A tale of two marketing plans

$4m is a magic number for townhouses. Below that price is selling, and above it (in the 4 to 6 range) simply isn't. 24 Commerce St was the worst house on a fantastic block. The sellers were realistic and got a great result in a crazy bidding war, but it helped that the market price was at or below 4m.

We just assisted with a $5M sale of a townhouse. There were multiple bids.

Keith Burkhardt
TBG

Really George?
https://streeteasy.com/houses/downtown/status:sold%7Cprice:4500000-

This has been my experience with houses and miltifamilies. Take it for what it's worth. I e seen a few properties in the $5m range that have sold but they have typically been in quite good condition. Example: 41 Barrow is a gorgeous property. IMHO, the price differential vs Commerce St should be more than it will ultimately end up being in light of construction costs, time, and carrying risk. I'm not so sure that the differential is down to the marketing plan but rather the fact that sub-4m townhouses are still quite rare.