The weakening market sinks all boats! The actress Mary Stuart Masterson found out the hard way that there’s no such thing as a celebrity premium when the market’s hurting. After coming out of the gates at $1,465,000 in March, the skinny but cute house had its asking price trimmed to $1,395,000 in April before going into contract in August for $1,305,000; the transaction closed on September 26, according to ACRIS. Although she only owned the house for a little over a year, it was probably still a money loser for her after transaction costs: she paid $1,275,000 for the house in June of 2007 and Corcoran doesn’t work for free.
386 State Street [Corcoran] GMAP P*Shark
House of the Day: 386 State Street [Brownstoner]