Only The Strand Has Been Quiet

By Dave Fratello | September 18th, 2013

In what has been a busy year by any measure in Manhattan Beach real estate, it has been surprisingly calm on the waterfront.

In 2012, there were 10 sales on The Strand reported on the MLS, including SFRs, TH units and lot sales.

This year, only 4 to date.

And one of this year's sales is just newly in escrow: 2316 The Strand, last at $9.700M.

Here's hoping you had a chance to drop in on 2316 at some point, though we don't recall seeing any public open houses (or MBC would've sent you!).

It's the definition of a custom, modern home – exactly what someone wanted, but with questionable appeal beyond the party that ordered it built. (Hence the 147 DOM before making a deal.)

It's newer construction (2001), but built up to only 2 stories, not the max 3 stories. It really has 2br, despite the listing teasing 3br, and one of those is really a smallish, dark space hidden away on the 2nd floor beyond a secondary living room.

This house was built for the master, whose suite has floor-to-ceiling windows to get big views, and both a shower and bubbling bathtub that get those views, too, with privacy to boot. The curving, snaking, leather-padded closet was a truly custom touch. Wide-open living spaces downstairs open to the world outside via disappearing doors.

Ultra-cool, hard to price... they began at $11.0M, and dropped to the aforementioned $9.700M. We'll see where it settles out.

Meantime, this year the only other Strand sales were all reported in late January and early February. That's how long the drought has been. Those sales were:

  • 3300 The Strand (5br/5ba, 4750 sq. ft.) (pictured), arranged off-market and reported at $10.995M;
  • 2020 The Strand, half of the double lot with 2016 The Strand that supposedly was never going to be broken up, with the parcels never to be sold separately (until they were), sold at $9.450M; and
  • 4112 and 4114 The Strand (two units of the same building, offered together and sold together but, alas, reported as 2 sales - we count one) at $7.125M total.

(If you're wondering about 2016 The Strand, the other half of that never-to-be-broken double-lot offering, that one sold just before year-end 2012 at $8.4M. Yes, $1M less than its former Siamese twin.)

There are 3 other active listings now.

The cheapest "Strand" listing in years is the new offering at 4303 The Strand, asking $1.525M for a little condo that's apparently got a legal Strand address despite being a unit in a building up away from the actual Strand. (We're tempted to call it 4303 "The Strand," in quotes, in the future.)

Another is 1140 The Strand, pier-adjacent with 5br and 2800 sq. ft., asking $9.995M.

And more typical of Strand opulence is 2216 The Strand (6br/8ba, 5675 sq. ft.), asking $11.500M, now in its fifth month.

We should not count anything as sold till it's really sold, so we're really at 3 for the year now, with perhaps 3 more potential sales by year end.

So 2013 likely will fall short of 2012's total of 10 publicly reported sales, but this year will actually look more "normal." Here are the last several years' Strand sales totals:

  • 2012: 10
  • 2011: 5
  • 2010: 3
  • 2009: 5
  • 2008: zero
  • 2007: 8
  • 2006: 7
  • 2005: 6

Who'd have guessed: The one measure by which 2013 is "normal" is when gauged by sales in the most prestigious, high-priced segment of real estate here in MB.

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