This Water Mill mini-villa took a massive 28% chop today, falling from an initial asking price of $6.9 million to $4.998 million. On the market for just under a year, the Brown Harris Stevens listing is bigger than it looks, coming in at 8,000 square feet with 7 bedrooms and 8.5 baths. A 2,000 square foot guest house, pool and tennis court add to the coumpound-esque vibe, though the style of architecture may drive away more buyers than bring them in. Suburban villa chic can be a tough sell. Set on five acres, the property is pretty expansive for the new price, perhaps signaling a tired seller. Villas, like all homes, get old too.
· Listing: Five Acres in Water Mill [BHS]
· Water Mill [StreetEasy Hamptons]