flipping over a kitchen?

 

Can we agree that the peak of The Market was 1Q08? (Maybe not for very single property, I know, but let’s speak generally about that.) Then how to explain this Manhattan loft, newly back to market? It sold in that peak quarter around $1mm and is now back on The Market for (wait for it) …. 20% more.

 

I didn’t see it last year and the only pix I can access from last year’s listing don’t show enough of the loft to know whether the kitchen has been improved since then. (New pix show a nice, though not large, kitchen, so maybe.) I am going to have to assume the appliances, counter and cabinets are new (the floor plan is unchanged) because otherwise this does not make sense…. 

 

In fact, if the only thing new in a year is the cosmetics in the kitchen, this still doesn’t make sense. This baby started in Fall 2007 near where it is now offered, but it did not sell until dropping a digit.