For this ground up speculative single-family residential development, we partnered once again with Gary Lane of Lane Design Build. We acquired a 2,017 square foot 1960 built home on August 15, 2017 for $2,650,000. The lot size of 5,007 square feet allowed us to develop a two-story, over a finished basement, 5,043 square foot luxury single-family residence. The property is located on a highly sought after cul-de-sac in the American Martyrs neighborhood of the Manhattan Beach Tree Section, with direct access to the American Martyrs field. The property is five blocks to the Beach and one block to Downtown Manhattan Beach.
This project was completed in mid-2020 and closed escrow on August 21, 2020 for $6,325,000, which equated to over $1,250 per square foot.
