New Construction Cuts

By Dave Fratello | September 13th, 2019

Here's another look at how new builds are faring in Manhattan Beach. (See last week's post for more details; it's got data and pages of listings that are automatically updated.)

This week, a 2-townhome new construction project in the Sand Section made significant cuts.

Stylish modern 441 23rd St. 441 23rd Street Manhattan Beach CA (4br/4ba, 2000 sqft.) cut $299K from its start price, and is now at $3.199M.

It was the first cut made on the flagship front unit of the newly developed complex.

Meantime, the twin back unit at 442 23rd Place (4br/4ba, 2020 sqft.) is no stranger to cuts.

With its 3rd cut in 100+ DOM, the rear unit is now down to $2.799M from a start at $3.298M (-$499K).

1801 6th Street Manhattan Beach CAOver in East Manhattan, a uniquely styled new home at 1801 6th (4br/5ba, 3200 sqft.) emerged 6 months ago at a price more like a full-lot home, though it's situated on a ~5000 sqft. lot.

That was $3.299M to begin.

The home seems constantly to be open to the public, even hosting a Labor Day open house.

You can be open, but it's hard to overcome a pricing issue.

Four cuts later, it's at $2.799M (-$500K), now finally closer to pricing for similarly sized East MB homes.

Note: The style for 1801 6th is labeled in the listing: "transitional modern French farm house," a mouthful.

910 28th Street Manhattan Beach CAA Tree Section corner-lot home at 910 28th (5br/6ba, 5035 sqft.) is now at $4.395M.

It began in April with a different address, 2722 N. Ardmore, at $4.999M.

(No, they didn't move the house. The city approved an address change while the house was on the market.)

The asking is down $604K from start.

Nearly the biggest cut on new construction in Manhattan Beach won't look like it to you now.

409 3rd Street Manhattan Beach CAThat's because 409 3rd St. (5br/6ba, 4175 sqft.) has just re-listed to "refresh" it and wipe out the history.

This new home in the South End began in April at $5.795M.

A series of cuts ensued throughout the Summer, bringing it to $4.595M on Tuesday this week.

On Thursday afternoon, the old listing quit, and a new listing was launched Friday at $4.595M with 0 DOM.

That's down $1.200M from start.

1026 Pacific Avenue Manhattan Beach CAThe only bigger cut from start that we see is at the Hill Section corner-lot listing at 1026 Pacific (6br/8ba, 7160 sqft.), which has just celebrated a year on the public market. 

Its current price of $7.495M is down $1.305M from the MLS start price of $8.800M.

When we first noted it here on the blog in July 2018, it was asking $9.750M in some pre-MLS marketing.

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