Selling the Tree Section

Posted by Mike Michalski on Sunday, November 10th, 2019.

The Real Estate Edge team of Mike Michalski & Sachi Fujita has been hard at work of late selling two single family homes in the Manhattan Beach Tree section. 

One home - 1812 Elm Avenue, pictured above - actually sold for the full list price of $2,599,000 before it hit the market (the buyer's agent was related to the buyer and waived her commission so the reported sale price reflects the commission reduction).

A few years ago, we had sold this 4-bedroom, 3-bath Louie Tomaro-designed home to our current seller and now resold it again (for a nice markup).

The other sale - 2400 John Street, shown in this blog post's lead photo and below  - was a brand new home designed by Gary Lane and constructed by Thomas Najarian and BJ Construction.

This 5-bedroom, 3529 sqft Coastal Plantation-style home situated on one of the best streets in the Tree section achieved one of the highest sale prices ever in terms of price per square foot (PPSF) at $1,193/sqft for new single family home construction in the Tree section on a standard size lot.

The caveats, of course, would include a couple of new ocean-view homes in the Martyrs area and that rarest of new builds, a single-story 3-bedroom home constructed a few years ago just three doors down at 2412 John. 

In fact, as you look at the new home sales in the Tree section over the past year, the only such sales to exceed 2400 John's PPSF were two Martyrs new construction at 653 13th Street (also developed by Thomas Najarian) and 1215 Fisher Avenue.  Both of these homes have more of a Sand section feel, being situated on smaller lots that are oriented to enjoy sweeping ocean views.

In fact, the average PPSF for new construction in the Tree section over the past year was $1,005/square ft (16 sales).

This entry was posted under Manhattan Beach, and South Bay Real Estate News.