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Monday, December 22, 2014

Eastside Property: Garvana flip fails to crack $500,000 barrier

Photo from Redfin

Is anyone willing to pay more than $500,000 to live in Garvanza? Not quite yet but the sellers of  this 102-year-old Craftsman-style home near Highland Park  came very close to breaking the $500,000 barrier.   The sale of the renovated, three-bedroom home on Avenue 63 closed this week at $499,000, according to Redfin.  The home sold for $30,000 less than what the owners were asking when the put the property on the market back in August.  A check on Redfin shows that there have been no $500,000+ home sales  in the flats of Garvanza north of York Boulevard in the past three years.  However, the investors still were able to sell the bungalow for almost twice what they paid for in  February.

 



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