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$22 million – $35 million Dirt!

Posted by John Hathorn on November 30, 2012
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Back in May of this year I wrote about a newly built, Santa Monica, North of Montana, single family home that was to have been sold for $30 million. It has finally been listed for sale for a whopping $35,000,000. Located at 1525 San Vicente, brand new, mega mansion with an indoor basketball court, and 200’ ft. of frontage above the 4th green of Riviera Country Club Golf Course, on a lot that is over 1.3 acres. This is by far the most exciting real estate listing of all time for Santa Monica. There is an interesting history behind this property – call me for details.

When you consider the prices that people have paid in Brentwood, Bel Air, Holmby and Beverly Hills, $35 million does not seem too much for such a significant property. And with the controversial “House of Rock” (2009 La Mesa Drive) property on the market for $22 million, Santa Monica real estate is about to become a much more credible neighborhood for the super rich, realizing that the Santa Monica lifestyle is far superior to any east of the 405 freeway.

Here is your real estate news:

New Listings this week

804 Woodacres Rd. –   5bd + 4.5ba.  $5,595,000.  Relisted and reduced price. Nearly an acre, though not all flat,  of private and serene grounds at the end of a cul-de-sac.  North of San Vicente Blvd.

529 Palisades Ave. –   3bd + 2ba.  $4,495,000.  One of the most desired streets in Santa Monica.  Prime location, west of 7thand north of Montana.  Double lot over 17,000 sq. ft. of lot.  There were five (5) offers submitted for this home as of today, only five days after coming to market!

Please call 310.924.4014 for an appointment to see this home.

700 San Vicente Blvd. –   4bd + 3ba.  $2,300,000.  Heavy fixer upper / tear down. Last sold in 1997 for $550,000.

Sales this week

111 Esparta Way –   4bd + 6ba.  $4,895,000.  Sold in less than one (1) week. Gated home with guest house. Odd floor plan but good location. Sold almost exactly one year ago for $5,060,500. Buyer/builder decided not to build.

714 12th St. –   4bd + 2ba.  $1,995,000.  Rehab or building site with preliminary plans for an East Coast Traditional home available.  Last sold one year ago for $1,595,000 representing a 25% increase in value within 12 months!

256 24th St. –   3bd + 2ba.  $2,950,000.  Looks like the market finally caught up to the asking price for this project. Last sold in August 2009 for $2,150,000.

425 26th St. –   5bd + 5.5ba.  $2,681,841.  Re-List. One of the rare REO listings in the 90402. Big Spanish Contemporary apx. 4,900 sq. ft. on apx. 10,800 sq. ft. lot. This is a Santa Monica address but actually in LA.

470 16th St. –   4bd + 3ba.  $2,595,000.  Great home with lots of light, nice, corner of Marguerita location.
Apx. 2,800+ sq. ft. on an almost 8,000 sq. ft. lot.  Last sold in May 1984.

Closed Deals this week

740 21st Pl. –   4bd + 3.5ba.  Listed for $3,195,000. Sold for $2,900,000 after 61 days. Spanish extensively remodeled in 2011.  Prime Franklin School District.  Apx. 2,900+ sq. ft. on an apx. 8,900+ sq. ft. lot.

311 23rd St. –   4bd + 3ba.  Listed for $2,995,000. Sold for $2,950,000 after 88 days.  Remodeled in 2006, charming and private Country English.  3 family bedrooms upstairs.

Pence Hathorn Silver Active Properties:

13868 W. Sunset Blvd. – 4bd + 3.75ba – $2,895,000

812 Centinela Ave. – 3bd + 1.75ba – $1,495,000

17201 Palisades Circle – 3bd + 3ba – $729,000

10975 Exposition – 3bd + 2ba – $699,000

Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave community on our North of Montana blog.

Add your comments (scroll down to the “Add Your Comment” section) and read other blogs.

And please call me at (310) 458-4024 with any questions.

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