Highest East Manhattan Sales of 2016 - So Far

By Dave Fratello | December 20th, 2016

Last year, several of the top sales in East Manhattan Beach were lot sales. (See our post, "High Sales of 2015 in Manhattan Beach: East MB.")

This year, in an unrelated development, most of the top sales were new construction. (These weren't built on the huge lots sold last year.)

We continue our look at the top sales of the year – so far – with this rundown on the highest-priced sales east of Sepulveda in 2016.

1400 23rd Street Manhattan Beach CA1400 23rd (6br/6ba, 4800 sqft.) is new construction on a corner lot, with a large yard and many, many artistic details that helped make this top-tier build literally the priciest comparable sale ever in East Manhattan: $3.700M.

(This is the high for a 7000-7500 sqft. "typical" large East MB lot.)

Described officially as a "contemporary beach plantation style dream home," the home drew this rave from MB Confidential in September, when it debuted:

1400 23rd Street Manhattan Beach CA"With seriousness, quality and art to it, this enormous home delivers just about everything buyers say they want: Big open floorplan opening to the yard, top-tier counters, finishes and appliances, bonus spaces (a 6th bedroom, covered patio with fireplace and a spot for a TV) and much more."

We added: "It's very hard to find most of this west of the Highway; there will always be compromises and higher prices if you're going to end up in the Tree, Hill or Sand Sections."

Ask $3.775M, the sellers did begin slightly high, but it did not take very long for the exact right buyer to step up and pay.

With the sale, 1400 23rd takes over the #1 spot for record sales for East Manhattan. The next two on the list are both from last year:

1131 6th (5br/5ba, 5025 sq. ft.) at $3.600M (Nov. 2015)

1430 18th (6br/7ba, 4600 sqft.) at $3.300M (Oct. 2015)

1200 10th Street Manhattan Beach CA1200 10th (5br/6ba, 4745 sqft.) was new construction back in 2012.

The owners had added upgrades, including a pool, and the home showed great this year.

Maybe the shot high at $3.995M to begin, but they did close at an impressive $3.600M in November.

In case you needed any reminder, yes, the market has risen since 2012-13. This home was listed in April 2013 for $3.199M, but took 5 months to close for $2.729M (-15%). 

In Aug. 2013, we noted that this property was poised to set a high for the rising market. (See "East MB New Construx, New Heights.") When it finally closed, it was 5th on the all-time list for East Manhattan, falling behind some Mediterraneans sold in '06-'07. Now, as a resale, it's tied for 2nd place overall.

We also said in Aug. 2013: "it will be a new height for this market, and a solid endorsement of the new 'plantation' style as well."

Remember "Plantation?"

1230 8th Street Manhattan Beach CA1230 8th (5br/5ba, 4500 sqft.) is new construction in a "Custom Nantucket Beach style," per the official listing description.

It sold pre-completion and came to the MLS as a done deal.

Sold price: $3.425M.

Click the address for more photos.

Other top sales this year that were also new construction:

1321 21st (5br/6ba, 5050 sqft.) at $3.125M.

1431 18th (5br/6ba, 5275 sqft.) at $3.000M. (Launched at $3.999M.)

As we close out 2016, there have been:

  • 14 total sales ever in East MB at $3.000M or higher (homes on 7000-7500 sqft. lots)
  • 6 at $3.000M or higher in 2016
  • 3 more sales between $2.900M-$3.000M, all 2015-16

At this point, the single $3M+ sale from the earlier era looks almost quaint.

1622 Gates (5br/7ba, 5700 sqft.) had been the top sale in East MB for quite some time, with a 2007 closing at $3.199M. That 2007 sale now ranks 11th.

What's more, when 1622 Gates came back to market in Spring 2015, it wound up selling for less: $2.889M.

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