Situated in East Hampton South is this unique shingle-style cottage, complete with a 45-foot tall tower. But not for long! The home sits on a 2.3-acre plot of land that was first parceled off from two other chunks of land, one of which just sold for $5.5 million. Thereafter, it was marketed by itself for $5.950 million until it entered into contract. And now it seems that prominent East End builder Joe Farrell is overseeing the property's fate. Other than its new price tag of $13.95 million, the listing now boasts a to-be built 8,000-square-foot Gambrel-style home, complete with five fireplaces and a three-car garage. But would you expect anything less from a builder whose homes catapult their owners to fame? Nope!
· Listing: Farrell Building Co on Cross Hwy [Corcoran]