They closed on the brownstone on Aug. 20, 2008 for $7.85 million.
It happens that Lehman brothers collapsed less than a month later, causing our housing markets to swoon.
While the markets in Manhattan and Brooklyn in particular have made great progress since then, we still have a way to go before reaching the peaks of days gone by.
Unfortunately, the sellers — I’m sure, a very nice family — have overestimated the demand for properties that can accommodate a big family easily. (more…)