While Fishtown real estate is currently in high demand, this property just hacked $489,700 off of the asking price. Apparently giant garages in Fishtown can't sell for more than a million. Broker babble hawks this property as providing "Incredible diversified use/development opportunities", but it appears that no one has seized the aforementioned opportunities yet.
Though this property had been on the market for almost three months without being sold, losing a whole digit from the asking price does seem a little drastic. Then again, the warehouse portion of this offering is little more than a glorified garage with a corrugated roof.
The answer isn't even in the crime statistics nearby: it looks like the area hasn't experienced any recent upticks in crime. Maybe it's just hard to price "development opportunities" correctly, because they're worth more to some than others. Regardless, if you're looking for a very large garage that'll set you back slightly less than a million dollars, you've found your property.
· 1223 E. Berks Street [Trulia]