'Why Not?' Trend Continues on MB Strand

By Dave Fratello | July 16th, 2015

Hard to believe, but we're only a few years removed from a time when Manhattan Beach Strand homes & lots dipped to the $5M-$7M range.

From today's vantage point, that's like trying to remember the days of dial-up Internet. (Your blog author here began oh-so-long ago at 110 baud, but that's another story.)

We're in a giddy market now, though, one that escalated almost overnight as waterfront homes in Manhattan Beach became must-have prizes not just for locals, but for big money from around the globe.

This trend isn't reversing in the near term with sales like 304 The Strand.

Yes, there's something special about the region south of the pier, and that's just been proved again with a very quick deal for this home/lot, listed at $14.000M and now in escrow after 7 days.

There's a clear precedent: 516 The Strand sold in November last year for $13.500M.

So 304 The Strand is even more South End-y, and the market's up since last year, right?

Credit the sellers here for not (apparently) overreaching – even while seeking $14M for a rectangle of sand.

614 The Strand Manhattan Beach CAOverreach could be an issue over at 614 The Strand, a smallish, polished, 1950 original that's been lingering well-nigh forever (26 DOM) at $18.275M.

(OK, that's not really long... yet.)

Everything south of the pier looks "cheap" compared to 1000 The Stand, a larger-than-normal 5000 sqft. lot that's (still) asking $28.9M. There, a one-of-a-kind location and opportunity mean a one-of-a-kind asking price.

The listing is into its 7th week now. If you think no one's giving it the time of day, don't you kid yourself. But $29M? Well, we've wondered about that already. (See "$29M? Can We Talk?")

3808 The Strand Manhattan Beach CANewest to the "Why Not?" Strand sweepstakes is this week's listing at 3808 The Strand.

We're gettin' pretty far north at that point, and the 1930s original, while improved and expanded (there are 2 separate homes), seems like a stretch at $8.695M.

It's also a stretch to read the listing description referring to a "spectacular Ocean front Estate" and to then see the undersized, dated duplex. We'll see how that one gets sorted out.

Also up at the north end of The Strand, though in a more favorable location, you'll find 3120 The Strand, a remodelable 1991 build that's finishing Month 2 of its marketing with a sticker price of $16.0M.

That one made us think about the corner-lot 80s modern at 2920 The Strand that ran through 5 official listings before selling in early 2012 for $9.250M. It's now midway through a complete gut-and-redo process.

Amid these listings and trends, we got to wondering: What about 1140 The Strand, the boxy condo-ish building right at the pier, overlooking the parking lot?

That one listed almost exactly a year ago for $13.999M.

At the time, here on MBC, we noted that the owner had a pretty long recent history of overshooting the market and failing to sell. (See "Another Try at 1140 The Strand.")

So what happened with that $14M asking price?

Same as before. The listing ran 9 months and quietly quit in Spring this year. 

Spring this year!?! They're missing the party!

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