Fourth Time's the Charm to Sell This One

In less than 2 years, a midsized fixer in East Manhattan at 1450 3rd (4br/3ba, 2816 sqft.) has racked up 4 listings.

On the 4th, it has finally sold.

The saga began in July 2022, when the property came up at $2.950M.

For a rental-caliber house that needed a lot of upgrades, that seemed rich. The market agreed. The listing quit after 3 months.

It returned in May 2023, lower at $2.890M, only to increase price $100K to $2.990M, quitting a month later. (The listing did make it onto our long list of dated properties in a July 2023 post, "So Many Fixers and Lot Sales.")

The home was back again for 2 months in late 2023, this time at $2.850M, but quit again.

This year, we didn't even put the newest listing (at $2.850M) into our early-March new listings post. We kinda figured: Oh, here they are again, getting ready to not sell.

But they did sell!

The property ultimately closed for $2.725M. The company name of the agent representing the buyer includes the word "Development."

The price would be very high for land alone, as comparable East Manhattan lots peaked at $2.400M and have pulled back from that high point to the lower 2's or below.

Maybe a major remodel is coming?

Maybe someone just had to have that upsloping lot on a prime block near Pennekamp and Costa, price be darned?

Stay tuned, East Manhattan. Something's coming.

Please see our blog disclaimer.

Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.

Based on information from California Regional Multiple Listing Service, Inc. as of June 17th, 2024 at 4:55pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.