MBB THs Dropping

Posted by Dave Fratello on Tuesday, February 24th, 2009 at 4:52am.

We'll say it again, the very idea behind building three pricey new condos right on busy MBB was "surprising," to say the least. (See "A Surprising Development on MBB.")

Those start prices – now eroding.
  • The big one of the group (3br/3ba, 2500 sq. ft.), legally known as 1110 John, is down 15% from start in less than a month since the listing began. That's a drop from $1.793m to $1.525m early this week.
  • The middle-sized TH (2br/2ba, 1800 sq. ft.), 1108 John, started at $1.450m and has taken a big cut of $251k (-17%) to $1.199m.
  • The smallest (2br/2ba, 1550 sq. ft.), 1106 John, is now at $1.149m, down $150k/-11% from start.
Also a note from our first story – we pointed out that HOA dues, according to the listings, ranged from $497-$640. We were hoping someone would clarify whether these figures were very small annual dues or unfathomable monthlies. For now, the HOA figures have simply been dropped from the listings.

MBC mentioned the MBB trio in this weekend's "Sunday Opens" feature. One commenter called the finishes "quite simple" and wondered aloud whether the "European concept" behind the homes – a phrase attributed to the realtor on site – would fly in MB.

It might fly, somewhere in MB. Right there? Well, surprise us.

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UPDATE: After this story was posted, 1108 John took a price cut that made it the biggest cut of the 3 mentioned here. Details in the story are updated.
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