Downtown Beauty Goes

Posted by Dave Fratello on Thursday, October 1st, 2009 at 5:27am.

How about a $5m+ deal in less than 3 months?

That's what they have pulled of at 128 9th (4br/5ba, 4100 sq. ft.), a brand-new modern with, you might say, some Asian influences. (Listing can still be viewed while in "backup offer" status.)

When this one began in July, MBC steered readers over to see it (see "Weekend Opens (7/11-7/12)"), but also expressed some concern that there'd be a negative from the fact that the home's eastern wall abuts a commercial building.

There was some adjustment for that. After a start at $6.499m, 128 9th cut over a million bucks to $5.395m (-$1.104m/-17%) shortly before making this deal.

Still, a final price near that level will be impressive, and it is going to make 2009 competitive with 2008 on one score. Last year, the highest price paid in the Sand Section was $5.6m for 200 19th (5br/4ba, 4200 sq. ft.), a brand new Cape Cod with a superior location. (See "High/Low Prices for 2008.")

This year has seen more Strand sales at higher prices, but 128 9th and one other new home at 224 7th (5br/5ba, 4200 sq. ft.), which sold for $4.9m in May, seem most comparable to last year's high water mark.

We're pretty sure we saw an escrow post on this one before that did not work out, but bigger-dollar deals are happening in town these days with some regularity, and not feeling quite as shaky as earlier in 2009.
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