Record $5.5 million land sale in Manhattan Beach Hill Section
The sale of 512 Pacific Avenue for $5.5 million set a new record. Photo The recent sale of 512 Pacific Avenue in Manhattan Beach for $5.5 million has set a new record for the price of land in the Hill Section, according to the agents who represented both the seller and the buyer. “It’s a very sexy sale,” said Pier to Pier Brokers’ Blake Roberts, who worked with his wife Diana on the deal. Realtor Dave Fratello, who publishes the MB Confidential real estate blog and wasn’t involved with the sale, said that it was a record for at least the past 18 months. According to the Robertses, the former record was the 2014 sale of 828 Highview Avenue for $5.4 million. The 11,000-square-foot lot with ocean views on Pacific Avenue went on the market on Jan. 25 and sold above its asking price in four days, according to the Robertses. The deal was closed on Feb. 9. The seller is the son of the house’s most recent occupants, the last of whom passed away about a year ago. The son grew up in the house, according to the Robertses. The Robertses advertised the land rather than the house, which they said hadn’t been updated since it was built in 1948. The lot, which sits between 5th and 6th streets and…
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