Well we knew it was going to happen, though sometime you can just try to ignore reality...though the wonderful Bernoudy/Mutrux- designed Schweiss Home is coming down. See more pictures of the home HERE.
You may ask....how can this happen? It is the reality of finances. The home is only about 1,000 sq ft and the current owners wanted $400,000 for it....and it eventually sold for $375,000. That is $375 a square foot in Ladue which is very high. The home was is poor condition. 4 Daniel Rd. was never really listed in the open market. I had it under contract once, though the Buyer could not get it to appraise for anywhere near the purchase price....even with the lot value. Appraisers and banks can't get around price per sq foot. The other challenge was finding other 1,000 sq ft, 1 bedroom homes in Ladue for comps.
We needed someone to buy it who could pay cash and did not care about making it a financial decision....a charitable, architecture enthusiast! They are out there!
Someone snatched the boy off of the frog. :( See him in one piece HERE