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Muscular Greystone on Premier Block Endures Big Price Skid

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Man, has this one been mauled by the market. Built in 1884 by architects Riegert and Knorr in a kind of Queen Anne meets Romanesque Revival, this 5,400-square-foot Greystone has four bedrooms, three-and-a-half baths, high ceilings, limestone & ebony floors, bay windows, and custom moldings. The four floors of living space include a crowning full-floor master suite with direct access to the rooftop terrace. All this said, the totally rebuilt vintage property has failed to woo a buyer over three-and-a-half years worth of stints on the market. The asking price has now been slashed five times since listing for $3.9M in early 2009. The current ask is less than half the initial one— $1.799M. What gives? We're talking about one of the Gold Coast's most coveted blocks, right off the Viagra Triangle for pete's sake! The seller should take a cue from the noticeably smaller 67 E Bellevue which just upped its ask to $1.8M after two years of price chops. What better way to stop the bleeding and grab attention.
·Listing: 47 E Bellevue Place [Premier Relocation]