This cozy little beauty, 12,000 square feet and lots of amenities, was originally listed at $11.9 million in February 2005. It took a year and several price drops but it finally sold for $8 million in January ’06. Today it’s back up for sale, asking $6.995. That must be painful for its owner, especially since there is no guarantee that he’ll get even that price, but think how much more he would hurt if he’d paid that $12 million? Ow.
UPDATE: There are five houses for sale on tiny Richmond Hill Road, ranging in price from $3.495, $5.995, $6.500, $6.995 and $9.950 (this last remains just a gleam in the eye of its builder, I believe). Plus two land parcels of 4 and 5 acres each, in case you want to build your own, and an expired listing for a new house built right next door to 99 (85 Richmond Hill) that was priced somewhere in the $7s or 8s, if memory serves. That will probably come back on, although its absent owner may experience a Rip Van Winkle moment when he discovers what’s happened to prices here. I don’t remember a house on Richmond selling in the past year or so, so the market for this location have always been a bit thin. With this much choice, I would think that some serious negotiation might be profitable – for a buyer.