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Whimsical $5.5M Compound Used To Be A Boardinghouse

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Situated on Studio Lane just north of Hill Street in Southampton is a whimsical five-structure compound known as Stepping Stones. The estate occupies nearly three acres of land, and offers a collective eight bedrooms, four bathrooms, and 6,700 square feet of living space. But these facts don't exactly paint a complete picture—the slew of buildings used to serve as a boardinghouse for the William Merrit Chase’s Shinnecock Hills Summer School of Art. And according to Real LI, that means greats like "Rockwell Kent, Grosvenor Atterbury and Katherine Budd" have all passed through this home.

But before you turn your nose up to the former boardinghouse, realize that this ain't your typical dormitory. The spread comes with spectacular landscaping and even a circa 1920 freestanding ballroom. (Apparently one of the only two existing in Southampton.) And with a price tag of $5.45 million, a couple student loans definitely won't cut it.

· Listing: 8 Studio Lane [Prudential]
· Rich Cribs [Real LI]