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New Farrell Spec House Takes Shape, Lowers Its Ask Price

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Farrell Building Co. has begun work on a new 6,300-square-foot house on a cul de sac off of Cobb Road in Water Mill. The spec house is admittedly toned down from some of Farrell's previous work (e.g., there're no bowling alleys to be had), but certain amenities, like dual laundry rooms and a decked-out basement made the cut. Much like the house's more livable size, the price is also deflated a bit. In early June, Farrell mentioned to The Real Deal that the home would be listed for $6.495 million—already discounted from the $8 million it could've fetched in 2007. But seven days ago, the listing popped up with Brown Harris Stevens for only $5.995 million. Of course, if this "great deal" doesn't inspire, you can always take the DIY approach with the $2.750 million parcel next store, which is also listed with Brown Harris Stevens.
· Homes For Sale [Farrell Building Co.]
· Listing: Water Mill South of The Highway Open Views [BHS]
· Listing: Water Mill South — Prestigious Cobb Road Location [BHS]