Topping $9M Off the Strand

By Dave Fratello | September 4th, 2014

The buzz has been out there a while, and now it's done, confirmed, sealed up.

120 5th (4br/6ba, 5000 sq. ft.) really did get $9.300M.

It's a single house on a single lot.

Until today, no single-lot MB Sand Section home off The Strand had ever hit $7.0M.

But now, we make the jump over $9.0M.

How? Why?

Part of it is the plus-sized home – the basement gives it about 800 more square feet inside than you'd find in a typical build.

Part is the extensive, complete, recent designer remodel, which looks fantastic. When the same home sold in April 2013 (for a mere $6.600M), it looked nice but had rough edges and was somewhat hard to feel much joy about.

Oh there's location, too. Not only is 5th a nice South End block. Utilities are underground. The north-facing view frames the MB Pier. It's like a huge postcard right outside your window.

And then, there's the big intangible: View protection.

The under-height neighbor immediately to the west is said to have a deed restriction that prevents the property from building up, thereby granting 120 5th a rare benefit: Forever views forever.

We haven't read or analyzed the aforesaid deed restriction, but we believe it's there. The proof is in the purchase price.

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