Sometimes, properties sell for very high prices, and it's clear ("clear") why they sold for millions and millions of dollars. Other times, it is not clear at all. Take the case of 24 West 11th Street. When it sold in 2009, it had just undergone an extensive gut renovation that added an elevator, 1,000-bottle wine cellar, and a rear facade of windows. So the $12.2 million sale price made sense. But then it returned to market this June for $20 million, and the new listing touted a gut renovation, but it wasn't re-renovated; it's talking about the 2009 renovation. So why the nearly $8 million price increase? It's entirely unclear, but it doesn't matter either way because some rich person unbothered by this question already scooped it up. The Olshan Report notes that the house entered contract last week.
· Renovated Greenwich Village Townhouse Returns, Wants $20M [Curbed]
· Listing: 24 West 11th Street [Corcoran via StreetEasy]
· On the Market: Village Townhouse Has That Condo Feeling [Curbed]
· All 24 West 11th Street coverage [Curbed]