Another High-Priced Hill Section Lot Sale

Posted by Mike Michalski on Sunday, July 29th, 2018.

A while back we wrote about some recent high-priced lot sales in the Manhattan Beach Hill Section (see USC B'ball Coach Pays $6.2 Million for Hill Section Dirt).  All of these large ocean-view lot purchases started with a '6' handle, which is an impressive number for dirt value.

Well, add another sale to that group - 630 8th Street, pictured above, which was snapped up off-market by the next door neighbor for a cool $6 million even.  The lot is south-facing and measures 70 x 142 (9,951 sq.ft. or slightly less than a quarter acre).

At first we thought the buyer was the neighbor to the east, an internationally-recognized tennis star and grand slam singles winner who spent three years building her ocean-view Hill section compound, complete with its own private bowling alley, on a same-size lot at 636 8th Street.   A lot which, we might note, sold for a 'mere' $4.1 million back in 2012 (just to give you an idea of how much appreciation we've seen in lot value these past half dozen years).

However, it appears from tax records that the buyer was the other neighbor to the west at 620 8th Street, a private equity firm partner who first rolled into town in 2014 and immediately plunked down $7.9 million for the 6-bedroom, 7261 sq.ft. mansion, pictured below, that had just closed escrow three months previous for $6,950,000..

Side note:  The private equity firm noted above invests in a number of consumer brands including one of our favorite snack foods, HIPPEAS Organic Chickpea Puffs, which is organic, gluten-free, vegan, non-GMO and kosher (we like the vegan white cheddar flavor).

So what's the new owner going to do with the huge new lot adjacent to his magnificent Hill section estate home?  Time will tell but I wouldn't be surprised if he builds his own custom home next to our tennis pro's estate and eventually sells the home pictured here.

This entry was posted under Realty Bites, Manhattan Beach, and Lot Sales.