While we just recently announced the sale of the beachfront home at 425 Paseo De La Playa at $6,900,000, there is a neighboring home that’s stilll for sale and actually has been on the market even longer. 433 Paseo De La Playa is a gated estate type property that is impossible to replicate given the lot size and location. This is a massive 7,792 square foot palacial estate with 7 bedrooms and 7 baths. Some of the highlights include oceanfront pool and spa, sport court, theatre, pool room and 4 car garage. The home has actually been on and off the market dating all the way back to 2014. From what we can tell it’s been pulled off and relisted more than 6 times and the price has gone from $16,000,000 to the current $14,500,000 over that time.
The challenge is that as magnificent as the home is, it’s very ornate and formal which doesn’t fit with the location and therefore would need signficant work and updating for most modern coastal buyers taste. At $14,500, it’s going to continue to be a challenge but the high end beach market has certainly picked up steam as noted by some significant sales on the Manhattan and Hermosa Beach Strand.