[450 Gin Lane; Photo courtesy Sotheby's]
In what seems to be one of the more bizarre trends to hit the hurting Hamptons real estate market, today The Real Deal points us to another priceupper, this time in Southampton. 450 Gin Lane, a modest 2,750 square foot home with ocean and pond views, was put on the market by Prudential in mid-June for $17 million only to be relisted this Sunday at $19.9 million by Sotheby's. Why the sudden $2.9 million up? New listing agent Harald Grant tells the site 'people are going to put in for what they think it's worth anyway', noting that the 'ambitious' price is for a property with room to build a 12,000 square foot home, in case the current four bedroom spread is too small for your liking.
· Hamptons Home Sees $3M Price Increase [TRD]
· Listing: 450 Gin Lane [Sotheby's]