3004 was the first beachfront Strand sale in a while and it was a great deal for the buyer. Listed at $9.5M it sold within a few weeks and just closed escrow at $7,000,000 which is below land value for that location.
The recent sale of the historically relevant beachfront home at 3004 The Strand was definitely an indicator of a very slow Strand market. It was a very unique situation as it was a custom built home that likely wouldn’t work in it’s current form for multi-million dollar luxury home buyers but it was also not being sold for land value. Having said that it sold at $7,000,000 which is a bargain for the buyer. It hadn’t been on the market (especially in relation to most Strand homes) long but sold at a significantly lower price. It was listed at $9,495,000 and closed at $7,000,000.