Not ready for prime time?

Yesterday 252 Milbank Avenue cut its price again, to $4.695 million. There's a history of overestimating the value of this particular property, it seems, because its original developer priced it at $7.750 million before finally selling it to this owner in 2007 for $5 million. She, in turn, put it back up for sale at $6.5 million back in July, 2015, with regrettable results, as yesterday's price cut demonstrates. 

How much is the opportunity to throw a  rooftop white party actually worth?

or, for that matter, a view of town hall, with various commercial buildings in between? *

* Funny story: if you look to the immediate left in this picture, you'll see the former offices of Round Hill Partners and, to its left, a brick building housing a brokerage firm. One fine fall day I was on the balcony at Round Hill and noticed a BMW convertible, top down, parked directly beneath a tree in which a red tailed hawk was perched,  devouring a squirrel. The hawk was a messy eater, and was dropping gobbets of guts and fur onto the BMW's front seat. Ordinarily I'd have wandered over to the business and alerted them that someone should move his car, but I was fresh off a career hunting wicked stock brokers, and still harbored a bit of ill will towards the industry, so I stayed put, enjoying the image of some poor schlep coming out after work, hawk long gone, and wondering, mystified, which of his unhappy customers had dumped chunks of a bloody, dead animal on his upholstery.

Fifteen years on I still chuckle, but then, I'm easily amused.

Of course, Christmastime affords an opportunity for real fun, and that adds value