Newly Gone, SouthPosted on Monday, August 31st, 2009 at 7:30pm.
440 6th (6br/6ba, 4200 sq. ft.), a new Cape Cod on a corner lot at Ingleside, has a lot to love. (Listing can still be viewed while in "backup offer" status.)
Just quickly recap what we've got here:
- South End,
What's missing? An ocean view, we suppose, but there's nothing like the family lifestyle of the flat walkstreets on most downhill, ocean-view blocks west of Highland. (Where the last comparable sale was newbie 224 7th at $4.9m in late April – see "Recent Closings.")
The listing for 6th never varied from its start price at $4.495m. We're hearing that the (contingent) offer in hand is less than full price, but not a big discount, either.
Recall that this one was not a spec home per se, but rather a planned custom build that the owners switched gears on midstream and decided to sell. They picked up the lot for $2.050m in Oct. 2007, bidding over the list price of $1.899m. (See "MB Market Update for 9/15/07.")
For would-be buyers of 440 6th – there were plenty kicking the tires – today's news may not be the end. A contingent deal in 2009 is hardly a sure thing. This one depends on the sale of a property outside the area (Northern California).
The buyer interest and apparent deal should be good news, also, for two other yet-to-be-developed newbies down south at 412 8th and 416 8th. These 2 lots were once slated to be built out with a single mega-home (see "2 Are Better Than 1" and "No Mega-Home on Flat Walkstreet").
Now, they'd better get those homes built while $3.95m looks reasonable.
comments powered by Disqus