This is one developer who must be wishing he’d never crossed paths with architect Robert Scarano. After finding buyers for all three units at 364 Myrtle Avenue in early 2007, the developer had to let all of them out of their contracts when Scarano’s high-profile problems with DOB got in the way of a C of O on the property. He then tried to rent the units last fall for very un-Myrtle-like prices before putting them back on the market in January. Then in May, with none of them sold, he actually hiked prices. Now he’s gone and cut prices to slightly below where they were in January. (The three apartments are now asking $885,000, $825,000 and $749,000.) Meanwhile, you gotta assume the two years of carrying costs are starting to hurt.
Kara Kasper’s Listings [Corcoran] GMAP
364 Myrtle Avenue [StreetEasy] P*Shark
Condos of the Day: Whiplash at 364 Myrtle Avenue [Brownstoner]
Rental of the Day: 364 Myrtle Post-Scarano Switcheroo [Brownstoner]
364 Myrtle Avenue: Scarano Strikes Again [Brownstoner]
What’s Up With The New Building on Myrtle? [Brownstoner]