House of the Day: 329 President Street

Call it death by a thousand cuts. Even when 329 President Street was listed in the comparatively strong market of early 2008 it was obvious that it was embarrassingly overpriced. $3,600,000 for a three-story house in Carroll Gardens, we asked incredulously. ‘Twas not to be. It didn’t take long for the seller to start scaling back expectations but, given the starting point, the initial reduction of $605,000 didn’t have any impact. In 2009, the property has had four more price cuts, the most recent of which was at the end of July and brought the asking price to $1,975,000, almost half of where it started over a year and a half ago. Now that we can see photos of the character-less renovation, we’d say this still has quite a way to go.
329 President Street [Vita/Streeteasy] GMAP P*Shark
Overpricing Not Working in Carroll Gardens [Brownstoner]
What the Heck Is Going On in Carroll Gardens? [Brownstoner]