Purchased for $7,000,000 in 2004, the 4,836 square foot home at 333 Belvedere Avenue across the bridge in Belvedere returned to the market in early 2009 listed for $12,900,000. The property had been been refinanced in 2008 with a first mortgage for $4,650,000 and a second for $2,100,000 to which a third for $1,725,000 was added in July 2009.
Reduced to $9,950,000 in December 2009, to $8,950,000 in 2010, and then withdrawn from the market five months ago last asking $7,500,000, the one-time Blanding Estate Carriage House which was “beautifully transformed into one of Belvedere’s most prominent view-oriented residences” (according to its Sotheby’s listing) sold on the courthouse steps for $4,175,000 last week. But wait, there’s more.
While we can’t currently confirm, and perhaps a bit of bravado is in play, if a plugged-in reader’s source is correct, the multi-million dollar property “was bought by a neighbor with the intent of demolishing it to clear the view.”
The demolition of 333 Belvedere Avenue is underway with the four million dollar view and new yard coming along nicely. Don’t doubt the sources of those who are plugged-in.
∙ From A $7 Million View Home To A $4 Million View? [SocketSite]