Strand Modern Endangered?

By Dave Fratello | November 15th, 2013

Back in mid-September, we took note when 2316 The Strand posted a deal, with a last list price of $9.700M.

It had launched at $11.0M, run nearly 6 months and just wasn't having people grooving on its ultramodern, 2br vibe. MBC described it as "the definition of a custom, modern home – exactly what someone wanted, but with questionable appeal beyond the party that ordered it built."

But surely, some sports star or celeb could love this beachfront vanity palace.

Alas, it appears no.

The sale price has posted at $8.700M, a discount to the last list of a cool $1.0M.

But do they mean to use the house?

According to rumors and this blog post, no. The buyers are said to plan a complete reboot. Down to the ground with the 2br, 2-story modern. Make way for something bigger and better.

It's a fascinating turn that offers a cautionary example. If you build something way too custom, you may be the only one who will ever love it.

But don't cry too much. The seller grabbed the land 13 years ago for $2.340M. This is well over a $6M spread over the decade-plus. Subtract out the costs of building and holding, and that's still a very nice profit for having grabbed this sliver of MB's Strand back in the day.

The sale marks only the 5th truly on The Strand this year (we call one TH sale 4303 "The Strand" because it's up and off the strip by 20 yards).

Last year, there were 10 sales on The Strand, including SFRs, TH units and lot sales – but no lot sale within $1M of the $8.7M paid here at 2316 now.

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