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Manhattan Beach estate on half an acre fetches $20 million

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The East Coast-inspired home on half an acre in Manhattan Beach sold for $20 million, the second-largest residential sale historically in the South Bay community.
(Strand Hill Properties / Christie’s International Real Estate)

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.

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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.

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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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