Walkstreet Lot-Plus Closes

By Dave Fratello | April 27th, 2011
In "Flat But Up" in early March, we were skeptical of the demand for $2.6m for 324 8th, a 1-1/2-size lot (4050 sq. ft.) on a flat walkstreet near downtown.

Neighboring 316 8th – a corner lot of the same unusually large size – had sold for $2.150m in Sept. 2009.

324 8th did make a quick deal, but for much less than asking, and about 5% more than the neighbor had sold for during a trough for the local market.

324 8th's sale price: $2.255m (-$345k/-13% off start). That's equivalent to exactly $1.5m for a standard-size lot.

And here come the 'dozers.

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