Price jump: Sale at 1855 Grand Concourse #25

A naïve faith that recent hype about the Bronx will attract people who think $325,000 is cheap for 1,400 square feet. Check out recent price cuts on Grand Concourse below 167th Street.

Seems strange that it was listed in March for $325K, went to contract in May, sold in July for $240K and then was re-listed for sale at 325k in October. Something doesn't add up.

Who lists an apartment and drops the price 25% in 2 months without interim price cuts?

Incorrect data? Personal financial stress, nobody wanted it right away at $325, and seller had to unload it really fast to raise cash? Foreclosure or short sale type situation where the recorded sale price is different for accounting reasons?

It's the Wild, Wild, West. No one knows what coops on Grand Concourse near Fordham Road are worth. It's not a big market. The whole city is changing quickly. Chalk all of it up to speculation. It's a terrific deal for someone priced out of Washington Heights. Or is it? It's not Washington Heights. So guesses are all over the map. At 1020 Grand Concourse an apartment closed at $380,000 this year and was offered for sale at $575,000 only 5 months later. It was such a leap that there was an article ridiculing it on an online blog, so the would-be sellers took a public beating. It's no longer listed. Sometimes people get ahead of themselves. That $380,000 sale was a shocker. It was a quick sale that followed a bidding war, finished only one week after open house. So that means hot market. But how hot?

Correction -- near Tremont Avenue, not near Fordham Road. So sorry for the typo/error. It's close to the CBX and an express stop on the D (3 stops from Columbus Circle).

RealEstateNY: it was listed at $250 last month and many months prior. I have kept my eye on it. The listings earlier prices have been edited somehow???

http://www.zillow.com/homedetails/1855-Grand-Concourse-APT-25-Bronx-NY-10453/2110820674_zpid/

I see it was a sponsor unit previously.. would that be why?