How Many East MB Broken Records?

By Dave Fratello | October 23rd, 2019

East Manhattan Beach never saw a home on a typically sized lot sold over $3M until 2007.

And then, not again until 2014.

Now, we're up to 45 homes east of the highway netting $3M or more.

Most (34) were new at the time of a sale over $3M.

Back in 2015, East Manhattan saw the first home sold at $3.600M.

In 2016, $3.700M was hit.

Late in 2018, $3.800M was hit ($3.850M, actually).

Wow, would any house ever sell for $4M?

As you may know, the answer to that is a definitive "yes."

1320 9th Street Manhattan Beach CAA total of 3 East Manhattan new construction homes have sold over $4M this year:

First, 1320 9th (6br/7ba, 4900 sqft.) at $4.250M in June, then

1643 8th (5br/6ba, 4835 sqft.) at $4.150M in July, and

1755 8th (5br/8ba, 4835 sqft.) at (ready?) $4.465M one week later in July.

These developments have encouraged sellers to push even higher.

If $4M wasn't a ceiling, what is? Maybe $4.5M?

Or maybe $4.750M?

1619 9th Street Manhattan Beach CAOne listing of basically the same size as the three $4M+ sales is out there asking $4.790M.

It's 1619 9th (5br/6ba, 4950 sqft.).

One oversized spectacle of a home at 1751 8th (6br/6ba, 5825 sqft.) with basement, home theater and pool, is at $4.895M.

Its good luck charm: Being next door to the record-holder (1755 8th) and newly built by the same team.

1246 10th Manhattan Beach CAAnd then, pushing over $5M, you have 1246 10th.

This 6br/6ba, 7000 sqft. giant actually has much of the feel of a conventional, large new East Manhattan home, gaining its plus-plus-size square footage from an enormous basement.

If a basketball gym had 9' ceilings, it might feel a bit like this basement. (Although it would be terrible for basketball.)

When we toured, the basement was mostly undifferentiated open space, but the listing now appears to use "virtual staging" to show it filled up in different ways with home gym equipment, home theater, etc. So many ideas!

This one began at $5.495M and has recently cut to $5.295M, jealously guarding the potential to be the first $5M+ sale.

Now, it's late October, so for any of these 3 big listings to claim the 2019 price record, breaking it for a third time this year, they're going to need to make a deal quite soon.

But if any sells near its asking price next year, it will be just another year with just another new high.

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