Another $2 Million Cut for That Stinson Beach CompoundFebruary 12, 2016
Listed on the MLS with an undisclosed address and an eye-popping $18 million price tag last May, the asking price for the 5,500-square-foot Stinson Beach home at 266 Seadrift Road was slashed by $6 million in August, which did include the carve-out of two undeveloped lagoon-facing lots across the road which subsequently sold for a combined $2.3 million.
Withdrawn from the MLS last month, 266 Seadrift Road has just been listed anew with an official “1” day on the market and an original list price of $9.95 million according to industry stats and reports.
Comments from Plugged-In Readers
Nine months ago I snarked:
“Shahh right, try half that. No matter how hard you try, it’s not Montauk. The “Lagoon Lot” is maybe a million, and the side where the sand blows into your windows? 5,500 * $1,250psf (generously) = $6.875 Small combo premium so $8-9mm. You’d still be lucky to find a buyer there.
And’ you’re way short global warming, bro.”
In this season of political vacillation, I stand behind this snark.
it’s not Montauk, it’s nicer.
Maybe its not Montauk but you can buy more for $ 10 MIL in east hampton, amagansett, etc, This is a mediocre house, zero lot lines and it in stinson beach. Impossible to imagine the person who would buy this anywhere near 10 MM. or why.
For this price I can get ocean front in Laguna Beach in the private gated community of Lagunita on what is sometimes called Victoria Beach. I happen to know this for a FACT as I used to live there and still follow the sales in that neighborhood.
I understand the attraction to living on the beach, but the lack of elevation where the houses are built terrifies me. I keep thinking tsunami.
If they’d priced it this way from the get-go it would have moved by now but with the churn in markets I think they’re going to be chasing prices downward.
The comments above are absurd. Who cares what you can get in Lagunita? Lagunita isn’t easy driving distance of SF, which populates Seadrift. It also seems obvious that some folks commenting are neither familiar with this area in general and this house in particular.
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