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The “Chris Brown Effect” and South Bay Real Estate

Super star dance vocalist Chris Brown and world-renown DJ Benny Benassi made quite a splash for our small city of Hermosa Beach this month when they released their new music video appropriately title “Paradise.” For us in the South Bay, we have known for a long time that we live in Paradise every single day.

 

The music video shows Chris Brown and Benny Benassi having a ball, riding bikes on the sun-soaked Hermosa Strand, dancing on the pier, and throwing a roof top party at sunset. And of course, it would not be a dance video without scantily clad women on the beach. There really is nothing special about the video, but it is always a thrill to see The Strand that many of us know and love featured in an international music video. Check it out here and see if you recognize most, if not all of the locations

 

 

With more and more PR shining on the South Bay Beach Cities from the likes of Lakers, Kings, Clippers, celebrities, and pop culture media, we might need to get used to unbelievably high prices on prime real estate. Take The Strand in Hermosa for instance; perhaps there is a “Chris Brown Effect.”

 

Only five days after the Paradise video dropped, a new listing asking, what would be a record price (per the MLS) for the Hermosa Strand, hit for $22,900,000 (3001 The Strand). The next closest sale was a double lot on 1942 The Strand for $15,000,000, and this is now set to be split by a developer to build TWO brand new homes on The Strand.

The last comparable to this property was back in 2013 where a new construction 2666 The Strand sold for $14,800, a record for the MLS at that time.

 

the strand

 

 

3001 The Strand  1942 The Strand 2666 The Strand

 

And finally, the current $22.9 million listing interestingly enough sold for an even $10 million back in 2007. We all know that the South Bay has appreciated significantly over the last four years, but a 129% increase on an existing Strand house is quite a return! But it is not 2007 anymore; today we have Chris Brown dancing on our pier.  

 

It’s Your South Bay. Own It. 

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