It's like yesterday... just 2 weeks ago.
The Hill Section lot sale at 512 Pacific came to market determined not to waste one minute. And there was no time wasted.
The starting price for this 11,400 sqft. plot was $4.599M, a "come hither" price if there ever was one. (In our blog post, we called the number "a clarion call that echoed across the Manhattan Beach landscape.")
Multiple offers came immediately, the price shot up, and the sale has now closed. My, that was all quick.
Closed price: $5.500M on Tuesday.
Now, what does that say about the neighbor, 500 Pacific, now in its 5th month on the market, priced 14% higher today at $6.280M?
As we said in that prior post, "the lots are the same. Both 11,400 sqft. Couldn't be more comparable unless they……