Three times now this year, East MB has seen new highs marked out – each higher than the last – for new homes on "standard" 7000-ish sqft. lots. (A typical 50 x 150 lot is 7500 sqft., but one of our examples here is 7000 sqft., close enough.)
The current champs, in descending order:
1131 6th (5br/5ba, 5025…
Three times now this year, East MB has seen new highs marked out – each higher than the last – for new homes on "standard" 7000-ish sqft. lots. (A typical 50 x 150 lot is 7500 sqft., but one of our examples here is 7000 sqft., close enough.)
The current champs, in descending order:
1131 6th (5br/5ba, 5025 sq. ft.) at $3.600M (Nov. 2015) (pictured)
1430 18th (6br/7ba, 4600 sqft.) at $3.300M (Oct. 2015)
1632 Voorhees (5br/5ba, 4500 sqft.) at $3.251M (June 2015)
Now, looking at each, it's worth noting that 1131 6th took the biggest haircut, but that may sound a bit unfair at the same time. The original list price was $4.499M in February this year. It sold for 20% less.
And yet, everyone knew that sky-high $4+ asking price was ridiculous, almost like a bluff. The home still made for a new high, despite a location that's, er, not an A. That, plus we found one choice in the home design surprising: They went for super-max square footage at the expense of a large yard. No hindrance.
Meantime 1430 18th (pictured) was built in a comparable "Plantation-like" style (called "Island Contemporary" in the listing). It sold for 5% less than its $3.495M asking price, and held the record for East Manhattan for a solid month.
Over at 1632 Voorhees, the home sold pre-completion and with upgrades beyond what's reflected in the sold price of $3.251M.
Recently, the neighbor across the street from 1430 18th – also new construction, at 1431 18th (5br/6ba, 5275 sqft.) – went into escrow. Like the super-size home on 6th, it overshot the market vastly to begin, with a list price at $3.999M. (Consciously or not?) And like the super-size home on 6th, there's been a 20% chop from asking, with the last list price $3.199M. Yes, it was priced a notch below the neighbor across the street. We'll see how it finishes up.
Meantime, when you look at the 1632 Voorhees sale at $3.251M, you understand why 1524 Mathews (5br/6ba, 4700 sqft.) launched with its new construction price at $3.295M.
But they didn't wait around a long time to argue the case for that price: They chopped to $2.999M (-9%) and roped in a buyer last week. It's in escrow now.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 19th, 2024 at 5:31am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.