Strand Update

By Dave Fratello | May 12th, 2010
They've found a buyer for 1200 The Strand (5br/5ba, 4250 sq. ft.), a home we last described as "a Spanish with a few challenges."

Challenges? Location a bit too close to the action at the pier, an awkward layout, a dated remodel (late 80s).

MBC called attention to 1200 in mid-March because the listing had chopped $2.250m at once, bringing the price to $8.450m. It later cut to $7.999m and made a deal last week.

In that post 2 months ago, MBC tentatively suggested that a sale price in the $6m-$7m range might be appropriate. We'll see where they close it.

Looking much further south, 112 The Strand (3br/4ba, 4300 sq. ft.) recently closed for $7.334m.

The home was built the same year that 1200 The Strand was renovated.

Though the size is comparable, a midblock location in the quiet south end is not – there ought to be a major premium for 112.

Just to the north of 112, they're developing what's going to be the South Bay's prestige block of oceanfront property, which only helps 112 over time.

The well-known, oft-discussed triple-lot home at 212 The Strand (see "Big, Beautiful, Too Much?"), is the splashy anchor, but the corner-lot home across 3rd is a beaut, too. A double-lot home will be coming soon at the former 204-208 The Strand. Rounding out the new builds, the corner lot at 2nd/The Strand should be wrapping up soon.

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