By Keith Kyle
Liberty Village is a small area of East Manhattan Beach with primarily smaller, original homes built in the 1940s and 1950s. This had always been the least expensive area or Manhattan and homes were often owned by engineers from nearby TRW (now Northrop Grumman). Well times have changed and with lot values now over $1,000,000 even Liberty Village is a viable option for some big money buyers in Manhattan Beach priced out of the other areas.
Although still made up primarily of original homes, many of which have been extensively remodeled by owners or flippers, the area has seen a definite increase in new construction as builders have seen a much higher likelihood of yielding significant profits. Lately numbers have skyrocketed and we’ve inched closer to the $3.0M mark which would have seemed unthinkable a year ago.
The highest sale was at 1631 19th Street which closed at $2,725,000 in June of 2015.
The listing at 1304 Lynngrove initially took that high water mark and then some. Originally listed in February of 2015 for just under $3.2M the home has had a number of price reductions and is now listed at $2,999,900 which is still a huge number for Liberty Village. It will be interesting to keep an eye on the ultimate sales price of this new construction home on a 5300 foot lot as it will likely set the bar for any and all upcoming new construction homes in the area.
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