Underbid of the Decade? 1945 Franklin (Nicolas Cage Once Lived Here) Lists for $12MM, Sells For $5.4MM
Since we know you’ll ask: Former residence of Nicolas Cage, remodeled to the nines, listed to the twelve (millions), and finally sold for $5,405,000…we’d say this buyer not only got a helluva deal, but one helluva property.
Originally listed in September of 2018 for $12,000,000, which comes out to a (no longer so staggering) $1725 per square foot; price dropped December 2018 to $7,500,000, and recently featured on the infamous list of Underbids, 1945 Franklin finally found a buyer for just $775/ square foot ($5.4MM) and dammit if that isn’t a lesson in looking at properties WAY above your price range, I don’t know what is. As we tell all of our buyers, all the time….track the properties most likely to be in your range, but keep tabs of the ultra dream out of reach over-priced properties too.
Make sure you check out that video. The history and details of this home are astounding.
Congratulations to Joel Goodrich on a great sale and presentation of this property, and hats off to the buyers.
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–Overbids, Underbids, and everything in between [The Goods]