The new construction at 5 Dialstone Lane in Riverside was built by someone who, readers may recall, chased me from the premises for predicting that he’d price it at $3.4 million and, because he was stubborn, would ride it all the way down until he sold it for $2.6 sometime next year. The man was furious and with good reason: he had in fact priced his masterpiece at $4 million and doubtless felt a little sensitive on the subject.
Anyway, that was during a period when he’d given a number of brokers an “open” listing: if they found a buyer, they’d receive a commission but the builder was free to sell to anyone he could find on his own, free of obligation. Today he’s given up that approach and given an exclusive listing to my old pals at William Raveis – good choice – and listed it for $3.625 million. I don’t think that will do it, although I hope I’m wrong, but it’s kind of funny that he’s taken a $375,000 price cut even before officially putting it on the market. We’ll put this one on the Blog Watch and report price cuts and eventual disposal.