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The Return of the Flip

The Return of the Flip
Taylor Building
In the city, local investors are eager to bag well-anchored neighborhood properties, Essex Realty Group's Jordan Gottlieb tells us. And—maybe more remarkably—flipping is now possible again, under certain circumstances. (You young kids probably don't even remember that word.) Jordan and Jim Darrow repped the seller of the Taylor Building in Little Italy, which received eight written offers after being on the market for three weeks, ultimately selling for $1.4M. "The interest was almost all local because of the size and age of the property, but it was substantial interest," Jordan says. "The owners only owned the property for a few months, as they acquired it from a bank in 2011 and flipped it."
Related Topics: Essex Realty Group, Jim Darrow