Sale at 57 Montague Street #4A

I have been struggling with pricing on some new BH listings--this one included. This apartment is asking $850K. The same unit went into contract on the 6th floor at market peak (end of 2007) for $805K. I saw it then--it was in need of a renovation, but it did have a slight view of the skyline out of some of the windows. So 4A is two floors lower, does not have as good a view, but is probably in... [more]

I have been struggling with pricing on some new BH listings--this one included. This apartment is asking $850K. The same unit went into contract on the 6th floor at market peak (end of 2007) for $805K. I saw it then--it was in need of a renovation, but it did have a slight view of the skyline out of some of the windows. So 4A is two floors lower, does not have as good a view, but is probably in somewhat better condition based on the pictures (although if the bathrooms and kitchen were above average they would have shown pictures). Let's say at market peak you would have paid $850K (I think this is very generous). How can it be priced at $850K now? I'd say this is worth about $750K-775K now. Note, that would be in keeping with other 2 bedrooms and 2 bathrooms (and note, this unit has an extremely small second bathroom). Any thoughts? [less]