Homes in the $20,000,000+ range don’t come up often. Just recently the home at 417 Paseo De La Playa in the Hollywood Riviera sold at $22,650,000 making it the highest ever residential home sale in the South Bay.
3001 The Strand is a new listing in Hermosa Beach and is trying to do something equally unheard of in the South Bay…..top the $20,000,000 price mark. Listed with Chhabria Real Estate Company the home is priced at $21,000,000. In our opinion we just don’t see how it’s going to sell anywhere near that number but in the highest end of the luxury market it only takes one buyer to really connect with a home.
The home offers 6 bedrooms, 6 baths and almost 6,000 square feet. It also offers 37 feet of beach frontage on an almost 4,000 square foot lot.
This home has quite the history of high listing prices and spending time on the market. In 2012 when it was new construction it spent a year on the market at $10,999,000 but never sold after a year. In 2013 it sold at $10,000,000 in 2013 and then was put back on the market a month later at $13,900,000 and once again didn’t sell. Somehow in 2016 the owners thought that values had jumped to $22,900,000 but once again it sat on the market. 2018 is here and now the home is priced at $21,000,000 and only time will tell if the market has caught up to the price. It seems extremely unlikely but all it takes is one buyer to think it’s worth it.