Timberrrrr! The asking price of the house at 1265 President Street continues to drop precipitously. The
four three-story brick-and-limestone house in Crown Heights started its journey back in May on Craigslist praying for a miracle at $1,450,000. We called it “a bit aggressive” at the time; a commenter more astutely referred to it as “fantasyland.” At some point this summer, Corcoran got the listing and tested the waters at $1,195,000. The result? Still no takers. So this week, in a sign of the times, the price was cut to $995,000. This’ll be very interesting to watch. In this environment, given that the interiors lack the original detail of many of the houses in the area, this is hardly a lay-up even at two-thirds of the original price. Thoughts?
1265 President Street [Corcoran] GMAP P*Shark
House of the Day: 1265 President Street [Brownstoner]