Undoing a bidding war

(Representative photo, clouds by Sotheby's)

11 Crawford Terrace (NoPo) was listed pretty much as a land sale (1963 teardown on the lot) in 2006 for $599,000. After 372 days on the market a bidding war suddenly broke out and the lucky winner bought it for $710,000 in 2007. The house was scraped off the face of the earth but then the market failed and further activity ceased. In February, 2012 it was put back up for sale at $595,000 and sold today for $567,500.

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2 responses to “Undoing a bidding war

  1. Cos Cobber

    tough street given every house is a contemporary built in ’63.

    • They look godawful, CC but friends of mine lived in one (probably still do – there goes that friendship!) and it was pleasant inside. I don’t know whether it’s still true but years ago the Japanese expatriot community tended to live there – my own children had a number of Japanese friends at Eastern and I spent a lot of time dropping kids off and picking them up on Crawford. I don’t know whether the attraction for Japnese families was that their friends already lived there or if it was the architecture, but houses seemed to sell well. With the cutbacks at many Japanese firms executives were pulled out and I really don’t know the current status of the community.
      All that said, you’re right – a big, new expensive home surrounded by far more modest, dated ones will be a hard sell – maybe the guy who paid $710,000 back in 2007 figured that out and cut his losses.