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172 Beacon Street Penthouse Can't Stop Cutting Its Price

We're mildly embarrassed for this gorgeous spread.

In April 2012, the 4-BR, 2.5-BA, elevator-accessed penthouse at 172 Beacon Street chopped its price by $249,000; a few months later, in September, it lopped a further $150,000 off, bringing the tag down to $3,600,000. Now, with a recent $150,000 sequel, the price is $3,450,000.

Why is this embarrassing, when the new asking puts the penthouse squarely among few dozen most expensive Boston listings right now? Because the spread was originally listed way back in November 2008 for $3,300,000. The listing was then yanked from the market; the seller had a good, long think; switched listing brokerages to the formidable Campion & Company; and then put the penthouse back on the market in March 2012 for $3,999,000, whence the chops began. At this rate, then, it may reach its recessionary asking price before long.
· Listing: 172 Beacon Street, #PH [Zillow]
· 172 Beacon Street Penthouse Now $349K Off [Curbed Boston]
· Our PriceChopper archive [Curbed Boston]