It took a long time for any East Manhattan Beach homes on typically sized lots to sell over $4M.
The first time it happened was in 2019.
Then, it happened 6 more times before year-end 2020.
All of those homes were new construction.
Six more times from 2021 through early 2022, new, or at least "newer," homes sold over $4M. (Two were 2019 builds, neither of which had originally sold over $4M, but did upon resale.)
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Please Note: The properties below were or are listed and brokered by a variety of agents and firms, not Dave Fratello or Edge, unless noted. Click on any image or linked address for full details. The name of the listing broker and agent for each linked property is displayed with each listing.
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Now, here's what's new: The last 3 East MB homes to sell over $4M this year were a minimum of 10 years old.
And today there's one more, newly in escrow, looking to repeat the feat.
It's 1305 18th (5br/4ba, 3948 sqft.), a 2005 build with updates.
They listed late last week at $4.150M and made a quick deal. We'll just go out on a limb and say they got at least asking price. (1305 18th Street is Listed by Jennifer Caskey, Compass.)
This $4M+ trend really began in Summer 2019, with three quick sales of new homes over $4M, as we discussed in "How Many East MB Broken Records?"
First was 1320 9th (6br/7ba, 4900 sqft.) (pictured) at $4.250M in June 2019, then
1643 8th (5br/6ba, 4835 sqft.) at $4.150M in July, and
1755 8th (5br/8ba, 4835 sqft.) at $4.465M one week later in July.
The next four all sold in 2020, perhaps highlighted by the next-door neighbor of the high sale there, 1751 8th (6br/6ba, 5826 sqft.), which went even higher at $4.825M.
Fast forward to this year, and the first-ever non-new or not-very-new East MB home to sell over $4M was 1247 6th (4br/5ba, 4369 sqft.), a 2007 Spanish that closed for $4.250M this past February. (It was an off-market sale, Listed by Colin Aita of Strand Hill Christies International Real Estate.)
Next was 1219 17th (5br/4ba, 3515 sqft.), a 2012 build that's also substantially the smallest of the homes on this (short) list. It closed for $4.250M in June, more than $1,200/PSF. (Listed by Rocco Tucker of Silver King Brokers.)
The latest was 207 S. Redondo (5br/6ba, 4429 sqft.), a 2005 build with a nice yard that was bid up more than $350K to $4.266M. (Listed by Jennifer Caskey, Compass.)
Now we'll just see where 1305 18th winds up.
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Nerdy note: 15 of the 16 properties referenced above that sold over $4M since 2019 were on 7500 sqft. lots. One was a smaller lot (1219 17th). These are the only ones accounted for in the post.
An additional 6 properties sold since 2019 in East Manhattan over $4M, but with larger lots, ranging from about 8,600 sqft. to nearly 21,000 sqft.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
