A recognizable Reynoldstown dwelling marketed as “one of the most iconic modern homes along the Eastside Trail” is trying to again set the bar for residential sales in the historic neighborhood.
The ipe-clad “masterpiece” that is 55 Chester Avenue NE aims to be the first single-family home sold in Reynoldstown for more than $1 million. It listed last week with PalmerHouse Properties for $1,175,000, which would significantly bump up the neighborhood benchmark from where it is currently: $950,000.
The property embodies the rapid intown price escalation for everything from quaint bungalows to tri-level contemporaries that’s been happening for the better part of a decade.
Longtime real estate wonks might recall when this very home raised eyebrows in 2016 by selling for $719,000—a shocking, record sum for Reynoldstown at the time. (As a resale, it last moved three years ago for $845,000.)
Only three Reynoldstown homes and townhomes have traded for north of $900,000 in recent years, records show.
What’s nearly $1.2 million buy in R-town these days?
Pertinent numbers: four bedrooms, three and ½ bathrooms, and 3,230 square feet—a breakdown of $363 per square foot. The “Somewhat Walkable” Walk Score is a bit of a head-scratcher at 67, but the 90 Bike Score qualifies the location as a “Biker’s Paradise.”
One defining aspect is so many floor-to-ceiling windows—described in listings as commercial-grade—that overlook the Eastside Trail, the nearly empty Hulsey Yard railroad property next door, and the city beyond. Skyline views span to Midtown from the roof deck.
Other perks include an owners suite with two custom closets, a den and wet bar in the finished basement, five-inch plank flooring, Lutron blackout shades in some rooms (to fight that fishbowl effect), a whole-house audio system, and a bonus room plumbed for a sauna.
Whether that constitutes a $1.2-million home in Reynoldstown remains to be seen, but in this market few things are shocking anymore.
• 55 Chester Avenue SE (PalmerHouse Properties)
• Recent Reynoldstown news, discussion (Urbanize Atlanta)