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$10.1M Waterfront Hunts Point Estate Drops $700K On Re-List

What's the deal with the price on this place? Did their agent argue for listing it at about 2% less, just to get it under eight digits? Rather than $100,000 over a million, why not $100,000 under? It would show up better in the listings, and that would make a difference, right? At $10,100,000, down from $10.8M, maybe buyers want to say they spent eight digits on a house. It's in the right neighborhood, Hunts Point; and is big enough, 6,869 square feet on about an acre of Lake Washington waterfront. Somewhere in there are 4 bedrooms and 3.25 baths, and some very big rooms very nicely made. What's an extra hundred thousand or so when looking at such a unique property? The listing claims three garages but the photos make it look like a three-car garage. Of course, there's also parking out back, on the water, because there's moorage for a yacht and its attendant fleet of pleasure craft. Being on a cove in Lake Washington also means access without being in the main swirl that can be boating on the lake in good weather. Having your own moorage also means getting to UW or Lake Union without worrying about bridges or crowds. Even if you don't have a boat, sitting by the water is a fine luxury and worth quite a bit.

· 3268 Hunts Point Rd [Estately]
· Philanthropist Arlene Wright to list Hunts Point estate for $10.8M [PSBJ]
Written by Tom Trimbath