Another week, another big-dollar lot sale in MB's Hill Section.
It seems like that's mostly what people are buying in the Hills, though that's not quite the case.
This week's land grab is at 600 John
, a corner lot on the higher, eastern side of the street. Did we mention that it's nearly 10,000 square feet? There, we did.
Someone's looking to start their dream home with a dirt cost of $4.4m
, or thereabouts. (That was the start price, anyway.)
When John posted a deal Monday, just 18 days into the listing, surely there were still plenty of folks asking, "What took so long?"
We've been hearing for months about a queue of buyers frustrated with the lack of completed, high-end view homes in the Hills on public offer. So, you don't like what's up?
Build your own.
Just last week, we noted a quick deal at 636 9th
, a 9425 sq. ft. lot lower down but with "ocean view potential" that sold within a week at $3.0m
. (See "14 by 11/11
Higher up, a bigger lot at 809 Highview
(14,140 sq. ft.) sold for $4.3m
in August. That one makes for an interesting comparison with 600 John. It lasted 12 days on the market.
Meantime, the completed, opulent estates that have found buyers recently include 801 Highview
(6br/7ba, 6425 sq. ft.), built in the late 90s with updates, offering big views from an 8600 sq. ft. lot, which closed for $5.625m
2 weeks ago.
And we're still waiting for a deal to close at 100 S. Dianthus
(7br/7ba, 6200 sq. ft. on a 9400 sq. ft. lot with extra city land bringing it over 13,000 sq. ft.), also a late-90s view home on a corner offered for as much as $6.3m last year, up this year at $4.995m.
In context, Dianthus looks like the relative bargain of the second half of the year, just a drop over what someone's paying for a patch of dirt over on John, with a plan to push that address up into the stratosphere some day.