Highest Per-Square-Foot Price on Canals Since the Recession
Pardee Properties has just sold a 1,326-square-foot bungalow located on a prime lot on the Venice Canals. Built in 1910, the home has lots of charming details like wood-paneled ceilings, a Heath-tiled hearth and a refurbished O’Keefe and Merritt stove. One of its most stunning features includes a spacious front deck facing the Canal. What makes the sale especially noteworthy is that the bungalow sold for $2.65 million, making it one of the Canals’ top per-square-footage sales ever at $1,998 per square foot. The sale reflects a larger market trend in Venice real estate, where square-foot prices increased an impressive 30% during 2015. Read more here.