For newly built Old Fourth Ward modern, could 10th discount be the charm?

Priced at $1.1M in “red hot” neighborhood 10 months ago, contemporary duplex is significantly cheaper now

By Josh Green@JoshGreen1234 Jul 30, 2019, 4:49pm EDT

A photo of two modern homes with white and gray exteriors, with some wood. — Records indicate 295 Glen Iris Drive NE, Unit A, at right, has undergone 10 price changes since last fall.

When this duo of Old Fourth Ward moderns last blipped the listings radar, they were being marketed as examples of “the ultimate dream home” with echoes of SoHo lofts and Malibu beach houses.

Listing language at the time promised that “DREAMS COME TRUE!”

But after 300 days on market, the dream of fetching north of $1 million here on Glen Iris Drive has not. Asking prices have tumbled nearly $300,000 in what’s described in revised marketing as a “red hot” section of town.

Both homes listed for just shy of $1.1 million in September. They’ve been falling in increments between $10,000 and $75,000 since then, per Zillow data.

Unit A, at right, has been reduced to $815,000, as posted by Simply List earlier this month.

Beyond a towering wall of white brick and ground-level patio, both options have four bedrooms, three and a half bathrooms, and 2,450 square feet. Water-falling marble countertops, wave backsplashes, secluded balconies, what’s described as European light fixtures, and around-the-corner proximity to Historic Fourth Ward Park round out the highlights.

So why’s nobody living this dream?

Unit A’s sibling next door has dropped to $818,000 after nine price adjustments.