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Downsizing to $6.5M Cottage from $25.5M Mansion Not So Terrible

About a month ago, Carol Ann Morgan (widow to one-time Rotary Treasurer Ron Morgan) bid adieu to her 10,000-square-foot East Hampton estate, which came complete with 2.87 acres of land and a tennis court. Oh, and a $25.5 million price tag. But in a quote given to the East Hampton Star during a charity event, Mrs. Morgan made it known that she had no intentions of leaving East Hampton. In fact, she was moving "just five minutes away." And now we know to where! Turns out Morgan picked to a simpler $6.5 million cottage, also in East Hampton, that originally wanted $6.9 million. So how does downsizing in the Hamptons look? Pretty damn good. The new place is only 3,000-square-feet smaller and in an equally desirable location with a much more manageable plot of land.

You didn't really expect someone to uproot herself from Lily Pond Lane if the alternative didn't have the necessities, right? Other perks include 7.5 bathrooms, three fireplaces, and enough molding to make the place look like it's been there for a century or so. Like we said: downsizing in the Hamptons—not necessarily such a terrible thing.
· Listing: 57 Georgica Road [East Hampton]
· Property Report: 57 Georgica Road [PropertyShark]