69 St. James Place, a charming four-story brownstone in Clinton Hill, finally closed yesterday for $1,400,000. Versus the most recent asking price of $1,500,000, this sounds like a pretty standard discount. But the house actually started out on the market in June 2008 with a price tag of $1,995,000, and then suffered death by a thousand price cuts. Unfortunately, it looks like another example of a property (or owner) who was living in the past and couldn’t face reality. If the seller had just come out with an asking price of, say, $1,700,000 at the start of things, chances are the outcome would have been much better.
House of the Day: 69 St. James Place [Brownstoner] GMAP P*Shark