There's still not much new sales activity in the Sand Section, but several escrows have closed recently. Here are a few of note from all different areas:
From the plateau: A new construction sale at 425 26th (5br/5ba, 4200 sq. ft.), a different sort of contemporary with views of treetops, ocean and PV over…
There's still not much new sales activity in the Sand Section, but several escrows have closed recently. Here are a few of note from all different areas:From the plateau:
A new construction sale at 425 26th
(5br/5ba, 4200 sq. ft.), a different sort of contemporary with views of treetops, ocean and PV over Grandview.
Start price pre-completion about 500 days ago: $3.75m
Sold for: $2.3m (-$1.45m/-39% from start).
The lot was acquired for $1.725m, and the difference ($575k) simply cannot cover the costs of construction.From El Norte: 125 El Porto
(3br/4ba, 1950 sq. ft.), held just several months before being offered up for sale again, sold for a loss. In July 2008: $1.395m
. Feb. 2009 start: $1.549m
. Closed price: $1.325m (-$70k/-5% from a year ago).From The Strand: 3216 The Strand
has closed for $4.7m
, same as its last list price. In May, just a few doors away, 3404 The Strand
, with livable buildings needing updates, closed for $5.35m
. Lots are the same size; we'd guess the fates of the current buildings begin to diverge now.From the flat walkstreets:
Two recent closings, one off the MLS.
First, 444 8th
(3br/3ba, 1500 sq. ft.), a smallish cottage with tons of crisp updates and all of the charm you could ask for in a walkstreet home, sold near asking at $1.820m
That's a very impressive $1,223/PSF
, showing what's possible if you nail every detail like this one did.
Second, 424 5th
(4br/3ba, 1925 sq. ft.), also a cute, midblock walkstreet cottage, didn't do quite so well. As had been well documented here at MBC, lots of readers did not like the "flip-flop" layout, with kitchen and living spaces upstairs.
After a hugely over-ambitious start at $2.399m
last September, 424 5th drifted down to $1.799m, then up another $100k. The listing canceled off the MLS recently but tax records show a sale at $1.630m (-$769k/-32% from start)
in early August, equal to $847/PSF
, or 30% less than the PPSF on 8th.
Now, as to the remaining flat walkstreet cottage, 429 7th
, what's it still doing at $2.1m
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.