There have been a couple of fixers in LJ in the last couple of years that seemed priced below market and thus created a lot of interest. In the end, even though they had a dozen offers, the property went for less than the asking. Not sure how this happens, I just know it has.
We will see what happens to the Chelsea house soon enough.
Amazing how many LJ homes are on the market in the 1M to 1.5 range. A couple of years ago, I would have pulled the trigger by now. But the economy has cut my income in half and I am going to play this market out… 2010+
