LA Signed Contracts Pull in $77M in Volume

A newly built home in Manhattan Beach’s Hill Section neighborhood found a buyer last week to make for Los Angeles County’s top residential property to go into contract.

Built in the trendy modern farmhouse style, the six-bed, eight-bath home of more than 6,000 square feet was asking $8.8 million, or $1,424 per square foot.

The property appeared in the Eklund Weekly Luxury Report Los Angeles, which ranks signed contracts based on asking price. Marcy Roth of Douglas Elliman’s Eklund Gomes team compiles the weekly report, which uses Multiple Listing Service data and an asking price floor of $4 million.

If the deal on 711 North Dianthus Street closes, the buyer will walk away with a discount from the original ask of $9.3 million, when the home first hit the market in March.

Property records show an entity called BM Investments scooped up the home in 2022 for $2.6 million, with state filings tying the limited liability company to real estate investor Bedros Najarian and the Hawthorne address of a company called Doon Builders.

The listing is held by Thompson Team Real Estate’s Joseph Nuzzolo.

The property’s location in the Hill Section places it in the same neighborhood as Los Angeles Lakers point guard Luka Dončić.

Although, the home Dončić paid for last August amounted to $25 million for what was previously tennis star Maria Sharapova’s former pad. That off-market closing edged past the $24.5 million sale of 1800 The Strand as Manhattan Beach’s priciest residential sale on record.

Last week’s next priciest listing to fall into contract, according to the Eklund Gomes report, was 2311 Worthing Lane, located in the Bel Air Crest community.

Designed as an East Coast traditional-style home, the property is listed for just under $8 million, or $864 per square foot.

It counts five beds and 7 baths across 9,200 square feet, with the listing held by the Beverly Hills Estates’ Lea Porter.

The home first hit the market in September asking nearly $9 million before seeing a price reduction the following month.

Property records and listing sites show the home last sold in 2011 for $3.2 million and is currently owned by a trust tied to Brian and Mira Lee. Brian is a serial entrepreneur, who co-founded LegalZoom, ShoeDazzle and Honest Co.

Across Los Angeles County, signed contract activity last week shook out to be about on par with the year-ago period. A total of 13 homes went into contract, equating to about $77 million in asking volume, according to the Eklund Gomes report.