A 1930s Arts and Crafts style house on the bustling Pantigo Road in East Hampton has sold and closed for $1.275 million. In a vacuum, that purchase price is pretty harmless. But once you realize that the house was originally listed for nearly $1 million more, this deal takes on a whole new mystique! According to Real LI, turns out the property, which once belonged to the mayor of East Hampton, was listed as a short sale for the past six months. Things are starting to make sense again. [Real LI]
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