It's been a year full of activity and occasional frenzies, and there are many more interesting sales to look at as 2012 draws to a close.
We'll look at each of several areas of Manhattan Beach separately, starting with the Sand Section.Strand Sales
There were 8
sales on The Strand this year, of which 4 were in the $5.2-$5.8m range.
|1712 The Strand|
Only one was a standout, top-tier, ready-to-go Strand residence: 1712 The Strand
(4br/5ba, 3350 sq. ft.). Not incidentally, it also commanded the year's highest Strand price: $10.5m
, way back in March.
Notable for different reasons were 2 long-running, hard-to-sell Strand options that did close this year, finally: 2920 The Strand
in January), a 4-year-running listing where a remodel project is now getting under way, and 4320 The Strand
, a small, old ocean-front duplex on a lot that's not fully half size ($2.2m
Many of this year's Strand offerings and sales were covered in our "Post-Summer Strand Update
." Non-Strand Notables: The 128's
In a curious coincidence, 2 homes built by the same builder and both with the number 128 in the address sold at the top prices in the Sand off
(5br/5ba, 4000 sq. ft.) is a new "tropical contemporary" in one of the best locations in town, period, given that 18th is probably the best of the teen streets west of Highland.
The sale wasn't quick – 5 months on market – and it didn't crack $6m, as had been the original ambition. The final price: $5.650m
Selling for more: 128 5th
, which sold in June for $5.850m
. (See "128 5th Closes Under $6m
.") That one's a different case, in that it first sold new in May 2011 for $5.250m, then was fully furnished and customized at very great cost, though never lived in. (See our review from late April
.) It hit the market at $6.799m this Spring and came down nearly $1m to sell. More Notables
There's no way to capture the whole Sand Section in one brief post, but we'll bump along some additional highlights.
New Plateau High
|417 34th: $3.230m|
: 417 34th
(4br/5ba, 4300 sq. ft.) is new construction marking the first Plateau sale over $3m, and healthily so at $3.230m
.France by Way of the South End
: Just this week they sold 416 2nd
(5br/6ba, 5250 sq. ft.). We raved about this one in September
, calling it "a huge labor of love... literally loaded with features and amenities from overseas. Very old stuff, mixed with very new."
The sale was impressive, but $500k short of asking: $3.650m
: A notable surprise in 2012 was seeing 311 32nd
, an ocean-view TH, sell not once, but twice. First, for $2.6m in April, then again for $2.8m
in early December.
Old's Cool, and Sold (Cool)
: 3116 Alma
(4br/2ba, 2500 sq. ft.) first drew our notice in November 2007, though it didn't sell then. (See "Old's Cool
;" that review is still a good read today.)
This year it sold for $1.875m
in May. South End Bidding Wars
: Lot values went mad in the South End, progressively as the year dragged on. As examples, consider 521 2nd
(multiple offers, won by Dave's clients at $1.370m
in May), 413 7th
on a flat family walkstreet (multiples, off-market, $1.982m
), 512 4th
(15 offers, $1.625m
Those last 2 sales suggest a 20%+ premium for a flat walkstreet location – sounds about right to these ears. Early Indicator
: 221 30th
(5br/5ba, 4550 sq. ft.) sold quickly early in the year, and — in retrospect — may have been one of the harbingers of the year's warm-to-hot market.
It's a big, late-90s custom build with some pretty great views currently. (See our review from February
.) It lasted all of 4 DOM in February, and closed within 2% of asking at $3.350m