These weren’t the biggest sales ever…but they were both listed over $3,000,000! $3,395,000 and $3,999,000 to be exact and the both sold in less then 9 days!  The properties I am referring to are 523 14th St. (Listed by South Bay Brokers: Jack Gillespie & June Emerson) and 401 2nd St. (Listed by South Bay Brokers: Gio Altamura).

Both homes have lots of similarities.  They are both only a few years old, they both sold close to or more than what they bought them for in the past 5 years, and they both sold very quickly for fairly high prices in this market.  To clarify I am not saying these buyers over paid, but what I am saying is there haven’t been a lot of $3 million -$4 million sales in either neighborhood.  More specifically for 2nd St. we have to assume it got close to list price which is basically a $4 million sale of a house with no view.

***This just in!!  14th st. went over the asking price, which means this owner (assuming the sale sticks) will have made money on the sale after buying in 2009.  Probably over 10% appreciation!***

523 14th st. History:
Built in 2009, sold on 9/11/09 for $3,100,000

401 2nd St. history:
Built in 2006, Sold in 2007 $3,930,000

MLS DETAILS FOR BOTH PROPERTIES

Tags: 401 2nd st., 523 14th st., manhattan, Manhattan Beach

This entry was posted on Tuesday, July 26th, 2011 at 11:58 am and is filed under Deal of the Week, Inventory Update, MARKET UPDATE. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.