How big of a price cut?

It's a good looking building

Lots of photos of the old building(?)

First picture is just rendering to get attention.

My favorite photos are the before/after of the garage. I mean, why bother? Must be for that chandelier.

I'll say 50% price cut. (to $3m).

Ha. I had missed the chandelier in the clutter. Basically the listing price is of a full finished grand townhouse price.

The cheesy decor isn't doing any favors either. They'd do better to scrap all that tacky furniture, swag curtains, too-tiny dining-room carpet and other sundry "fauxld" objects that make the place look tired and dated.

Well, I'm not buying the furniture, curtains, and carpet, so it's easy to look past those -- though it's a stumbling block for many people, ergo the rise of shameless levels of photoshopping to make everything look a flat box with luxe finishes. But I digress...

If zoning permits a 4-story building, and we assume a teardown, what's the right price for this, and what's the configuration of units (condo or rentals) that makes economic sense? (probably lose the garage space). On the pro side, it may be an estate sale, so motivated seller(s), it's a double wide lot, in a reasonably popular neighborhood, and not landmarked. On the con side, the estate/heirs may be inflexible/delusional about price, and.... [other cons]?

Aaron, You are right that it is really a development project for a grand single family without expansion (wonder if the second and third floor ceilings can every be grand) or condos by adding a floor. Either way, a price above $4mm doesn't work in my opinion. $3mm may be too low as that price, one may spend $1mm to renovate nicely with everything more or less in the current place and sell for $5mm. A garage may have limited utility if they have a front lot which can be used for parking.

"Garage is currently being emptied, virtual photo displays garage as empty."
Huge if true.