FEATURED SITTER: 522 East 87th

Delightfully named Corcoran broker, Ann Snee, just cannot get anything going at 522 East 87th. We first met her on the way to Carl Schurz Park this spring. She caught us peering through the open door of her listing and graciously invited us to have a look around. 

The four story brownstone was beyond vacant, a state that brought attention to minor cosmetic and decorative shortcomings. We loved the parlor floor which, if opened up, would take full advantage of its 12 foot ceilings. The upper floors were a little cramped. In fact, two front facing bedrooms on the fourth floor were basically holding pens. But overall, the prospects seemed good: a $4,250,000 single family, in need of minor upgrades, on an attractive tree-lined street adjacent to a park and near private schools. 

In the summer we saw her again. The asking price had dropped to $3,995,000. When we inquired how things were going she described being bogged down by offers. We expected as much and mentioned how we had always liked the property. “Why don’t you cut a check then?” she joked. A good laugh followed. 

It was more a homecoming than open house when we found our dear Snee outside the property one rainy Sunday this fall. Her orange curls were somewhat deflated and the asking price had fallen to $3,700,000. We wanted to offer some encouragement but, thinking better, crossed the street and anticipated a future opportunity.  

Will the latest price drop do the trick? The cunning Snee has since cut the asking price to $3,495,000. Is the seasoned broker loosing her touch or is the market really this bad?

~ by madhattan on November 9, 2008.