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Bank-Owned Gold Coast Mansion Sells For $775K Above '05 Sale Price

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A block off the water, this 7,000-square-foot 1910 Georgian rowhome looks like it's been vacated for some time. And sure enough, it was in the bank's hands when it sold last week for $2.575M. What's most startling is the closing price constitutes an increase of $775K over the '05 sale price, and, the place had been listed at $2.999M for a time. It looks like considerable investment was poured into the home in the intervening years, though the kitchen and baths "need your final touches". Did the owner go bust trying to renovate and sell? It's a distinct possibility. The "meticulously detailed" home sports five bedrooms, six-and-a-half baths, a library, media room, sauna, hot tub, four fireplaces, a patio, and a rooftop with a sunroom extrusion and lavish possibilities. Sadly, unless we've got a flipper on our hands, those possibilities won't be yours.
·Listing: 53 E Division St. [@properties]