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$6M (Yes, Million) Price Drop For Castleberry Hill Loft

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Castleberry Hill is the neighborhood equivalent of a magician who is either going to pull an adorable rabbit or swarm of angry bees out of his hat. You just never know your luck when you peek behind its unassuming brick facades. There's nothing, for example, about 229 Bradbury St.'s plain brick exterior that would suggest the excesses you'll find inside the 7,703-square-foot, three-bedroom, three-and-a-half-bath loft: a 12-car garage with auto-lifts, heated in-ground pool, gym, wine vault, theater, radiant heat floors throughout, catering kitchen, outdoor fireplace, 18-head steam shower and workshop. Oh, and a breakfast bar. Do you like breakfast bars? Of course you do.

As interesting as the features of the "I could be living in Ansley Park but like to seem gritty and arty" loft are, its pricing history is even more intriguing. Since being listed in May 2010 for $8.9 million, its price has fallen and fallen ... and fallen — to $6 million in October 2010, $3.95 million in March 2013, $3.199 million in October 2013, and to $2.9 million this month. What is this now bank-owned, as-is home really worth? Was the initial $8.9 million ask wildly overpriced, or is $2.9 million a bargain?
229 Bradbury Street SW [Redfin]