Now That's a Chop

By Dave Fratello | September 12th, 2014

It was just 2 weeks ago that 512 Highland (3br/3ba, 2135 sq. ft.) debuted on the market.

The $2.789M asking price seemed awfully ambitious given the busy street, vintage (90s build) and overall condition – good, but not perfect or fully modern. (See our review from our Sunday Opens post on 8/31/14.)

Turns out, they've acted quickly to cure the evident overpricing problem.

512 Highland is suddenly down 16% to $2.449M.

The listing now screams that it's priced for "immediate sale."

They also say it's "[p]riced below most recent comp in the area," which would have to be a reference to the heavy, elaborately decorated TH on the busy corner at 98 Manhattan Ave. (3br/3ba, 2100 sq. ft.). That one just closed for $2.583M about 2 weeks ago.

No doubt, some pressure is coming to bear on 512 Highland from a soon-to-emerge, very nearby listing that matches up with 512 in terms of age, size and style, and which is planned to come out at $2.450M.

There's been a pretty tight market for view townhomes this year – even those on Manhattan or Highland – but in this case, competition among similar listings could help the market sort things out. 

We doubt that the upcoming listing can match the (relative) start power of 512 Highland, though.

As we noted in a previous post, there's a fun backstory here: Almost exactly 7 years ago, this townhome was sold by TV's Peter Brady, known in the real world as Christopher Knight. MBC wrote that up way-back-when in this Sept. 2007 post when 512 Highland sold for $1.689M.

Moreover, before Peter sold it, the townhome was featured in the reality show "My Fair Brady," as the listing description now touts as a selling point. (Photo from author's personal collection Wikipedia.)

Yes, you, too could live in a former reality TV set, where the previous owner, 8 years ago, allowed cameras to follow him around in his life.

Errrrr, did you notice, they just chopped 16%?

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