Residential
Los Angeles
Manhattan Beach property breaks city record again with $24.5M trade
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Manhattan Beach home tops LA County’s residential contracts list
South Bay accounts for last week’s two largest deals, report finds
Forget about an off season for the South Bay’s residential market.
The regional market, about 20 miles south of downtown Los Angeles, accounted for last week’s two largest signed contracts, according to Eklund-Gomes’ weekly luxury residential report for L.A. County.
The six-bed, nine-bath home at 934 1st Street in Manhattan Beach’s Hill Section neighborhood topped out the Eklund-Gomes roundup, with a listing price of $16.9 million. Pacifica Properties Group’s Jeremy Shelton has the listing.
The seller is a trust tied to Robert Werle, managing director of financial services firm Coastline Capital Partners, according to property records.
Ocean views, a mural spanning two floors, a floating wood staircase, piano bar, theater, 10-car garage, infinity pool and spa are among the property’s highlights. In all, the home totals 6,874 square feet.
The deal, if closed, would mark another notch for Manhattan Beach’s luxury market after it saw its priciest home sale ever this month with the trade of 1800 The Strand for $24.5 million.
The 5,329-square-foot, beachfront home on The Strand was sold by a Hong Kong-based real estate and finance executive, according to listing agent and Bayside Real Estate Partners co-founder Bryn Stroyke. It was purchased by retired attorney Patrick Rogan, according to Rogan’s agent Ty Bergman of Equity Union Real Estate.
Elsewhere in the South Bay, a five-bed, eight-bath home in Palos Verdes Estates marked last week’s second-largest signed contract.
The home at 968 Paseo La Cresta totals 6,831 square feet and has a listing price just under $12 million. Vista Sotheby’s International Realty’s Chris Adlam has the listing.
Property records show the seller is a family trust tied to the late M.D. Miguelez, who operated his own legal practice in Wilmington.
Key features of the home include mahogany ceilings, a 12-foot-high wine cellar, koi pond and ocean views.
Eklund-Gomes’ weekly luxury report counts signed contracts for properties priced at $4 million or more. Los Angeles County had 19 contracts between July 15 and July 21, which is up from nine recorded the prior week. The contracts reflected total volume of just under $132 million, which is also up from the prior reporting period’s $50.9 million.
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