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More Than 4 Years Later, This Springs Property Remains Unsold

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This particular listing seems rather appropriate considering yesterday's open thread question. It's been on the market since April of 2008 and has seen $800K worth of chops since then. It's finally starting to look like the owner is getting serious about selling, though. They lowered the price by $450K yesterday. The ask is now $1.85M.

And what does $1.85M get you in Springs these days? 1.12 acres of property right next to Maidstone Park, with frontage on Gardiners Bay. Sure, there's a a two-bedroom cottage there, but that thing's a goner if/when this place eventually sells. The brokerbabble notes that there's already approval in place for new construction and the parcel's "acreage accommodates substantial house and pool."

Think the new price will be enough to get the job done or is this place going to continue to languish?

· Listing: Waterfront Like No Other [Devlin McNiff Halstead Property]