This year is full of stories of short-term holds resold for a profit. It's a classic rising-market (bubble?) phenomenon.
One of the boldest is the newest listing to hit the market, 88 Manhattan Ave.
This is a 3br/4ba, 2150 sq. ft. detached TH with a mid-90s build date and much more recent updates that gave it a modern feel.
This one traded back in May 2012 for $1.925M, and is back now offered to the public at $2.650M. That's a markup of $725K and 38% over the acquisition price about 18 months ago.
Interestingly, the same property was offered three times during the slow years of 2009-2011 at prices ranging from $1.899M down to $1.799M. It never could sell. The 2012 sale was arranged off-market.
What matters, of course, is not the history, but the current…