Lender’s special

450 North Street

The builder of this spec home up near St.Michael Church ran out of money just as the market ran out of steam and so here it sits, unfinished, while (car) traffic roars by. It’s been listed for the preposterous price of $6.9 million for a long time but today was reduced to $5.7 million.

That might do it, I suppose, but at least in my opinion there are better houses in far better locations asking far less – and they’re finished. I’d be inclined to wait a bit and buy it directly from the bank, cheap.

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2 responses to “Lender’s special

  1. Anonymous

    just behind this sits a recently sold (copper beech) house….that went to contract in the last couple of weeks…..could that have stimulated this seller?

    • Anon, it’s true that both spec houses on Copper Beech have finally sold – the one you mention just went for a bunch, you’re quite right. But the difference between Copper Beech and a location directly on North Street is huge. I have buyers in the $5-$8 million range and they might be interested in a great house on Copper Beech but zero – none, nada, forget it – with a house on North. This builder doesn’t seem to get that.