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Former Doubleday Exec Chops Whopping $10M off Mecox Estate

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In July, former Doubleday Publishing Company CEO John Sargent listed a 2.6-acre swath of land, including tons of frontage on Mecox Bay and a charming colonial home. At first glance, nothing too interesting going on here. But then there's that staggering $40 million price tag he assigned to the place! Well, if you thought $40 million seemed a little excessive, then you'd be right: PropertyShark has kept a close eye on the pad, and noticed that it just shed $10 million off of its most previous ask price of $38 million. That means the home's chopped $12 million in about seven months! Looks like Della Femina's East Hampton spread may really be the $40 million listing, even though it's not actually listed for $40 million anymore either.
· Hamptons house sees $12 million price cut this week [PropertyShark]
· Listing: 186 Crescent Ave [Corcoran]

186 Crescent Avenue, Water Mill, NY