When the townhouse at 46 Appleton Street in the South End cut its price by $560,000 six months ago, one reader wrote in, "It is possible to price yourself out of a neighborhood with a renovation gone out of control." Indeed, the 5-BR, 3.5-BA represents what the listing calls "a masterful reconstruction." But might it have been too masterful? Would not the subsequently higher price cause prospective buyers to mull Back Bay or Beacon Hill rather than the South End for that kind of cabbage? The latest chop, on Oct. 18, was by $405,000, bringing the asking price for the 3,500-square-foot spread to $3,495,000. For that, one would get the original pumpkin pine plank floors (from 1868!); eight fireplaces (six of them working!); an elevator; and a private roof deck. Will that do to justify even the current price? Stay tuned. (The townhouse last sold in May 2005, pre-renovation, for $1,695,000.)
· Listing: 46 Appleton Street [Zillow]
· $560K Carved Out of 46 Appleton's Pumpkin Pine Planks [Curbed Boston]
· Our PriceChopper archive [Curbed Boston]