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A Few Pricechops Later, A $20M Teardown In Water Mill

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After hitting the market in 2010 with an unrealistic ask of $40M, this Water Mill home recently found a buyer?all it took was a pricechop or four. The last listed price was about $20M less than the original ask. And what does the new owner plan on doing with the home that sits on "2.2 acres of eye-catching Mecox bay frontage and [possesses] loads of antique charm"? Tear it down, of course!

According to Sally Spanburgh over at Southampton Village Review, the five-bedroom "will be torn down before year's end," making way for something that we can only assume is a little less 1800s farmhouse and a little more JLO. Who knows? Maybe this is the future site of Robin Kassner's supposed "Hello Kitty" house. We have a feeling there will be another "Hamptons traditional" erected here in short order, though. Regardless, the new place will have some pretty spectacular views.

· Say Goodbye to 186 Crescent Ave, Water Mill [SVR]
· Listing: 186 Crescent Ave [Corcoran]