Bits from the Front

By Dave Fratello | August 5th, 2009
Some little news in what might otherwise be the doldrums of August:
  • Moving on?: A curious couple of re-lists Tuesday probably should not be interpreted as hiding data about the properties in question. Instead, the shiny new MLS numbers on 228 20th (229 DOM) and 420 36th (103 DOM) appear to owe to a defection by the listing agent to a different brokerage. An interesting move, if true.
  • More issues with Hill Section new construction: 1019 Duncan (4br/4ba, 4800 sq. ft.) has now closed for $2.9m, which is plenty, but that's off $1m from the start in January this year.
It's also near $600/PSF. Hey, that's a Tree Section number!
Six months on market ranks as a quick sale for new stuff in the Hills these days.
This one was also sold short and, according to the listing, "unfinished." Lot acquired in May 2006 for $1.8m. For a bust, at least it never gathered cobwebs.
  • Slipping away again: 132 2nd (4br/5ba, 4300 sq. ft.) has now quit. Anything could happen next (they could switch brokerages!), so we're wary of calling the end of this saga.
But for reminder's stake, 2nd had a deal (off-market) last year for $6.225m (see "Riches Slip Away") that fell apart; it later hit the market at $6.0m and didn't sell. This year it began at $4.5m and dropped to $3.795m, barely, almost desperately, holding above the $3.5m acquisition price from April 2005. They had a deal in late June that flopped.

Maybe it's just not worth more than it was in April 2005.

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