While it failed to sell in 2011, having been “lavishly remodeled” with Venetian plaster, Italian tile, exotic woods and a floor plan “inspired by a Feng Shui Master,” the 1,400-square-foot unit #1 in the former Smitty Knitting Factory building at 75 Lansing Street ended up trading for $1.18 million in late 2014.
This past June, the two-bedroom live/work loft returned to the market priced at $1.295 million, a sale at which would have represented total appreciation of 9.7 percent since the fourth quarter of 2014. And having been reduced to $1.198 million in September, the list price for 75 Lansing Street #1 has just been further reduced to a sub-2014 price of $1.145 million.
In addition, the listing copy has since been updated to note that the seller will now pre-pay one year worth of HOA dues (which currently run $496 per month) along with one year of parking fees (which currently run $300 per month) or grant a comparable credit toward closing costs as well. Let the bargaining begin.