Marketed as a “fantastic opportunity to get in on the new and ultra chic community of The Shipyard,” the two-bedroom, two-bath unit #216 at 451 Donahue Street, which was purchased pre-construction from Lennar for $560,800 in 2014, was flipped for $780,000 in June of 2016, shortly after the unit was completed.
The 912-square-foot unit features a modern open kitchen with wide-plank hardwood floors, an abundance of natural light, a designated parking space in the Merchant Building’s garage and HOA dues of $510 per month.
And having returned to the market priced at $788,000 in February of 2019, re-listed for $695,000 this past August and then reduced to $649,000 in September, the re-sale of 451 Donahue Street #216 has now closed escrow with a contract price of $623,000, down 20.1 percent from the second quarter of 2016 on an apples-to-apples basis.
UPDATE: We’ve added the pre-construction contract price for the unit for additional context and clarification. And to be clear, two-bedroom townhouse units in Lennar’s Shipyard development were priced starting at $658,700 back in 2014.