26/16
Address 1350 23rd Street BD/BA 5br/5ba SQFT 4799 sqft LOT 7449 PRICE $3,700,000 $PSF $771 DOM 2 DOM SOLD SOLD 06/04/18 START $ $3,649,000 START 06/04/18
Address 1315 9th Street BD/BA 6br/8ba SQFT 5585 sqft LOT 7396 PRICE $3,650,000 $PSF $654 DOM 23 DOM SOLD SOLD 03/17/17 START $ $3,700,000 START 03/17/17
Address 1534 8th Street BD/BA 5br/4ba SQFT 4550 sqft LOT 7501 PRICE $3,600,000 $PSF $791 DOM 0 DOM SOLD SOLD 02/23/18 START $ $3,600,000 START 02/23/18
Address 1601 Nelson Avenue BD/BA 6br/7ba SQFT 5791 sqft LOT 8581 PRICE $3,550,000 $PSF $613 DOM 99 DOM SOLD SOLD 04/28/17 START $ $3,999,000 START 04/28/17
Address 1540 Curtis Avenue BD/BA 5br/5ba SQFT 4400 sqft LOT 7499 PRICE $3,455,640 $PSF $785 DOM 29 DOM SOLD SOLD 11/17/17 START $ $3,525,000 START 11/17/17
Address 1706 Nelson Avenue BD/BA 5br/6ba SQFT 4298 sqft LOT 7500 PRICE $3,450,000 $PSF $803 DOM 8 DOM SOLD SOLD 05/24/18 START $ $3,500,000 START 05/24/18
Address 1230 8th Street BD/BA 5br/5ba SQFT 4505 sqft LOT 7455 PRICE $3,425,000 $PSF $760 DOM 1 DOM SOLD SOLD 11/04/16 START $ $3,495,000 START 11/04/16
Address 1450 23rd Street BD/BA 5br/7ba SQFT 4755 sqft LOT 7493 PRICE $3,383,000 $PSF $711 DOM 12 DOM SOLD SOLD 07/06/17 START $ $3,535,000 START 07/06/17
Address 1457 18th Street BD/BA 5br/4ba SQFT 4550 sqft LOT 7000 PRICE $3,325,000 $PSF $731 DOM 146 DOM SOLD SOLD 10/31/17 START $ $3,565,000 START 10/31/17
Address 1633 Nelson Avenue BD/BA 5br/6ba SQFT 4430 sqft LOT 7500 PRICE $3,290,000 $PSF $743 DOM 1 DOM SOLD SOLD 11/13/17 START $ $3,300,000 START 11/13/17
Address 1400 21st Street BD/BA 5br/5ba SQFT 4562 sqft LOT 7443 PRICE $3,225,000 $PSF $707 DOM 101 DOM SOLD SOLD 01/13/17 START $ $3,349,000 START 01/13/17
Address 1321 21st Street BD/BA 5br/6ba SQFT 5061 sqft LOT 7495 PRICE $3,125,000 $PSF $617 DOM 7 DOM SOLD SOLD 12/02/16 START $ $2,999,000 START 12/02/16
Address 1541 Nelson Avenue BD/BA 5br/5ba SQFT 4430 sqft LOT 7500 PRICE $3,125,000 $PSF $705 DOM 10 DOM SOLD SOLD 05/02/17 START $ $3,199,000 START 05/02/17
Address 1304 18th Street BD/BA 6br/6ba SQFT 4771 sqft LOT 7002 PRICE $3,100,000 $PSF $650 DOM 78 DOM SOLD SOLD 01/19/17 START $ $3,495,000 START 01/19/17
Address 1657 Nelson Avenue BD/BA 5br/6ba SQFT 4354 sqft LOT 7500 PRICE $3,100,000 $PSF $712 DOM 128 DOM SOLD SOLD 06/23/17 START $ $3,350,000 START 06/23/17
Address 1747 Gates Avenue BD/BA 5br/6ba SQFT 4429 sqft LOT 7500 PRICE $3,075,000 $PSF $694 DOM 52 DOM SOLD SOLD 06/29/17 START $ $3,199,000 START 06/29/17
Address 419 Altura Way BD/BA 5br/6ba SQFT 3577 sqft LOT 6912 PRICE $3,017,000 $PSF $843 DOM 374 DOM SOLD SOLD 11/15/17 START $ $3,495,000 START 11/15/17
Address 1130 5th Street BD/BA 5br/7ba SQFT 4600 sqft LOT 7500 PRICE $2,900,000 $PSF $630 DOM 14 DOM SOLD SOLD 11/04/16 START $ $2,999,999 START 11/04/16
Address 1652 11th Street BD/BA 5br/5ba SQFT 3534 sqft LOT 7499 PRICE $2,900,000 $PSF $821 DOM 3 DOM SOLD SOLD 04/10/17 START $ $2,895,000 START 04/10/17
Address 700 N Redondo Avenue BD/BA 5br/5ba SQFT 4015 sqft LOT 5818 PRICE $2,875,000 $PSF $716 DOM 3 DOM SOLD SOLD 12/22/17 START $ $2,890,000 START 12/22/17

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