On a lane where Calvin Klein buys $23 million oceanfront mansions just to tear them down, simple if not charming cottages aren't exactly a dime a dozen. So this two bedroom, one bathroom pad, which just hit the market for $5.4 million, is definitely the anomaly. To put things in perspective, the 55,000-square-foot mansion Klein tore down had 9 times more bathrooms; and the cottage's neighbor sold for almost $15 million—back in 2006! In other words, this place has room to grow (if that's what you want). According to property records, the 1.2-acre bayfront property belongs to fashion photographer Arthur Elgort and wife, opera director Grethe Holby. Elgort made a name for himself shooting for mags like Vogue, so there's your six degrees of Condé Nast.
· Listing: 797 Meadow Lane [Corcoran]
· Owner Info: 797 Meadow Lane [BlockShopper]