Warm, Unique and Sold

By Dave Fratello | March 4th, 2014

It was 3 months ago that MBC called 106 Terraza Place "one of our favorite homes that we've visited in Manhattan Beach." (See "Warm, Unique and $7M.")

It turns out that someone else felt much the same way. And it's now their new home. Sold price: $6.500M, in sight of the $6.995M start.

It's a nice $1M markup for the sellers, who only picked up the house in June 2012, paying $5.5M at the time. The prior (first) owners had made out well also, paying $3.7M in 2004 and reselling for a tidy $1.8M profit. (Less costs of sale, of course.)

MBC has observed a no-names policy throughout its 7-year history, so we won't say much more than the fact that the seller was one of the local football coaches, and the buyer is not the new coach.

This unique Craftsman-inspired home was called "reminiscent of the estates you see around Jackson Hole" in this year's listing. The first listing in 2005, when the home was new, said it evokes The Ahwanee Hotel, a 5-star lodge in Yosemite (and national historic landmark).

Such mountains. Such grandeur. East of Sepulveda!

The big home (6br/7ba, 7300 sq. ft.) has a half-acre lot – call it 2 to 3 times bigger than any comparable lots you can typically find around MB. That allows for a sprawling home and huge yard.

Locationwise, Terraza Place is, as we said last year, "an off-the-beaten-path cul-de-sac that may be the most private street in MB." We also said, "It's a nice place to go and not be found, if that's your thing."

Interestingly, if you go way back to the start, 106 Terraza was actually a spec project. The 19,000-sq.-ft. lot was purchased for $1.250M in early 2001. 

Now in escrow is a comparably sized, neighboring, 21,000-sq.-ft. lot at 206 Terraza Place, which was asking twice that ($2.500M). These days, there are a lot of custom "owner/user" builds going up, so we wouldn't be surprised if that's the fate of 206, rather than a new speckie.

Buyers looking for the biggest East MB estate are now going to have to investigate the super custom Tuscan at 1501 9th (6br/10ba, 8475 sq. ft., $5.995M).

Looking for the comp for Terraza west of the highway? That's got to be 201 18th (5br/7ba, 7900 sq. ft.), still asking $12.875M. No lap pool there, but we hear the Pacific is awfully nice.

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