Close the Books on 121 25th

Posted by Dave Fratello on Friday, January 11th, 2013 at 5:56pm.

Three times now in 5 years, 121 25th has traded hands.

The newest sale at $3.300M actually eclipses the price paid in 2007 by $50K. Here are all the most recent sales:
  • June 2003: $1.900M 
  • Apr. 2007: $3.250M
  • Oct. 2008: $3.050M
  • Jan. 2013: $3.300M 
The new sale comes after more than 5 months on market spanning 2 listings last year, and at least one failed deal.

Mitigating what could be some shock over this year's $3.3M price is the fact that the home was notably updated in the intervening years.

In 2007 and 2008, when this property was last marketed, the kitchen and baths were simply goofy. Black, turquoise and rainbow-colored tile counters mixed with saltillo tile floors and roughed-up wood cabinetry, for example.

The current kitchen boasts carrara marble, stainless appliances, etc., and the baths went in more conventional directions as well. The flooring was attractively redone in many rooms.

But in the end, this is still what we called it in April last year: "a smallish, 2-story, largely original 1960s beach cottage with scattered updates."

The home was listed as 4br/4ba, 3000 sq. ft., but to actually get a 4th bedroom, you need to sacrifice the first-floor chill room that opens to the walkstreet patio.

When this one first emerged in Spring 2012, we noted the $3.5M asking price and wondered if it could really be in the same league as the then-recent sale at 221 30th (5br/5ba, 4550 sq. ft.) at $3.350M, a much bigger house with great views that we called "a 'wow' accomplishment of a house." Granted, that was a 200-block house, not a 100-block house.

The market has decided that this 35% smaller house, closer to the water, is worth just $50k less, here in 2013.
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