A Good Weekend for Two

Posted by Dave Fratello on Tuesday, January 22nd, 2013 at 4:54pm.

It was a good long weekend for 2 high-dollar listings in MB, as they made deals and went into "backup offer" status. That means they've both accepted offers, but might want others to take an interest – just in case.

Both listings seemed to debut quite high for what they were, back 3-4 months ago. There are 2 ways to make a sale when you've done that: Wait. And cut. 

If you've been sitting on the sidelines watching 810 1st (5br/5ba, 4850 sq. ft.), you've waited too long.

This big 80s original debuted last August, canceled for the holiday season and just returned to market last week. Boom! They've got their deal.

Welcoming this one back to market only last week, MBC said: 

The issue here is that absolutely everything needs a 21st-century update. That takes vision and will take some cash. At the end, we see potential for a terrific house, but you've got to buy it at the right price.
810 1st began last year at $3.950M and came back last week at $3.577M, or 9% off the start.

1402 Manhattan Ave.
Quite different is 1402 Manhattan Ave. (3br/4ba, 2400 sq. ft.) is a new, modern TH in the thick of downtown.

We've made a couple of references to the home's "Strand-like PPSF," which was $1,125/PSF with the price at $2.699M.

We've called it a "showpiece," "all high-style, spare and modern, with layer upon layer of extra detail added in."

But we also noted that the start price at $2.799M was "ceiling-pushing" for a townhome, and the one cut to $2.699M wasn't much of a chop.

Maybe they were closer to the right number out of the gates that we had fathomed? Time will tell. If this new deal sticks, we'll see where it settles out.
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