Farewell to the Dianthus Twins

Posted by Dave Fratello on Thursday, December 2nd, 2010 at 5:29am.

For several months, 2 neighbors in a prime Hill Section view area duked it out seeking buyers' attentions.

Last week, one found a buyer, and the other quit the market.

It was 217 N. Dianthus (4br/3ba, 2950 sq. ft.), the later entry of the 2, that made a deal in late November, after a cut to $1.599m from a start at $1.739m.

217 had launched in late June, a month after next-door neighbor 219 N. Dianthus (4br/4ba, 3300 sq. ft.) had kicked up at $2.089m. Yes, that was a whopping $250k difference in 2 neighboring, comparably sized homes.

217 dragged down the price at 219 for a while, forcing a $100k cut shortly after 217 debuted, and another $40k later.

219 N. Dianthus was at $1.949m when it dropped out last week, still far above the neighbor that made a deal. The initial $250k gap had actually grown to $350k by the time they both left the active listings – on different terms.

Neither home was perfect, which helps to explain the 5- and 6-month listings. (See our review of 219 N. Dianthus in this "Weekend Opens" post from May – where we called the layout "zig-zag[gy]" – and our opinions on 217 N. Dianthus in this "Weekend Opens" post from June.)

But each has those top-of-the-hill, unbelievable, unmatchable blue panoramas – the treasure of a Hill Section address. Of the neighbors, 219 had the upper hand – a few, critical feet higher up the hill, and perchance less likely to face impediments from possible additions to homes just downhill. But it also had the higher price, and that seems not to have worked out so well.


MBC culpa: Maybe we were too enthusiastic back in June when we said that 217 was "priced to draw immediate action," given that said "action" took 5 months and an 8% cut in the public offering price. In our defense, these skinny-lot, ultra-view homes don't trade often, and it appears that everyone has had trouble figuring out their market value.
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