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Two Years Later, Sagg Cottage Wants $1M in Appreciation

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[Photo credit: Gotham Photo Company]

A Sagaponack address resonates with pretty much anyone. So it's not too surprising that one property owner would like to score a big appreciation just for babysitting his Sagg cottage for the last two years. According to records, the 4,500-square-foot cottage shown above was picked up in '08 for $5.9 million. However, after enjoying it for two summers, the new owner decided to re-list the property a few days ago for $6.895 million. Not that anything sells for its asking price these days, but still! That's quite an appreciation. Luckily for the current owner, the property was built by Michael Davis and does sit on Parsonage Lane—two major selling points. And it also offers all of the perks of estate living, just on a smaller scale; the house only sits on .53 acres. Hm, maybe it is worth it!
· Listing: 192 Parsonage [Prudential]

192 Parsonage Lane, Sagaponack, NY