It was only this past January when an auction for 104 The Strand resulted in a big number for the plot: $9.500M.
Now, before they get under way with any new construction, the new owners are offering it back.
For $4.400M more: $13.900M.
Now, this little rectangle of dirt was already scarce when offered in…
It was only this past January when an auction for 104 The Strand resulted in a big number for the plot: $9.500M.
Now, before they get under way with any new construction, the new owners are offering it back.
For $4.400M more: $13.900M.
Now, this little rectangle of dirt was already scarce when offered in January for $8.0M. It's really the last lot from the Hermosa border north up till around 4th St. on The Strand that seems ripe for total new construction. (See "Last South End Strand Lot Will Sell," from January 2014.)
And we know that the South End of the Strand has been developing into The prime piece of MB's prime real estate for some time. (See "Knocking Down the South End Strand," from May 2013.)
One way or another, the old structure has a date with a 'dozer. It's just a matter of time, and who's driving.
This new effort to resell does include plans for a "mega multi million dollar contemporary home," per the listing.
Shopping in that stratospheric range?
You've still got a shot at something notably more public as an option: 1140 The Strand, with a triplex on it, right next to the public parking lots and all but on top of the MB pier. They're also asking $13.9M.
That could be a fascinating site for redevelopment, but it's not for someone who'd like to hide.
As we noted in this post one month ago, that property at 1140 has a history of overshooting the market and not selling. But you never know. This could be the year.
Meantime, 1700 The Strand, a corner lot (pictured), sold for $16.000M just 3 weeks ago in mid-July.
The LA County Assessor's site reports the sale price, though the property was not publicly listed recently. (The sale is also referenced in this Bloomberg TV video about MB.)
That big sale – did we say $16M? oh, yes, it checks out – can't be unrelated to the big ambitions behind the (possible) resale at 104 The Strand.
Do you know where you (and just about everyone) missed out big-time?
From Oct. 2009-Dec. 2010, 1700 The Strand was on the MLS. They weren't exactly selling the house, they were looking to raise some money by selling a 50% stake in the property for $4.400M, then, for 8 months, just $3.500M.
Maybe that seemed fanciful at the time, and no one had any cash then, anyway.
Had they just been able to say: "Buy now, and you'll double your money in 4 years," would you have tried to find the $4M?
Meantime, at 104 The Strand, they're looking to bank their $4M in 6 months.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of May 30th, 2023 at 10:16am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
