This is one flip that has flopped. The unattached, shingled house at 1549 New York Avenue was purchased for $820,000 in March of 2007 and was promptly put back on the market for $1,300,000 in July. Then it sat, and sat, and sat, until it was lowered earlier this week to $975,000—certainly one of the more dramatic price cuts we’ve seen recently, but clearly a much needed one. The house is quite charming (though we’re not loving the kitchen and bathrooms) and has a two-car garage to boot. Can any readers speak to what this block is like?
1549 New York Avenue [Douglas Elliman] GMAP P*Shark