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Curbed PriceChopper: Alphabet City Townhouse Drops $1m

What/Where: Townhouse, 243 East 7th Street (between Aves. C/D)
Sqft: 5,298
Was Asking: $4.995 million
Now Asking: $3.995 million
The Skinny: Following yesterday's Pricehiked Village villa, what we have here is a massive PriceChop in the far East Village. Let's talk location, because that's almost certainly the major factor here; despite broker babble that this is "one of the East Village's best blocks," we're waaay the hell over (though to be fair, closer to C than D). Location aside, this three-story townhouse has a certain rustic charm, and the backyard is relatively copious. (Foliage bonus: "The Firemen's Garden to the north insures an open view, perhaps forever.") Will the million-dollar chop be enough to get someone in the door?
· Listing: 243 East 7th Street [Corcoran via Comitini.com]