A Nantucket-style estate in the Hill Section of Manhattan Beach has sold for $20 million, making it among the priciest residential transactions in the history of the South Bay community.
The sale of the spacious 30-room house is bested only by a multifamily property on the Strand that changed hands in May for $21 million. There have been three sales of $18.4 million or more in Manhattan Beach this year, records show.
Sitting half a mile from the sand, the property features a 7,500-square-foot, five-bedroom main house, a cozy guest cottage, a saline swimming pool and a lawn lined with an array of shrubs and trees on more than half an acre of grounds.
Commanding ocean views are in full display on the property, which includes a basketball court. Other amenities include two rustic wine cellars and a subterranean lounge equipped for drinks and cigars.
Inside, East Coast-inspired architectural details blend with natural elements such as rough-hewn stone and reclaimed woods.
The final sale was $2.5 million down from the original asking price of $22.5 million.
Dave and Jennifer Caskey of Strand Hill Christie’s International Real Estate represented the buyer and the seller, both of whom are local families and longtime Manhattan Beach residents.
The median sale price for single-family homes in the 90266 ZIP Code in June was $2.55 million based on 49 sales, according to CoreLogic. That was an 18.5% increase compared with the same month the previous year.
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