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Wainscott's 5 Eel Cove Road Sells For A Staggering $23M

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Just in time for the new year, the Hamptons has crowned its biggest sale for 2011. Originally listed for close to $30M, the Georgica Pond estate (previously belonging Kramer v. Kramer director, Robert Benton) was recently snatched up by Eel Cove Trust for the low, low discount price of $23M. For a while, a manse on Meadow Lane in Southampton looked like it was going to walk away with the crown, but this little Georgica number changed hands just weeks later.

The home itself isn't terribly impressive (especially for the price), but the property...daaaaamn. Located down a hidden driveway and off a tiny country lane, it's part of the super-exclusive Georgica Association which provides beach and tennis court access. The home is set on a 2.5 acre peninsula, offers more than 700 feet of pond frontage and what we can only imagine are absolutely stunning views in three directions.

· Listing: 5 Eel Cove Road [Brown Harris Stevens]