Sometimes spectacular homes don’t sell. That’s usually due to them being
overpriced, but that still doesn’t make the homes any less cool. This weeks spotlight home is located oceanfront in Redondo Beach on at 717 Esplanade. The home is magnificent in just about every way with a higher elevation than anything comparable on the Strand in Manhattan Beach and Hermosa Beach and an oversized lot of over 11,000 feet allowing the home to be very large at over 7000 feet while still having incredible outdoor areas with a patio and a pool (not to mention the beach and ocean are only 40 feet away?) With 4 bedrooms and 6 1/2 baths the spaces are large with tremendous views of course.
Having said all of that the home was originally listed at $14,250,000 in May of 2013! That’s a long time on the market in any circumstances but given that the past two years have possibly been the hottest since 2006 with prices skyrocketing and demand at an all time high, it’s pretty clear that even at the current price of $12,999,999 it’s still sitting. If this home were in Manhattan or Hermosa it likely would have sold prior to it being listed, but the reality is that it’s not in Manhattan or Hermosa. It’s a spectacular house in and even more spectacular location but given the highest previous number was $8.1M and that was for a 21,000 foot lot it’s still a reach, but who knows….with the asking price for the oceanfront condos at 1500 Esplanade being $4,000,000 and up, values are getting more in line with 717 Esplanade all of the time.