Purchased for $575,000 ($832 per square foot) in 2006, the buyer of the one-bedroom unit #533 at the Palms (555 4th Street) was in default with over $270,000 in past due payments and fees owed at the end of 2015.
Listed for $785,000 ($1,136 per square foot) in May of last year, a buyer failed to materialize. And in September, 555 4th Street #533 was foreclosed upon with no bidders at $724,466 ($1,048 per square foot) in cash on the courthouse steps.
Listed by the bank’s agents for $730,900 ($1,057 per square foot) at the end of last year, the asking price for #533 was reduced to $697,000 ($1,008 per square foot) in January.
And as of Monday, the list price for 555 4th Street #533 ($664,900) is now back under $1,000 per square foot ($962), with an assigned spot in the building’s garage and a couple of televisions (that weren’t worth moving) thrown in for free.