Time for New Record Prices at 'Manhattan Pointe?'

By Dave Fratello | March 24th, 2022

227 Aviation Pl Manhattan Beach CAA collection of 28 nearly identical townhomes in the "Manhattan Pointe" community is one of our favorite sub-submarkets in Manhattan Beach. 

Sales in the tight-knit community can sometimes be a barometer of sorts, even if you can't compare the complex to beach property.

Two years ago here on the blog, we posted an analysis titled, "Seems 'Manhattan Pointe' Peaked."

Now, two new listings are fixing to carve out a new peak for the complex.

Since everything else is going bonkers, why not Manhattan Pointe?

227 Aviation Pl Manhattan Beach CAFirst up is 227 Aviation Place (3br/3ba, 1646 sqft.), an end unit that is presented stylishly and benefits from a nicely upgraded kitchen.

Some of the owners of these units try to use one end of the kitchen for casual dining space, though it's cramped and the laundry is right there. This kitchen boasts more counter space, newer cabinetry and a newer, bigger refrigerator than is typical in most past sales.

Beyond those features, the home is largely similar to what has been on the market in recent years.

It starts at $1.250M, which would be a record price if they get it.

But one other unit is starting even higher.

203 Aviation Place Manhattan Beach CA203 Aviation Place (3br/3ba, 1747 sqft.) is about 100 sqft. bigger than 227, but otherwise behind on upgrades.

Its kitchen boasts the original cabinetry, less counter space, original black appliances and a small table at one end as a breakfast nook type of space.

Much of the living room is carpeted, compared with 227's all wood flooring.

Like 227, 203 can be called an end unit, also, but in a different sense. Instead of having one open side exterior wall, here the unit abuts an entry/mail pavilion at the front corner of the complex.

This unit started the frenzy in 2018, selling quickly and well over asking at $1.170M. It's currently the co-record-holder for price.

Now they're asking $1.330M.

With both these units starting out above the record price of $1.170M, and the market having inflated 25% since March 2020, you can go ahead and assume we'll see new records here soon.

The full history of sales inside the Manhattan Pointe complex from 2016 to present is captured in the chart below. We've added the two new listings, though they are not sold yet, with marks to indicate that fact.

If your NCAA bracket is long-since busted, and you'd like to wager on where both 203 and 227 Aviation Place end up, we'll see if we can organize a contest. (We're pretty sure this is OK because it would be online gambling. That's legal, right?)

 

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