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Business in brief, July 31, 2018

July 31, 2018

East-side home sale sets benchmark

A 6,119-square-foot homesite, comprised of three buildings inside a compound off Acequia Madre Street, sold in July for a record amount in Santa Fe, according to the real estate firm that handled the sale.

The property at 463 Calle La Paz sold for $4.85 million — $100,000 less than the listing price, according to Deidre Wollard, a public relations representative for Luxury Portfolio International, a Chicago firm that listed the property. A local affiliate, Santa Fe Properties, handled the transaction. Gavin Sayers was the broker.

“It is a beautiful house, a combination of style, beauty, location, landscaping and condition,” Sayers said.

The price paid was the most for a property in the Downtown and Eastside Historic District in a decade, according to sales recorded on the Multiple Listing Service, he said.

“I doubt there were many private sales of that magnitude,” Sayers said.

The 4,495-square-foot, Territorial-style main residence was built starting in the 1980s by Pat and Michael French, the founders in 1983 of French & French Fine Properties, according to a New Mexican story in March. The Frenches sold the property. A subsequent owner sold it this year.

The oldest structure on the property, now the guesthouse, was built in the 1930s, Sayers said, citing Santa Fe County property records. The property has off-street parking for up to 15 cars, according to the listing.

Sayers declined to identify the buyer, but the Santa Fe County Assessor’s website shows a deed recorded July 6 listing the owner as the John B. Gunn Jr. Trust.

Pump prices still sliding

Summertime is still a fun time for drivers in New Mexico, where the price of gasoline fell another 3 cents, on average, in the past week, according to AAA New Mexico.

A gallon of unleaded in New Mexico cost an average $2.78 on Monday, 56 cents more than a year ago. Monday’s average was 10 cents below the national average.

In Santa Fe, motorists could expect to pay $2.82 per gallon, on average a penny less than the prior week and 9 cents less than a month ago, according to AAA.

Stations in Farmington showed the highest prices Monday, on average, at $2.88 per gallon. The cheapest gas, on average, was in Albuquerque at $2.60.

The U.S. Energy Information Administration, in a July forecast, reported the monthly average price of gasoline peaked in May. The administration forecast prices would decline gradually to $2.83 per gallon in September.

The New Mexican

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