Now 3 East-of-Highland THs Sell at $2.8M+

By Dave Fratello | May 31st, 2014

Until last year, there was never such a thing as a $2.8M townhome east of Highland.

Now, it's happened 4 times.

The newest sale is on new construction at 408 32nd (4br/4ba, 2650 sq. ft.) an ultra-modern TH on the back half of the lot, where you might expect a Vista address.

List price: $2.800M. Sale price: $2.810M.

The home is very nicely executed, with a spa-like feel to the baths and a warm sophistication across the board. We thought it helped a lot that a simple, modern home like this was so tastefully decorated for presentation to would-be buyer – it's a very good argument for proper staging.

Views are nice, if not permanent, complemented by the classy old-Manhattan Spanish duplex across the street. (Click thru the listing pics to see the second view photo which captures that even better than this shot with the patio/deck in frame.) For more on the home, see our review from February.

When 408 32nd first listed this year, it was poised to become the third-ever sale of $2.8M or more for a townhome east of Highland.

The first had been 2520 Alma (3br/4ba, 2520 sq. ft.), which sold off-market for $2.799M last year and posted sold on the MLS in May 2013.

Now, remember that address.

Before that sale last year, very few THs east of Highland had ever sold over $2.4M. (See "High Points of 2013: Sand Section, Part II," for more details.)

One notable that's of comparable size to 2520 Alma was 2417 Crest (3br/4ba, 2300 sq. ft.), a remodeled modern with killer views and style, style, style. It sold for $2.575M a year ago, May 2013. (See "Come for the Views, Stay for the Braii.")

Early this year saw another TH in the north end at 2300 Alma (3br/4ba, 2270 sq. ft.) post an off-market sale at $2.800M.

That's a 2002 modern TH with guaranteed ocean views down 23rd. (Called "incredible 180 degree panoramic views" in the sold listing.)

That would complete our set of 3 sales at $2.8M, but...

There's a fourth sale: A recent resale at 2520 Alma.

That one was offered right back to the market fully furnished earlier this year, after the new owners had held it for about 8 months.

The bold asking price: $3.299M.

A bridge too far? The listing canceled after just 11 DOM.

But no. Sometimes the whole package, wrapped up with a bow and ready to go, is exactly what someone wants and needs.

2520 Alma sold off-market after that public listing for $3.139M. The sale occurred in March but just recently showed up on tax records.

So that makes 4 sales of $2.8M or greater – 2 on the same home.

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