In baseball news this week, the Dodgers lost pitcher Derek Lowe
as a free agent to the Atlanta Braves.
Rumors of a depressed market for pitchers like Lowe proved untrue. He got a 4-year, $60m deal
Knowing for certain he's out of LA, Lowe responded by dropping the price on his home, 204 19th (click for pics & details via Redfin),
by $500k on Thursday.
Purchased new in Aug. 2006 at $5.0m
, the home (4br/4ba, 4260 sq. ft.) is now listed at $5.2m
, after about 4 months on market.
The property has also enjoyed the distinction (!?!)
of being featured by the Real Estalker
, in this story
. (MBC readers know we don't normally name parties in RE transactions – or anyone, really – unless the names are out there anyway, as in this case.)
So how does $5.2m stack up? Nearby:
- 220 19th (5br/4ba, 4325 sq. ft., 2001 construx.) sold in December for $4.850m.
- 215 19th (pictured) (4br/4ba, 4250 sq. ft., 2002 construx.) was offered for the final 3 months of 2008 at $5.0m, but canceled around year end.
- 228 20th (5br/5ba, 4150 sq. ft., 1999 construx.) is offered currently for $3.899m.
At this moment, the only real, direct competition for Mr. Lowe's walkstreet beauty is a brand-new, much brighter Cape Cod on other side of downtown, at 224 7th
That one's at $5.695m
at the moment, in line with 3 comparable sales at $5.6m last year.
204 19th should always stay a few steps beneath 7th, pricewise (it was 5 bucks higher before this cut), but, for now, there's plenty of room between the two.
The real question, as we anticipate a sale on 19th, is whether this seller feels any urgency to unload the property, or is happy to let the innings roll on and on until he gets his price.