Warm, Unique and $7M

By Dave Fratello | December 5th, 2013

There are luxury homes in Manhattan Beach, and then there's 106 Terraza Place, a no-lie "gated estate" that's distinctive, warm and enormous (6br/7ba, 7300 sq. ft.). It's up now at $6.995M.

Mediterranean? No. Euro classical? No. Cape Cod or Plantation? No.

We see Craftsman here, and that's what a listing called it in 2012.

The first listing in 2005, when this was new, said the home evokes The Ahwanee Hotel, a 5-star lodge in Yosemite (and national historic landmark).

The new listing calls this unique home "reminiscent of the estates you see around Jackson Hole."

Sure, they're all right.

Simply put, this is one of our favorite homes that we've visited in Manhattan Beach, and so we'll go ahead and wear that on our sleeve. (It was on the Sandpipers tour several years back.)

When you start with a half-acre lot, one that's 2 to 3 times bigger than any comparable lots around MB, the home can really sprawl out. That means a big motor court, huge backyard, guest house and living spaces that aren't limited by the need to stack bedrooms on top – that's how you get a 20 foot ceiling and "[p]erhaps the largest family room in Manhattan Beach."

You can find a lot of great homes in Manhattan Beach. There aren't enough custom, woodsy, luxe lodges like 106 Terraza – there can't be, because we don't have the space for them.

We'll note a couple of other details here.

First, Terraza Place is an off-the-beaten-path cul-de-sac that may be the most private street in MB. It's a nice place to go and not be found, if that's your thing.

Second, let's look at the sale history. The home was, incredibly, a spec project. They tried at $4.500M for a stretch of 2003 before it was ready, and ultimately sold for $3.707M in 2004. The home resold just last June, off-market, for $5.500M. The current listing mentions that the home has been "lovingly updated" over the years. (There's a nice worksite if you're a builder.)

At this time, the list price of $6.995M – a nice 25% bump over acquisition – does not even make 106 Terraza the priciest big home in East MB. That distinction belongs to 1240 5th St. (6br/7ba, 10,000 sq. ft. on a "smaller" 15,000 sq. ft. lot), now up at $6.999M, although languishing at 397 DOM.

The balance of the competition at this price point is, like 1240 5th, more Euro or Mediterranean in style. We're looking at 2 Hill Section properties: 250 S. Dianthus a.k.a. "Summerhill" ($9.900M now, was $7.995M earlier in 2013) and 620 8th a.k.a. "La Belle Vue Estate" ($7.499M).

Alas, there won't be any public open houses. That's not how you sell a $7M house. But maybe we can hold out hope that the next owner will put 106 Terraza on one of the local home tours again some day. Failing that, it's off to Ahwanee, or Jackson Hole, for the next best thing.

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